天富龙IPO注册生效：募资缩水3亿，实控人家族版图涉及房地产、汽配等

Core Viewpoint - Tianfulong Group Co., Ltd. has successfully registered its IPO on the Shanghai Stock Exchange, focusing on differentiated polyester short fibers and expanding its product range to include recycled colored polyester short fibers and new polyester materials [1][2]. Financial Performance - The projected operating revenues for Tianfulong from 2022 to 2024 are 2.576 billion, 3.336 billion, and 3.841 billion yuan respectively, with net profits of 358 million, 431 million, and 454 million yuan [1]. - As of the end of 2024, total assets are expected to reach 38.717 billion yuan, with equity attributable to shareholders at 34.719 billion yuan, and a debt-to-asset ratio of 10.32% [2]. IPO Details - The initial IPO application was accepted in June 2023, with an original fundraising target of 1.09 billion yuan, which was later revised to 790 million yuan in November 2024, reflecting a 28% reduction due to the cancellation of a 300 million yuan working capital project [2]. Shareholding Structure - The controlling shareholders, Zhu Daqing and Chen Hui, hold 61.81% and 17.49% of the shares respectively, collectively controlling 93.90% of the voting rights through a concerted action agreement [4][5]. - Zhu Daqing's family is involved in various businesses, including real estate and hospitality, with significant ownership stakes in multiple companies [5][6]. Related Party Transactions - Tianfulong has engaged in substantial financial transactions with related parties, including loans to companies controlled by Zhu Daqing's family, indicating a complex web of financial interdependencies [9].