CSRC approves Fuen Stock's IPO registration at the Shenzhen Stock Exchange.

On January 16th, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering of Shares of Hangzhou Fuen Co., Ltd." It is reported that Fuen Co., Ltd. plans to list on the Shenzhen Stock Exchange main board, with CITIC SEC as its sponsoring institution, aiming to raise 1.25 billion yuan. According to the prospectus, Fuen Co., Ltd. is a global ecological environmental protection fabric supplier with sustainable development as its core. Its main business is the research and development, production, and sales of ecological environmental protection fabrics. It has now become a large enterprise integrating fabric design, research and development, spinning, weaving, printing, dyeing, finishing, and sales.