慧谷新材IPO：斥资超1亿元“分红+买楼”后，募资2.5亿补流

Core Viewpoint - Guangzhou Huigu New Materials Technology Co., Ltd. (Huigu New Materials) has received acceptance for its IPO on the ChiNext board, with CITIC Securities as the sponsor and the company focusing on polymer materials and functional coating materials [2] Company Overview - Huigu New Materials specializes in the R&D, production, and sales of functional resins and functional coating materials [2] - The company plans to raise 900 million yuan through the IPO, with significant allocations for various projects including an expansion project and a research center [7][9] Real Estate Transaction - In late 2023, Huigu New Materials agreed to purchase a property from Guangzhou Henghui Materials Co., Ltd. for 65 million yuan, which is controlled by the same actual controller, Tang Jing [2][3] - The property transaction was based on an asset valuation report from Beijing Guorong Xinghua Asset Appraisal Co., Ltd. [2] Financial Performance - The company has shown a low debt-to-asset ratio of 30.29%, 22.88%, and 19.85% over the past three years, which is below the industry average [10] - Huigu New Materials has maintained a healthy cash position, with cash and cash equivalents amounting to approximately 231 million yuan as of December 31, 2024 [12] Rental Payments - Prior to the property purchase, Huigu New Materials had been leasing the property from Guangzhou Henghui, with rental payments of 6.2865 million yuan, 6.5383 million yuan, and 2.2677 million yuan for the years 2022, 2023, and 2024, respectively [4][5] - The rental payments represented 1.34%, 1.48%, and 0.47% of the company's operating costs for those years [5] Shareholder Changes - Following the real estate transaction, the ownership structure of Guangzhou Henghui changed, with all shares being transferred to a new individual, Deng Shigang, on July 3, 2024 [3]