Wenzhou Achang Synthetic Leather Co., Ltd. Will Choose Overseas Listing.

Experts believe that after joint technology, more and more Wenzhou enterprises will choose to list overseas. According to his understanding, there may be two other Wenzhou enterprises listed on the Korean stock exchange in Singapore (KRX, hereinafter referred to as "Korea Exchange"). The representative of Beijing office Chen Guoqing said yesterday that China United Technology Holdings Limited (hereinafter referred to as "joint technology") is expected to visit the Korea Exchange recently.

Chen Guoqing said it would disclose the listing information in a timely manner according to the regulations of the Korean exchange, while Zhang Hongjie, the chairman of the joint technology, confirmed the news through a minister named Zhuang, but the two did not disclose the scale of the financing and the time to market.

According to the joint technology website, the company is a registered foreign investment holding group in Hongkong. Currently, there are mainly 3 mainland enterprises in China: Wenzhou Achang synthetic leather Co., Ltd., Fujian Huayuan Fiber Co., Ltd. and Shishi Li Heng printing and dyeing Co., Ltd.

Earlier media reports said that joint technology as early as January 2007 designated South Korea Daewoo securities as the main broker.

The joint technology which was originally expected to be listed on the main board of the Korean stock exchange between October and November last year failed to pass the listing examination first, and was left behind in the distribution of new shares after the examination. It was a twists and turns, but neither the joint technology nor Chen Guoqing commented on the matter.

The Korean stock exchange merged its main board, gem and futures market in 2005, and restructured it into a joint stock company. At the end of the same year, foreign enterprises were allowed to issue shares and list on the stock market through IPO.

In May 8th this year, its Beijing office was officially listed, when Li Zhenghuan, chairman of the Korea exchange, said that Korean investors had a high enthusiasm for investment in Chinese enterprises. China could be called the "IPO base of the world".

Li Zhenghuan said at the time that the foreign companies listed on the Korean exchange were basically the same as those in South Korea in listing management, but there were differences in the disclosure of language and the deadline for submission of annual reports.

If a foreign enterprise can submit an annual report within 120 days after the end of the accounting year, the Korean enterprise shall submit it within 90 days. Besides, the average rate of underwriting of the Korean exchange is 6%, lower than that of the Hongkong area (8%) and Singapore (12%).

Zhou Dewen, vice president of China SME Association and President of Wenzhou Academy of Management Sciences, said yesterday that after joint technology, more and more Wenzhou enterprises will choose to go abroad.

Zhou Dewen said that since this year, he has constantly received visitors from financial institutions in the UK, the United States, Switzerland, Singapore, Hongkong and other countries and regions, and recommended excellent Wenzhou enterprises for them. According to his understanding, there may be two other Wenzhou enterprises listed in Singapore.

"Today, I also received a call from a Hongkong fund. I would like to recommend some list of enterprises that might be listed in Hongkong. These agencies all expressed their optimism about the future of Wenzhou's private enterprises."