The IPO of Zhongchuang Chemical Industry on the Shanghai Stock Exchange has been "terminated". Both the production capacity of butyl acetate and isopropyl acetate rank first in the industry.

On March 28th, Hunan Zhongchuang Chemical Co., Ltd. (referred to as Zhongchuang Chemical) had its IPO review status on the Shanghai Stock Exchange Main Board changed to "terminated". This was due to Zhongchuang Chemical and its sponsor withdrawing the application for listing. According to Article 63 of the Shanghai Stock Exchange Stock Issuance and Listing Review Rules, the exchange terminated the review for its listing. The prospectus shows that Zhongchuang Chemical is a high-tech chemical enterprise with a core business of producing, researching, and selling new environmentally friendly solvents. Its main products include n-butyl acetate, isopropyl acetate, and acetone. The company's products are mainly used in coatings, inks, adhesives, pesticides, pharmaceuticals, chemical dehydration, extractive distillation, organic synthesis, electronic cleaning, flavors, and fragrances, and can also be used as gasoline blending components. The main raw materials needed for the company's production operations are ether carbon four, acetic acid, and propylene, with electricity and steam as the main sources of energy. Major suppliers include Petrochina Chemical Group Co., Ltd. and its subsidiaries and major domestic chemical production and sales enterprises. The company formulates production plans based on market conditions, organizes production according to the production plan, and adjusts the production plan based on procurement and sales conditions. The company's sales model is direct sales to end-users and traders. The company currently has a scale production line with an annual production capacity of 200,000 tons of n-butyl acetate, 50,000 tons of isopropyl acetate, 20,000 tons/30,000 tons of acetic esters/n-butanol joint device, and 100,000 tons of acetone. The production capacity and output of n-butyl acetate and isopropyl acetate both rank first in the industry. The actual funds raised by the company, after deducting issuance expenses, will all be used for projects related to the company's main business, as follows: Financially, in 2021, 2022, 2023, and January to June 2024, the company's operating income is expected to be approximately 1.169 billion yuan, 1.284 billion yuan, 1.392 billion yuan, and 823 million yuan, respectively. Net profit is expected to be approximately 132 million yuan, 122 million yuan, 119 million yuan, and 84.1274 million yuan, respectively.