Anhui Zhongcao Fragrance Co has listed on the Beijing Stock Exchange, with an IPO price of 7.5 RMB ($1.04) per share, issuing a total of 14.95 million shares at a price-to-earnings ratio of 14.93 times. The company’s current market value is approximately 1.538 billion RMB ($216.3 million), making it the first flavor and fragrance company to go public in China this year. Established in 2009, Zhongcao Fragrance focuses on the research, development, production, and sales of flavors and fragrances, with core businesses including cooling agents, synthetic fragrances, and natural fragrances. Its end customers mainly include well-known domestic and international flavor and fragrance companies such as Symrise, Givaudan, and Apple Flavor & Fragrance Group.