Wuhan Tianyuan Environmental Protection Co, based in WHDZ [Photo provided to en.whkfq.gov.cn]
Wuhan Economic & Technological Development Zone, or WHDZ – located in Wuhan in Central China's Hubei province – is expected to become home to one more listed company, with Wuhan Tianyuan Environmental Protection Co's IPO application reviewed and approved by the Shenzhen Stock Exchange's GEM Listing Committee on Sept 2, according to local media reports.
The company, founded in 2009, is located on Shamao street in WHDZ.
It specializes in comprehensive environmental management services for waste leachate and highly difficult sewage treatment. Its main business includes R&D, manufacturing and the integration of environmental protection equipment, environmental protection engineering construction and environmental protection project operation services.
The company has independently developed eight core technologies and has 57 patents. It has undertaken nearly 300 projects in total, and it does business in 21 provinces and cities across the country.
Over the past three years, the company has experienced a period of rapid growth.
From 2018 to 2020, it achieved an operating income of 264 million yuan ($40.92 million), 451 million yuan, and 550 million yuan, respectively.
The company expects to achieve an operating income of 500 million yuan from January to September 2021, a year-on-year increase of 35 percent.
In its IPO application, the company stated it plans to raise 625 million yuan, which will be used for sewage treatment plant construction, environmental protection equipment intelligent manufacturing production line upgrades, R&D center upgrades, and the construction of a marketing center and marketing network.
