On April 19 before dawn, the CSRC (China Securities Regulatory Commission) pre-disclosed the draft prospectuses of 28 companies – the first time since October 28, 2012. And JiuHua Mountain Tourism Development ltd. (Jiuhua Tourism) is on the list.

Most of the 28 companies' prospectuses have been accepted and they are waiting for the results. The companies have altogether raised 12.70 billion yuan ($2.04 billion); 8.75 billion yuan ($1.40 billion) is from the 16 mainstream companies, 978 million yuan is from the 4 small and medium sized plate companies and the rest are from the 8 gem board companies.

According to Jiuhua Tourism, it is issuing no more than 2,768 shares of RMB common stock (A shares) this time. The fund will be used on some reconstruction projects in the scenic area and the repayment of bank loans. 150 million of the 345.51 million yuan ($55.48 million) will be paid to the banks, as the company was mainly financed through bank borrowings.

Founded in December 2000, Jiuhua Tourism was co-promoted by five Anhui enterprises with the Jiuhua Group as the major promoter. Current major operations of the company include hotel, cableway services, tourist transportation and travel agencies.

By the time the prospectus was signed, Jiuhua Group had held 45.46 percent of the total share capital, making it the controlling shareholder of Jiuhua Tourism. The actual controller of Jiuhua Tourism is the Jiuhua Mountain SASAC (State-owned Assets Supervision and Administration Commission), the only contributor of the Jiuhua Group.