Annual Net Profit Of 2 Billion 200 Million Domestic Milk Brands, Feida, Will Be IPO In Hong Kong

According to relevant media, the infant formula milk producer China flying crane Co., Ltd. (hereinafter referred to as "Feihe Dairy") has passed the hearing of IPO on the main board of HKEx, and may raise $1 billion through initial public offerings.

From the prospectus, the income of Feida was 3 billion 724 million yuan, 5 billion 887 million yuan and 10 billion 392 million yuan as of 2016, 2017 and December 31, 2018 respectively. The net profit was 406 million yuan, 1 billion 160 million yuan and 2 billion 242 million yuan respectively. In 2019 Q1, the profits and profits of Feida were 2 billion 756 million yuan and 771 million yuan respectively. In 2018, Feida became the first domestic milk powder enterprise to achieve billions of revenue, achieving a total revenue of 11 billion 500 million yuan and a tax of 2 billion 500 million yuan.

According to relevant media, Feida was founded in 1962, formerly known as Zhao Guang farm dairy factory. In May 2003, flying crane landed on NASDAQ and became the first Chinese dairy company to list overseas. In July 2013, Feida dairy industry was delisted and privatized. Since its withdrawal from the US stock market, Feihe has been seeking a listing in Hong Kong. It was not until July 3rd of this year that the prospectus was formally submitted to the HKEx.