Greene Biotech's IPO has been approved, making it one of the largest suppliers of Methyl Jasmonate and an important supplier of sandalwood products in China.

On May 28th, Green Biological Technology Co., Ltd. (referred to as Green Biology) passed the listing committee meeting of the Shenzhen Stock Exchange's Growth Enterprise Board IPO. Changjiang is its sponsor institution, planning to raise 690 million yuan. The prospectus shows that Green Biology is a pioneer and important well-known enterprise in China's spice industry. Since its establishment, the company has been focusing on the research and development, production, and sales of spice products, forming three major product series of turpentine oil, pine oil, and synthetic products. The specific products mainly include sandalwood series, methylcedryl ketone, turpentine ketone series, and nearly 40 sub-varieties. The company's products are mainly used downstream as raw materials for preparing daily chemical fragrances and are widely used in the fields of washing, cleaning, disinfection, and personal care products, with broad downstream market demand space. After more than twenty years of development and accumulation, Green Biology has formed core competitive strengths in high-quality spice product research and development and production. It is one of the few spice companies in China that master the production technology of turpentine ketone and realize industrialization. It is one of the largest suppliers of methylcedryl ketone in China and an important supplier of sandalwood products. The company is one of the first spice companies in China to enter the international fragrance and flavor market, and is the global leading registered company for REACH of five products including methylcedryl ketone, ethyl cedryl ester, dimethyl heptanol, dihydromyraxone, and cedrol. It has successfully entered into long-term stable cooperative relationships with international renowned fragrance and flavor companies such as Givaudan, DSM-Firmenich, IFF, Symrise, and P&G, as well as global supply chain systems of international famous daily chemical companies. The main business income of the company mainly comes from the sales of turpentine oil series, pine oil series, and synthetic series spice products. In each reporting period, the revenue of the above products accounts for over 97% of the main business income. Green Biology's main business is the research and development, production, and sales of spices. Its downstream customers are mainly large international fragrance and flavor companies, daily consumer goods companies, and large international traders. The company mainly obtains orders through participating in domestic and international fragrance and flavor exhibitions, customer referrals, and repeat purchases by old customers. It organizes procurement in a combined way of production-based ordering and safe inventory, and organizes production using a production-based sales and flexible stocking production model. In terms of finance, in the fiscal years 2023, 2024, and 2025, the company achieved operating income of approximately 735 million yuan, 961 million yuan, and 1.075 billion yuan respectively; during the same period, it recorded a net profit of approximately 93 million yuan, 150 million yuan, and 179 million yuan.