On October 15, the application of Luoyang Zhongchao New Materials Co., Ltd.'s IPO registration in Sci-Tech innovation board was accepted.

According to the prospectus, the company plans to issue no more than 18.7 million shares this time, aiming to raise about 916 million yuan (136 million US dollars). The raised funds are planned to be used in the company's construction project with an annual output of 120,000t of aluminum hydroxide micropowder, technological transformation project, R&D center construction project, and high white ultrafine magnesium hydroxide flame retardant project with an annual output of 30,000t, and the supplement of working capital.