The China Securities Regulatory Commission announced on July 21 that it has approved the famous Chinese scissors brand Zhang Xiaoquan's initial public offering (IPO) on the Nasdaq-style ChiNext board of the Shenzhen Stock Exchange.
Zhang Xiaoquan will become the country's first-ever A-share listed scissors maker.
The company traces its history to 1628 when a skillful scissor maker Zhang Xiaoquan and his son left their hometown in southern Anhui province for Hangzhou, capital of Zhejiang province, where they settled to hand-make high-quality scissors from premium steel native to the Zhejiang county of Longquan.
Zhang created his namesake scissors brand in 1663. The Hangzhou-based brand has been wildly popular across the country. It won numerous awards for its quality at expos held at home and abroad in the early 20th century. In 2006, the Ministry of Commerce inscribed it on the list of the first group of "Chinese Time-Honored Brands".
In 2020, Zhang Xiaoquan posted 572 million yuan ($88.34 million) in operating revenue and 77.2 million yuan in net profit.
Sales of knives and scissors contributed to more than 80 percent of the company's operating revenue.
Diverse products are seen on the official website of Zhang Xiaoquan. [Photo/zjol.com.cn]