九年三闯IPO！族兴新材转战北交所，客户涵盖立邦、阿克苏诺贝尔等

Core Viewpoint - Changsha Zuxing New Materials Co., Ltd. has had its IPO application accepted by the Beijing Stock Exchange, with West Securities as the sponsor [3] Company Overview - Zuxing New Materials was established in 2007 and focuses on the research and development of aluminum pigments and fine spherical aluminum powder, which are part of the non-ferrous metal functional powder materials in the new materials industry [3] - The company has notable clients including AkzoNobel, PPG, Nippon Paint, and BASF, among others [3] Financial Performance - Revenue for Zuxing New Materials is projected to be 629 million yuan in 2022, 690 million yuan in 2023, and 707 million yuan in 2024 [3] - Net profit attributable to the parent company is expected to be approximately 51.78 million yuan in 2022, 86.74 million yuan in 2023, and 58.72 million yuan in 2024 [3] Financial Metrics - Total assets as of December 31, 2024, are estimated at approximately 954.65 million yuan, with total equity of about 773.86 million yuan [4] - The company's debt-to-asset ratio has improved from 22.01% in 2022 to 9.91% in 2024 [4] - Gross profit margin is projected to be 21.27% in 2024, slightly down from 21.65% in 2023 [4] IPO History - Zuxing New Materials has attempted to go public multiple times, with its first application submitted in April 2016, which was withdrawn the day before the review [5] - The second attempt in July 2020 was also withdrawn 89 days later, leading to the termination of the review process [5] - The company signed a counseling agreement with West Securities in October 2020 and later changed its listing application from the Growth Enterprise Market to the Beijing Stock Exchange in March 2025 [6]