On November 26th, Rongye Food was listed on NASDAQ at a price of $4 per share, raising approximately $8.2 million. As of the close of trading on the first day of listing, Rongye Food was reported at $4.24 per share, up 6% from its issue price.
According to the prospectus, Rongye Food is a meat processing company from Zhongshan City, Guangdong Province, and was listed on the Korean Stock Exchange in 2018. At present, the company's products are mainly marketed and sold domestically through 7 self operated stores, 72 distributors, and 7 e-commerce platforms.
From 2022 to 2023, Rongye Food achieved revenue of 131 million US dollars and 134 million US dollars respectively; Achieved net profits of $11.194 million and $14.099 million respectively. (Kong Lingyi)