BRIEF: Butong passes listing hearing, targets IPO launch by month’s end
Premium nursery products maker Butong Group passed its listing hearing with the Hong Kong Stock Exchange on Thursday, paving the way for it to launch its IPO by the end of this month, according to a Chinese media report.
Citic Securities and Haitong International are underwriting the listing, though Butong has yet to announce any fundraising targets, according to an updated copy of its prospectus filed with the Hong Kong Stock Exchange on Thursday.
The company’s revenue rose 25% year-on-year to 726 million yuan in the first half of 2025 from 582 million yuan in the year-ago period, as its gross margin fell to 49.3% from 50.2% over that time, according to the updated document. Its profit rose 72% to 48.5 million yuan from 28.2 million yuan over that time.
By Doug Young
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