Elegant(SH:603221) Sou Hu Cai Jing·2025-06-11 08:49Company Overview - Zhejiang Xinhengtai New Materials Co., Ltd. (Xinhengtai) has been accepted for IPO on the Beijing Stock Exchange, with Zheshang Securities as the sponsor and Lixin Certified Public Accountants as the auditing firm [4] - Xinhengtai specializes in the research, manufacturing, and sales of functional high polymer foam materials, including chemical cross-linked polyethylene foam (PE Foam), electron beam cross-linked polyethylene foam (IXPE), and polypropylene microporous foam materials (MPP) [4] Industry Recognition - Xinhengtai has been recognized as a national-level "specialized, refined, characteristic, and innovative" small giant enterprise, a key small giant enterprise, and a high-tech enterprise in Zhejiang Province [4] - The company's products are widely used in well-known brands across various sectors, including construction decoration and new energy batteries, with applications in products from companies like CATL, BYD, and Huawei [4] Financial Performance - Xinhengtai's revenue for 2022, 2023, and projected 2024 is 530 million yuan, 679 million yuan, and 774 million yuan respectively, with net profits of 45 million yuan, 101 million yuan, and 91.76 million yuan [5] - The gross profit margins for the same years are 22.98%, 27.9%, and 25.37% [5] - As of December 31, 2024, total assets are projected to be approximately 1.03 billion yuan, with total equity of about 664.85 million yuan and a debt-to-asset ratio of 34.13% [6] Shareholding Structure - The controlling shareholders of Xinhengtai are Chen Chunping, Jin Wei, and their son Chen Junhua, who collectively hold 75.04% of the voting rights [6] - Chen Chunping directly holds 36.41% of the shares, while Jin Wei holds 30.24%, and Chen Junhua holds 4.74% [6][7]