江顺科技启动招股 深耕铝型材高端装备领域 加速推进进口替代

Core Viewpoint - Jiangshun Technology (001400.SZ) has officially disclosed its prospectus for an initial public offering (IPO), aiming to issue 15 million shares at a price of 37.36 yuan per share, with expected fundraising of 560 million yuan to expand production of precision aluminum extrusion molds, build production lines for aluminum extrusion equipment, and supplement working capital [2] Group 1: Company Overview - Jiangshun Technology is a leading enterprise in the field of aluminum extrusion molds and supporting equipment in China, with over 20 years of industry experience and significant advantages in technology research and product innovation [3] - The company has established itself as a one-stop service provider for aluminum extrusion molds and equipment, having drafted the first industry standard for aluminum extrusion molds in the non-ferrous metal sector [3] - As of the end of 2024, Jiangshun Technology and its subsidiaries hold a total of 277 patents, including 61 invention patents, showcasing its leading technical strength in the domestic market [3] Group 2: Market Demand and Growth - The demand for aluminum profiles is continuously growing due to the rapid development of emerging industries such as new energy vehicles, photovoltaics, and rail transit, which require higher precision, stability, and intelligence in extrusion molds and equipment [3] - Jiangshun Technology has successfully broken the monopoly of foreign companies in the high-end market, promoting the process of domestic substitution [3] - The domestic extrusion mold market is estimated to reach approximately 6.251 billion yuan in 2023, with Jiangshun Technology holding a market share of 5.87%, positioning it among the industry leaders [4] Group 3: Financial Performance - Jiangshun Technology's core business includes aluminum extrusion molds and accessories, extrusion supporting equipment, and precision mechanical components, with molds and extrusion equipment contributing the majority of revenue [4] - From 2022 to 2024, the company's operating income is projected to grow from 892 million yuan to 1.136 billion yuan, with a compound annual growth rate of 12.85%, while net profit attributable to shareholders is expected to increase from 139 million yuan to 155 million yuan, indicating robust profitability [4] Group 4: Strategic Partnerships and Market Position - Jiangshun Technology has established long-term stable partnerships with major aluminum profile manufacturers both domestically and internationally, including leading companies in the industry [5][6] - The company is positioned to accelerate the trend of import substitution in the high-end aluminum extrusion mold and equipment market, which has been historically dominated by European and American companies [6] Group 5: Future Outlook - The company aims to enhance its production capacity and technical level through the IPO fundraising projects, which focus on expanding precision aluminum mold production and building aluminum extrusion equipment production lines [7] - Jiangshun Technology's goal is to become a global leader in the manufacturing of aluminum extrusion molds and supporting equipment, driven by technological innovation and strict management practices [7] - The IPO represents a significant milestone in Jiangshun Technology's development and reflects the acceleration of domestic substitution in China's high-end equipment manufacturing industry [7]