Sex toy maker to debut on new board

The National Equities Exchange and Quotations, an over-the-counter style bourse also known as the New Third Board, is set to make history with the listing of the first sex industry-related stock.

According to information released by the board, Zhejiang Lover Health Science and Technology Co Ltd, a sex toy manufacturer, submitted an application on Friday to issue 79 million shares priced at 1 yuan ($0.15) apiece.

Disclosed information shows that sex toys are the company's mainstay business and accounted for 87.82 percent of its sales revenue during the first five months of this year. Closer scrutiny of the available information reveals that the company has enjoyed exceptionally high profit margins. Its gross profit rate, which was 43.94 percent in 2013, surged to 51.27 percent a year later. In the first five months of this year, the gross profit rate was about 46.41 percent.