Fuxing China Group Ltd.

General Information
Business:

Through our operating subsidiaries in mainland China and Hong Kong, we are principally engaged in the production and sale of zipper sliders and zipper chains, trading of textile raw and auxiliary materials used in zipper production, and provision of zipper processing services in mainland China and Hong Kong. (Incorporated in Bermuda)

Since our establishment in 1993, Fuxing Group has built up a credible track record and market reputation with a diversified customer base of over 1,600 customers in China, including many renowned brands such as Anta, Septwolves, LiNing, 361°, Samsonite and Northpole China. We aim to become one of the leading zipper product manufacturers and to achieve recognition as a market leader for our brand name, quality of products and research and development (“R&D”) capabilities.

Our zipper products consist mainly of zipper sliders and zipper chains and are widely used in apparel (including sportswear), shoes, camping equipment, bags, such as handbags, briefcases, luggage and laptop bags, and upholstery furnishings, such as bedding and sofa covers. Our products are sold mainly to China local manufacturers of apparel and footwear products, camping equipment, bags, manufacturers of upholstery furnishings, as well as other zipper manufacturers which further process or assemble our zipper products in order to customize these according to their customers’ needs. Some of the zipper products which we sell are manufactured under our “3F” brand name. In addition, we sell to trading companies which export our zipper products to overseas markets, including Australia, European countries, such as Russia, Turkey, Spain, Italy, Poland, Belgium, Greece, Slovenia and Lithuania, and Asian countries, such as South Korea, Thailand, Vietnam and Indonesia.

Our operating subsidiary, Fook Hing Trading in Hong Kong, is primarily engaged in the trading of textile raw and auxiliary materials, including rubber thread, nylon fabric and nylon yarn.

Our operating subsidiaries, Fulong Zipper, Fuxin Electroplating and Jianxin Weaving, provide zipper processing services, including color dyeing of fabric tapes for zippers, electroplating services for zipper sliders and manufacturing and sales of dyed yarn.

Our manufacturing facilities are located in Jinjiang City, Fujian Province. Our manufacturing operations are highly integrated, and we have an extensive range of machinery and equipment at our manufacturing premises. Building on our technical knowledge and our manufacturing expertise, we are able to integrate our operations and business to cater to our customers’ needs. We have the ability to manufacture the entire zipper product from mold-making for the production of our zipper sliders to the manufacturing of fabric tape for zipper chains. Our range of manufacturing machinery also enables us to produce our zipper chains and zipper sliders using a wide range of materials, colors, and sizes in accordance with our customers’ requirements. Most of our raw materials are mainly procured from our suppliers located in Fujian Province.

We accord high priority to quality control during the production processes of our products. Our subsidiary, Fookhing Zipper, was awarded the GB/T 19001-2016/ISO 9001:2015 Quality Management System Certificate, valid through September 2025, by the World Standards for Certification Center Inc. (“WSF”) (北京世标认证中心有限公司), a third-party certification body headquartered in China.

To ensure continual innovation in product quality and improved efficiency, we place strong emphasis on product and technical R&D. As of July 31, 2024, we had an R&D team comprised of 20 members. Our R&D team leader, Mr. Yanming Luo, has 20 years of industry experience and was the inventor of 69 valid patents related to zipper design as of August 2024. 

We generate revenue primarily from three sources, (i) production and sale of zippers, including zipper chains and zipper sliders (the “Zipper Segment”), (ii) trading of raw textile and auxiliary materials (the “Trading Segment”), and (iii) zipper processing services (the “Processing Segment”).

Note: Net  income and revenue are for the 12 months that ended March 31, 2024.

(Note: Fuxing China Group Ltd. filed an F-1/A on Aug. 21, 2024, and cut its IPO’s size: The number of ADS was cut to 1.0 million American Depositary Shares (ADS) – down from 2.0 million ADS – and the price range was revised to $4.00 to $6.00 – from $4.00 to $4.50 previously – to raise $5.0 million.)

Industry: MISCELLANEOUS MANUFACTURING - ZIPPERS
Employees: 1068
Founded: 1993
Contact Information
Address Hangbian Industry Area Longhu Town, Jinjiang City Fujian Province 362241 The People’s Republic of China
Phone Number +86-595-85287788
Web Address http://www.3fzipper.com/
View Prospectus: Fuxing China Group Ltd.
Financial Information
Market Cap $9.3mil
Revenues $106.0 mil (last 12 months)
Net Income $1.1 mil (last 12 months)
IPO Profile
Symbol FFFZ
Exchange NASDAQ
Shares (millions): 1.0
Price range $4.00 - $6.00
Est. $ Volume $5.0 mil
Manager / Joint Managers Boustead Securities
CO-Managers
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change