The China Securities Regulatory Commission has approved the IPO registration of Gu Mi Cashmere in the Shenzhen Stock Exchange.

On March 7, the China Securities Regulatory Commission approved the registration of Anhui Gumi Feather Material Co., Ltd.'s initial public offering. Gumi Feather Material plans to list on the Mainboard of Shenzhen Stock Exchange, with Guosen Securities as the sponsor, and intends to raise RMB501.04 million. The Company's main business focuses on the research, production, and sales of high-grade feather products, mainly goose and duck feathers, which are mainly applied in the field of feather products such as clothing and bedding. During the reporting period, the Company adopted the direct sales mode and directly signed sales contracts with customers. The Company's sales pricing is based on market price, combined with market supply and demand, raw material price fluctuations, market position and bargaining power of customers, and specific differences in product indicators, through customer quotation, Company quotation, negotiated pricing and other processes, and finally determined through market-oriented commercial negotiations. The Company's current financing mainly goes to "Year-end 2,800-ton Functional Feather Green Manufacturing Project (Phase I)", "Technology and Research and Development Center Upgrade Project", and "Supplemental Working Capital" project, where: "Year-end 2,800-ton Functional Feather Green Manufacturing Project (Phase I)" is used to improve production capacity. The Company's production capacity utilization rate has been high in recent years, and it is imperative to expand production capacity; "Technology and Research and Development Center Upgrade" project is an upgrade of the existing CNAS-certified R&D center. With the improvement of the Company's business scale, the upgrading of related R&D and testing capabilities is very necessary; "Supplemental Working Capital" project is used to meet the working capital needs brought by the continuous growth of business, providing guarantee for the Company's stable development.