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On May 21, Weixing Co., Ltd.(002003) announced that its shareholding subsidiary Zhejiang Weixing Optics Co., Ltd.(referred to as "Weixing Optics") had issued an initial public offering and applied for termination of review for listing on the GEM.

zyngacryptocurrency| Weixing Optics withdraws GEM IPO

It is reported that the actual controllers of Weixing Optics are Zhang Kapeng and Zhang Sanyun. Zhang Kapeng is known as the "Button King" by the outside world and is the head of Weixing Group. At present, Weixing Group already has two listed companies, Weixing Shares and Weixing New Materials, with a total market value of more than 40 billion yuan.

The prospectus shows that Weixing Optics is mainly engaged in ophthalmic optical lenseszyngacryptocurrencyR & D, design, production and sales. Since its establishment, the company has focused on the optical lens industry. After years of steady development and technical accumulation, the company has now become one of the well-known domestic optical lens companies.

Weixing Optics 'main products are ophthalmic optical lenses, including conventional lenses and functional lenses, of which functional lenses mainly include photochromic lenses, myopia management lenses and progressive lenses. During the reporting period, Weixing Optical products were sold to customers in more than 80 countries and regions on five continents around the world.

In terms of performance, from 2020 to the first half of 2023, Weixing Optics achieved revenue of 2.2%.zyngacryptocurrency.59 billion yuan, 3zyngacryptocurrency38 million yuan, 353 million yuan and 206 million yuan, and net profit for the same period was 20.5279 million yuan, 47.2499 million yuan, 61.1449 million yuan and 43.6591 million yuan respectively. From 2020 to the first half of 2023, Weixing Optics 'overseas sales revenue accounted for 48.35%, 49.66%, 52.35% and 50.21% of its main business income respectively, accounting for a relatively high proportion.

Looking back on its listing history, the IPO of Weixing Optics 'GEM was accepted in June 2023. The company originally planned to raise 458 million yuan for high-performance lens construction projects, optometry technology research and development center construction projects and supplementary working capital. In July of the same year, Weixing Optics was reviewed and inquired. As of the withdrawal of the IPO, the company had disclosed its response to the first round of inquiries.

The shareholding structure shows that Weixing Group directly holds 51% of Weixing Optics's shares, and the Weixing shares it controls hold 20.87% of the company's shares. Weixing Group directly and indirectly controls 71.87% of Weixing Optics's shares. It is the controlling shareholder of the company. At the same time, Zhang Kapeng and Zhang Sanyun hold 15.97% and 10.88% of Weixing Group respectively, and the two signed the contract.zyngacryptocurrencyThe "Concerted Action Agreement" is the joint actual controller of Weixing Group. Through Weixing Group and Weixing Shares, it controls 71.87% of Weixing Optics 'shares. It is also the joint actual controller of the company.