New journey of IPO of coating enterprise Science and Technology Innovation Board

In addition to the main board, the small and medium-sized board, the growth enterprise board and the new three board, there is a new choice for coating enterprises - Science and technology innovation board. It is understood that the science and technology innovation board was established by the state at the opening ceremony of the first China International Import Expo on November 5, 2018. It is a new board independent of the existing main board market, and a pilot registration system is carried out in this board. When the concept of scientific and technological innovation board came into being, it was called "NASDAQ" in China by the market, and it was close to Hong Kong stock market in terms of pricing, trading and other aspects. Shanghai Stock Exchange pointed out that science and technology innovation board mainly serves enterprises that conform to national strategy, have core technology, have good development prospects and market recognition. The purpose of setting up the science and technology innovation board is to promote the development of science and technology innovation oriented enterprises, make up the short board of capital market serving science and technology innovation, make it get more capital support, enhance the inclusiveness of capital market to the real economy, and cultivate enterprise resources for the capitalist markets such as the Shanghai Stock Exchange and the national stock exchange system. For the enterprises who want to impact the capital market, the technology innovation board is obviously an extremely important choice. Therefore, since the announcement of the establishment of science and technology innovation board, China's capital market and technological innovation enterprises have shown great concern about this.

As a member of the traditional chemical industry chain, how will coating enterprises and raw material manufacturers respond to this opportunity? According to the latest news, some coating enterprises and raw material suppliers with the strength of scientific and technological innovation have begun to prepare for the impact of scientific and technological innovation board. The new process of IPO of coating enterprises: Science and technology innovation board impacts the listing of science and technology innovation board. The examination and approval of the listing of science and technology innovation board enterprises by Shanghai stock exchange includes two main links: acceptance and examination and inquiry. According to the list of science and technology enterprises that have been accepted by Shanghai Stock Exchange, as of 17:00 on April 24, 90 enterprises have applied for registration as science and technology innovation board enterprises, 16 of which have been accepted and 74 have been questioned. Reporters check the list and find that jiuri new material, Lianrui new material and other two raw material manufacturers for coating have applied for listing on the science and technology innovation board, and have been accepted. The reporter noted that China Merchants Securities has completed the guidance work of the first public offering of jiuri new material on April 8 and listing on the science and technology innovation board. According to Huicong coatings. Com, on January 11, 2019, China Merchants Securities signed a coaching agreement with jiuri new material, and on January 14, submitted jiuri new material listing counseling registration data. According to the relevant laws and regulations such as the administrative measures for the registration of the first public offering of shares of science and technology innovation board (for Trial Implementation), China Merchants Securities has checked whether jiuri new materials meet the positioning requirements of science and technology innovation board.

After verification, China Merchants Securities believes that jiuri new material meets the requirements of facing the world's scientific and technological frontier, facing the main economic battlefield, facing the major national needs, meeting the national strategy, possessing key core technology, outstanding scientific and technological innovation ability, mainly relying on the core technology to carry out production and operation, with strong growth and meeting the requirements of the positioning of scientific and technological innovation board. According to the public information, Tianjin jiuri New Material Co., Ltd. was founded in 1998 and became the first listed company of the new third board in 2002. It is mainly engaged in the R & D, production and sales of a series of photoinitiators, which are one of the main components of UV curing materials (UV coating, UV ink, UV adhesive). Jiuri new material is one of the main suppliers of photoinitiator in the world, with a market share of about 30% in China's photoinitiator business. From 2016 to 2018, jiuri new material achieved revenue of 639 million yuan, 740 million yuan and 1050 million yuan respectively, with net profit of 41.4094 million yuan, 50.5923 million yuan and 175 million yuan, meeting the listing conditions of "market value of no less than 1 billion, profit for two consecutive years, and accumulated net profit of no less than 50 million after deducting non post profit in the last two years". According to the plan, jiuri new material will raise 1.395 billion yuan for the construction project in this listing. Among them, 1.341 billion yuan is used in the construction project of 87000 tons of light curing series materials annually, and 54.7066 million yuan is used in the reconstruction project of light curing technology research center. New IPO journey of coating enterprises: Science and technology innovation board. In addition, Jiangsu Lianrui New Material Co., Ltd., the supplier of industrial powder material application scheme, has also been investigated and verified by Dongguan securities.

After verification, the members of Dongguan securities core group agreed that the first public offering of Lianrui new material was in line with the current policies and conditions, and agreed to recommend Lianrui new material as a sponsor for the first public offering of shares and submit the application materials for the listing of Lianrui new material on science and technology innovation board to Shanghai Stock Exchange. According to the prospectus issued by Lianrui new material, the company plans to raise 285 million yuan for the construction of silicon powder production base, intelligent upgrading and capacity expansion of silicon powder production line, high liquidity and high filling capacity expansion of fused silicon powder, R & D center construction project and supplementary working capital project. The construction period of all construction projects is 1.5 years. According to the public information, Lianrui new materials is committed to providing competitive solutions and services for electronic materials, electrical insulation materials, special ceramics, precision casting, paint coatings, adhesives, functional rubber, plastics, advanced building materials and other functional applications. From 2016 to 2018, the operating revenue of Lianrui New Material Co., Ltd. was 153.63 million yuan, 210.96 million yuan and 2781.1 million yuan respectively, and the net profit was 32.709 million yuan, 42.2489 million yuan and 58.3665 million yuan respectively. At the time of the launch of the science and technology innovation board, the national stock transfer company once said that the companies listed on the new third board did not need to delist on the new third board during the preparation or application for the listing of the science and technology innovation board. Therefore, the number of new third board companies announced to be listed on the science and technology innovation board is increasing after the transition system is convenient. Among them, with R & D, production and sales of industrial coatings as the core, huierming, a high-tech enterprise with business scope covering industrial coatings, the whole industrial chain of coating and related trade finance, recently announced that it plans to spin off its subsidiary to impact the science and technology innovation board.

