IPO Approval for JD Capital-invested FlagChem
The China Securities Regulatory Commission (CSRC) has recently announced IPO approved for Jiangsu Flag Chemical Industry Co., Ltd. (FlagChem), which was invested by JD Capital and will soon go public on the A-share market.
FlagCchem, as designated by National Development and Reform Commission (NDRC), is a modern high-tech enterprise engaged in the R&D, production, and sales of agrochemicals and fine chemicals. It is located in the Nanjing Chemical Industrial Park of the national petrochemical base, covering an area of 100,000 square meters. With rich experience in agrochemical export for 15 years, it sells products to more than 40 countries and regions via self-export and indirect export, and enjoys long-term cooperative relationships with many transnational corporations, customers mainly including such international giants as Dow AgroSciences, Bayer CropScience, and Syngenta.
FlagChem has established a sound QEHS (quality, environment, health, and safety) management system, and has been certified by Det Norske Veritas (DNV) for qualifying ISO9001 (quality), ISO14001 (environmental protection) and OHSAS18001 (employee work safety) standards.
According to statistics by China Crop Protection Industry Association (CCPIA), as early as in 2006, China’s pesticide production had reached 1.296 million tons, ranking the world’s first since then. By 2014, pesticide production in China reached 3.744 million tons, generating an industry-wide sales revenue of 300.841 billion yuan. To tackle with less global arable lands and a greater demand for food, improving the grain yield of per unit area becomes the only choice, while pesticides as an important means of agricultural production, play a prominent role in ensuring and increasing grain yield.
JD Capital invested in FlagChem in 2010 and held 20% of its stake prior to the IPO.