Core Viewpoint - Daosheng Tianhe Material Technology (Shanghai) Co., Ltd. is positioned as a leading enterprise in the high-performance thermosetting resin materials industry, focusing on new materials for the renewable energy sector and aiming for global leadership in comprehensive new material solutions [2][18]. Business Overview - The company specializes in the research, production, and sales of high-performance thermosetting resin materials, including epoxy resins, polyurethanes, acrylics, and organosilicon, with applications in wind energy, new energy vehicles, and industrial adhesives [3][4]. - The product lines include materials for wind turbine blades, new composite materials, and adhesives for new energy vehicles, serving various sectors such as wind energy, new energy vehicles, energy storage, and aerospace [3][5]. Sales and Financial Performance - The company's self-produced product sales volumes for the years 2022 to 2025 are projected to be 127,500 tons, 168,700 tons, 187,100 tons, and 106,100 tons, respectively, indicating a growth trend [4]. - The reported operating revenues for the same period are 3.436 billion yuan, 3.202 billion yuan, 3.238 billion yuan, and 1.785 billion yuan [7]. - The net profits for the years are 108 million yuan, 152 million yuan, 155 million yuan, and 85 million yuan [8]. - The sales gross margins are reported at 10.76%, 12.34%, 11.61%, and 12.43% [9]. - Research and development expenses are 94.07 million yuan, 101.75 million yuan, 87.69 million yuan, and 44.00 million yuan, representing 2.74%, 3.18%, 2.71%, and 2.47% of operating revenue, respectively [10]. Future Development Plans - The company aims to solidify its leading position in wind turbine blade materials while making significant progress in new energy vehicles, energy storage, hydrogen energy, aerospace, and power sectors [11][12]. - The diversification strategy includes expanding into photovoltaic, consumer electronics, semiconductors, rail transportation, 3D printing, 5G communication, shipping, and construction materials [12][13]. Industry Position and Market Outlook - The company is recognized as a leading player in the green new materials sector, being one of the largest producers of epoxy resins for wind turbine blades globally [18]. - The market for epoxy resins used in wind turbine blades is projected to grow significantly, with global sales expected to reach 78,612 tons by 2030, reflecting a compound annual growth rate of 6.56% from 2024 to 2030 [15]. - The new composite materials market is anticipated to replace traditional materials in various industries, with the global epoxy resin composite market expected to reach $42.92 billion by 2027, growing at a CAGR of approximately 6.2% from 2020 to 2027 [17]. IPO and Fundraising - The company plans to use the proceeds from its IPO to enhance production capabilities, optimize product structure, and strengthen innovation capabilities [21][23]. - The IPO involves issuing 13.188 million shares, representing 20% of the total share capital post-issue [20]. - The fundraising projects include a high-end adhesive and high-performance composite resin system with an annual production capacity of 56,000 tons, primarily for wind energy and new energy vehicles [22].
道生天合：深耕高性能热固性树脂材料行业 成为新能源新材料细分领域龙头——道生天合材料科技（上海）股份有限公司首次公开发行股票并在主板上市网上投资者交流会精彩回放
Shang Hai Zheng Quan Bao·2025-09-28 17:12