The reporter learned that huierming (Fujian) Chemical Industry Co., Ltd. held a listing launching ceremony on April 3, 2019. Prior to that, the board of directors of the group deliberated and passed the proposal of huierming (Fujian) Chemical Industry Co., Ltd. on splitting up its wholly-owned subsidiary to apply to Shanghai stock exchange for listing on science and technology innovation board and the first public offering of shares. After the deliberation of the general meeting of shareholders, the group decided to spin off its subsidiaries to impact the science and technology innovation board, and the initial structure of the listing echelon was basically formed. New journey for IPO of coating enterprises: Fang bin, general manager of huierming, science and technology innovation board, said: "in 2019, opportunities and challenges coexist for huierming. As a scientific and technological innovation enterprise that has been deeply engaged in the field of high-tech coating for many years, the company has actively responded to the call of the state and has fully possessed the strength of landing on the science and Technology Innovation Board of Shanghai Stock Exchange. " According to the latest news, huierming group is currently under the guidance of listing. According to the plan, huierming group is expected to submit listing application to Shanghai Stock Exchange in June 2020, and huierming parent company does not exclude the possibility of impacting the main board or small and medium-sized board in a few years. At present, a number of investment institutions have contacted with huierming group, and a number of investment institutions, including counseling brokers, are expected to invest more than 150 million yuan. Huierming group said it hopes to take the company to a higher level and set a new milestone for the rapid development of enterprises through docking with the capital market. More and more enterprises have been listed in the backup enterprises list of local government before applying for listing of R & D board, jiuri new material, Lianrui new material and other enterprises.

It is understood that in order to support the qualified scientific and technological innovation enterprises to speed up their landing on the stock exchange's scientific and technological innovation board and enhance the financing ability of scientific and technological enterprises, Fujian Provincial Local Financial Supervision Bureau plans to establish a "reserve enterprise pool of scientific and Technological Innovation Board", and select the scientific and technological enterprises with an average revenue of more than 100 million yuan in the past two years for warehousing cultivation. On November 27, 2018, the science and Technology Department of Fujian Province announced the "list of reserve enterprises to be submitted to the" science and Technology Innovation Board "among provincial innovative enterprises". On the list, coating and raw material enterprises such as sankeshu coating Co., Ltd., Xiamen Shuangrui marine coating Co., Ltd., Xinhe New Material Co., Ltd., Fujian kuncai material science and Technology Co., Ltd., Zhangzhou xinzhanwang Chemical Co., Ltd. are listed. According to the public information, these enterprises are all innovative enterprises in Fujian Province. At present, the preliminary promotion and preparation work to promote the listing of science and technology innovation board enterprises in Fujian Province are in full swing. Science and technology + Innovation ≠ science and technology innovation board coating enterprises applying for listing on science and technology innovation board has not become an industry-class phenomenon, but the idea / practice of building science and technology innovation enterprises by coating enterprises has already emerged. Under the guidance of "made in China 2025" strategic planning and the promotion of intelligent manufacturing wave, China's traditional manufacturing industry has started a comprehensive transformation, especially in the coating industry, scientific and technological innovation has gradually evolved into an important factor in the comprehensive competitiveness of enterprises, many coating enterprises have increased R & D investment to enhance their core competitiveness. New journey of IPO of coating enterprises: Science and technology innovation board according to the reporter, the three enterprises applying for listing of science and technology innovation board have increased their R & D investment in recent years, and have made very good achievements in related fields. Among them, from 2016 to 2018, the R & D investment of jiuri new materials accounted for 3.97%, 3.91% and 4.30% of the revenue respectively.

From January to March 2019, the proportion of long-term new material R & D investment reached 4.04%. Up to now, jiuri new material has a number of patents and non patent technologies, including 37 invention patents and 6 utility model patents. The company has presided over 2 and participated in the preparation of 4 industry standards, undertaken a number of major scientific research projects, and has applied for 32 invention patents that are still under examination. In 2016-2018, R & D investment of Lianrui new materials accounted for 4.64%, 3.92% and 3.80% of total revenue respectively. Up to now, Lianrui new material has obtained 41 patents, including 17 invention patents, and has accumulated rich production process and technical experience in long-term R & D experiments and production practices. Among them, the project of "complete technology and industrialization development of spherical silica powder prepared by flame method and its application in integrated circuit" undertaken by the company won the first prize of science and technology progress of China Building Materials Federation in 2018, and was nominated as the second prize of national science and Technology Progress Award in 2019. Among these three enterprises, huierming is the one with the largest year-on-year growth in R & D expenditure. From 2016 to 2017, R & D expenditure of huierming was 2.0416 million yuan and 5.4209 million yuan respectively, an increase of 169.20% and 165.52% compared with the same period of last year. In the first six months of 2018, huierming invested 3.922019 million yuan in product technology research and development. The growing R & D team and growing R & D strength lay the foundation for huierming to achieve rapid growth. According to the 2018 annual performance express released by huierming, during the reporting period, the company's operating profit increased by 88.53% to 34939694 yuan, and the net profit attributable to the shareholders of the listed company increased by 133.15% to 25663923 yuan. Jiuri new material, Lianrui new material, huierming and other enterprises intend to impact the science and technology innovation board, which has nothing to do with their strong R & D strength, which also strengthens their enterprise confidence to a certain extent. From the perspective of the verification work of China Merchants Securities and Dongguan securities on jiuri new material and Lianrui new material, the verification scope of science and technology innovation board on enterprises applying for listing includes not only scientific and technological innovation ability, market influence, relationship with upstream and downstream partners