May 21, 2012, Guasu Hongliang Leather Co., Ltd. was granted permission to launch initial public offering (IPO) of no more than 43.4 million A shares by China Securities Regulatory Commission ("CSRC").

Hongliang Leather is primarily engaged in developing manufacturing and selling tanned leather products.  It has taken up prominent position in shoe upper leather industry after many years development and possesses many leading technologies in the field.

Jingtian & Gongcheng acted as the issuer's lawyer.