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2022

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Meixinyi Shen accelerates the pace of listing on the North Stock Exchange.

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Zonsen Power recently announced that Chongqing Meixin Yishen Machinery Co., Ltd. (Meixin Yishen 873833), a subsidiary of the company, has decided to prepare to apply for a public offering and list it on the Beijing Stock Exchange.

Zonsen Power recently announced that Chongqing Meixin Yishen Machinery Co., Ltd. (Meixin Yishen 873833), a subsidiary of the company, has decided to prepare to apply for a public offering and list it on the Beijing Stock Exchange.

Meixinyishen is a listed enterprise in the national small and medium-sized enterprise share transfer system (new third board). The preparation of IPO is to further promote its own business development, improve its business strength and comprehensive competitiveness.

Meixin Yishen Company was established on June 29, 2012 with a registered capital of 66.325599 million yuan. Its legal representative is Xu Zhengming. Its residence is located in Julong Avenue, Lidu New District, Fuling District, Chongqing. Its main business includes internal combustion engine crankshafts, refrigeration and air compressor crankshafts and R & D, production, sales and service of its related products.

The actual controllers of Meixin Yishen are Xu Zhengming and Wang Anqing, holding 23.95 percent and 15.35 percent of the shares respectively. In addition, Zonsen Power (001696) is the second largest shareholder with a 19.39 per cent stake, while State-owned Fuling Guotou holds 15.35 per cent.

As of June 30, 2022, the company had total assets of 0.703 billion yuan and net assets of 0.456 billion yuan. In 2020, 2021 and the first half of 2022, the operating income was 0.407 billion yuan, 0.529 billion yuan and 0.262 billion yuan respectively, and the net profit attributable to the mother was 57.2761 million yuan, 61.4093 million yuan and 24.2317 million yuan respectively.

It is reported that the board of directors of Meixinyishen has passed the proposal of "on the company's public offering of shares and listing on the Beijing Stock Exchange to employ intermediary agencies", and plans to employ CITIC Securities and Daiwa Securities (China) as the joint sponsor (lead underwriter) of the IPO; The special legal advisers and audit institutions to be hired for listing are Beijing global law firm and Tianjian accounting firm (special general partnership); and in the near future to the China Securities Regulatory Commission Chongqing regulatory bureau to apply for counseling for the record.

The company reminds that Meixin Yishen is currently a basic-level listed company and must enter the innovation level before it can declare a public offering of shares and be listed on the North Stock Exchange. At present, it has been listed for less than 12 months, and it must be listed for 12 months before the relevant declaration can be made.

Meixin Yishen is currently issuing 2.9833 million shares at a price of 8.38 yuan per share and raising 25 million yuan.

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