New Share News | Red Avenue New Materials Group (603650.SH) files a second application with the Hong Kong Stock Exchange.

According to the Hong Kong Stock Exchange's disclosure on August 21, Red Avenue New Materials Group Co., Ltd. (stock code: 603650.SH) submitted its listing application to the main board of the Hong Kong Stock Exchange, with Guotai Haitong/HAITONG INT'L as the sole sponsor. The company had previously submitted a listing application to the Hong Kong Stock Exchange on February 8. According to the prospectus, Red Avenue New Materials Group is a comprehensive new materials service supplier in China, focusing on advanced chemical products. The company is primarily engaged in the research and development, production, marketing, sales, and distribution of new chemical materials (defined as newly developed or improved traditional materials that possess superior performance or specific functional characteristics). During the track record period, Red Avenue New Materials Group's main business consists of three segments, namely (i) rubber additives for tires and other chemical products; (ii) electronic materials; and (iii) fully biodegradable materials.