Hongqi Chain to Be Listed on SZEX SME Board

2012-05-04

According to the CSRC's evening announcement on May 4th, Chengdu Hongqi Chain Co., Ltd. (“Hongqi Chain” for short) has passed the review of CSRC IPO Examination Committee. Another enterprise invested by Jiuding Capital is about to be listed in the A-share market. 

The prospectus shows that Hongqi Chain is to issue 50,000,000 shares, accounting for 25 % of post-issuance general capital (200,000,000 shares). Hongqi Chain is to be listed in Shenzhen Stock Exchange.

Hongqi Chain is a commercial chain enterprise with the largest scale in Western China, integrating chain operation, logistics and e-commerce. Current commodities include foods, cigarettes and wine, and daily necessities, with nearly 15,000 single products. So far, Hongqi Chain has nearly 700 long-term suppliers, 3 large-sized logistics centers, 1,126 direct-sale stores, and 4 franchised stores.

In 2011, Hongqi Chain realized the sales revenue of 3.448 billion yuan, with the total profit of 201 million yuan and the net profit of 170 million yuan.