Venture(US:VEMLY) Zheng Quan Zhi Xing·2025-06-26 16:51Core Viewpoint - The company, Tongyu Advanced Materials (Guangdong) Co., Ltd, is planning to issue shares for listing on the ChiNext board, aiming to expand its production capacity of electronic resins, primarily used in copper-clad laminate production, to meet increasing customer demand and enhance domestic production levels [1][2][3]. Group 1: Company Overview - The main business of the company is the research, production, and sales of electronic resins, which are primarily applied in the production of copper-clad laminates [2][21]. - The company has a production capacity utilization rate of 100.04%, 105.93%, and 116.37% over the reporting periods, indicating a tight capacity situation [3][4]. - The company aims to enhance its production capacity significantly through the fundraising project, targeting an annual production capacity of 200,000 tons of electronic resins [3][17]. Group 2: Financial and Operational Goals - The funds raised will be used for the construction of the Jiangxi Tongyu New Materials Co., Ltd. project and to supplement working capital, which is crucial for resolving capacity bottlenecks and improving profitability [3][20]. - The company reported main business revenues of 119,243.27 million yuan, 88,604.31 million yuan, and 94,984.04 million yuan for the years 2022, 2023, and 2024 respectively, showing fluctuations in revenue [21][24]. Group 3: Market Position and Competition - The company is positioned in a growing market for high-performance electronic resins, with increasing demand driven by the upgrade of copper-clad laminate products towards lead-free and halogen-free options [17][24]. - The company has established long-term stable partnerships with leading manufacturers in the copper-clad laminate industry, such as Nan Ya Plastics, Kingboard Group, and others, enhancing its competitive position [24].