Venture(US:VEMLY) Sou Hu Cai Jing·2025-06-25 01:20Core Viewpoint - Yifeng New Materials Co., Ltd. has received approval for its IPO on the ChiNext board, aiming to raise 844 million yuan for various projects, including high-refractive optical resin materials and R&D center construction [3] Company Overview - Yifeng New Materials is a high-tech enterprise focused on the organic sulfur chemical industry, particularly in the optical new materials sector, with a business layout centered around organic sulfur chemicals and sulfur-based new materials [3] IPO Details - The company plans to raise 844 million yuan through its IPO, with allocations as follows: 419 million yuan for high-refractive optical resin materials, 138 million yuan for high-end functional cyclic olefin materials, 134 million yuan for R&D center construction, 113 million yuan for digital construction, and 39.67 million yuan for marketing channel development [3] Financial Performance - From 2022 to 2024, Yifeng New Materials reported revenues of 714 million yuan, 625 million yuan, and 602 million yuan, respectively, while net profits were 135 million yuan, 137 million yuan, and 139 million yuan, indicating a trend of increasing profits despite declining revenues [6] - As of December 31, 2024, the company's total equity attributable to shareholders is projected to be 800.24 million yuan, with a debt-to-asset ratio of 19.26% [4] Shareholding Structure - The controlling shareholder, Ma Yunsheng, directly holds 32.45% of the company, while his spouse, Wan Chunling, holds 12.66%, and together they own 49.96% of Yifeng New Materials [4] - Ma Aifeng, Ma Yunsheng's sister, is also a significant shareholder with a direct stake of 0.26% [5] Management and Compensation - The board of directors consists of 9 members, with Liang Wangen serving as chairman and general manager [8][10] - Total compensation for directors, supervisors, and senior management from 2022 to 2024 was 7.25 million yuan, 7.54 million yuan, and 7.88 million yuan, respectively, accounting for 4.66%, 4.63%, and 4.93% of total profits [9]