Raised over 1.2 billion! Another chemical 'little giant' sprint IPO!

Recently, Anhui Xinyuan Technology Co., LTD. (referred to as: Xinyuan Technology, company) IPO application accepted by the Shanghai Stock Exchange, to land on the main board. The total amount raised is 1.247 billion yuan, sponsored by Citic Jiantou Securities Co., LTD. The raised funds are intended to be used for projects with an annual output of 43,000 tons of acetal series fine chemicals and 5,000 tons of electronic special materials, intelligent and digital upgrading projects, repayment of bank loans and replenishment of working capital, as shown in the following table:

According to the prospectus, the company is a national high-tech enterprise specializing in the research and development, production and sales of fine chemicals, a state-level specialized, special and new "little giant" enterprise, an Anhui Province innovative enterprise, a Anhui Province technology innovation demonstration enterprise, and a Anhui Province industry-university-research joint demonstration enterprise. During the reporting period, the main products include epoxy active diluent and epoxy resin series products. In the future, we will further expand the acetal series advanced solvent and electronic grade special epoxy resin series products.

From January to June of 2019, 2020, 2021 and 2022, the company achieved operating revenue of 1.239 billion yuan, 1.274 billion yuan, 1.957 billion yuan and 1.002 billion yuan respectively. In the same period, the net profit attributable to the shareholders of the parent company was 83.051,300 yuan, 112 million yuan, 130 million yuan and 68.5993 million yuan respectively.

Xinyuan Technology belongs to the chemical raw materials and chemical products manufacturing industry. In the past year, 74 companies in this industry applied for listing, 10 of which were successful (9 on the Growth Enterprise Market and 1 on the Science and Technology Innovation Board), 1 was terminated, and the rest are still in the process. From the listing application places, the main board of the Shanghai Stock Exchange received 165 applications in the past year, 12 applications were successful, 5 applications were terminated, and the rest are still in the process. From the perspective of sponsors, Citic Jiantou Securities Co., LTD., in the past year, a total of 81 sponsors, 33 successfully, 2 terminated, the rest is still in the process.

The comparable companies of Xinyuan Technology are Hongchang Electronics, Acoli, Puyang Huicheng. From the listing performance statistics, Hongchang electronics on the first day of the market up to 137.78%, a Kao Li listed after 15 consecutive days a word board, a cumulative increase of 493.42%, Puyang Huicheng listed after 5 consecutive days a word board, a cumulative increase of 131.87%.

At present, the Shanghai Stock Exchange has accepted the application, investors interested in Xinyuan technology can keep an eye on it.