Xingxin New Materials Officially Launches IPO

On November 30, Xingxin New Materials disclosed its letter of intent for an initial public offering of shares and officially launched its offering.

The funds raised this time are planned to be invested in 14,000 tons/year environmentally friendly solvent products and 5,250 tons/year polyurethane foaming agent projects, 8,800 tons/year piperazine series products, 74,600 tons/year heavy metal chelating agents, 1,000 tons/year bismorpholino ethyl ether project, R&D building construction project and supplementary working capital.

It is reported that the environmentally friendly solvent series products produced by the raised investment project are mainly used in the fields of electronic chemicals and environmentally friendly chemicals. Among them, the main ones used in the field of electronic chemicals are photoresist strippers, and N-hydroxyethylpiperazine is one of the most important raw materials; Applications in the field of environmentally friendly chemicals include desulfurization and decarbonization, solidification and stabilization of heavy metals in waste incineration fly ash, and treatment of heavy metals in water. The market prospects are broad.

In addition, Xingxin New Materials has self-produced the core raw material hexaoctapiperazine through the raised investment project, further extending to the upstream industrial chain, which is conducive to improving the stability of the company's supply chain.

The prospectus disclosed that the company has now built a complete industrial chain of piperazine derivatives, covering N-hydroxyethylpiperazine, triethylenediamine, N-methylpiperazine, N-ethylpiperazine, desulfurization, decarburization agents, and other product lines, leading the industry in terms of piperazine derivative types, production capacity and performance.

At the same time, the company has established strategic cooperative relationships with Dongjin, Jingxin Pharmaceuticals, Merck, Huafon Group, Shell, Nouryon and other companies and entered their global procurement system.