Core Viewpoint - Daosheng Tianhe (601026.SH) has initiated its subscription on September 29, with an issue price of 5.98 yuan per share and a price-to-earnings ratio of 29.05 times, focusing on the development, production, and sales of new materials, particularly in the renewable energy sector [1] Company Overview - Daosheng Tianhe is a national high-tech enterprise specializing in the research and development of new materials, with products centered around epoxy resins, polyurethanes, acrylics, and organic silicon [1] - The company offers comprehensive solutions in three main product series: materials for wind turbine blades, new composite materials, and adhesives for electric vehicles and industrial applications [1][2] Market Position - The company has achieved a leading position in the global market for wind turbine blade epoxy resin, with projected sales of 143,100 tons in 2024, and ranks second domestically and third globally in wind turbine structural adhesives [1] Product Applications - New composite materials are applicable in various fields, including rail transportation and construction, serving clients such as Chongqing Wind Crossing and Taishan Glass Fiber [2] - Adhesives for electric vehicles are utilized in critical components like motors and batteries, with major clients including BYD Group and Geely Group [2] Fundraising and Financials - The fundraising will be allocated to projects including the production of high-end adhesives and composite resin systems, with a total investment of approximately 57.07 million yuan [3] - Financial performance shows projected revenues of approximately 3.436 billion yuan, 3.202 billion yuan, and 3.238 billion yuan for 2022, 2023, and 2024 respectively, with net profits of about 108 million yuan, 152 million yuan, and 155 million yuan [3] Financial Metrics - Total assets are projected to reach approximately 3.878 billion yuan by the end of 2024, with a debt-to-asset ratio of 44.63% [4] - The company expects a net profit of approximately 155.47 million yuan for 2024, with a basic earnings per share of 0.29 yuan [4]
A股申购 | 道生天合(601026.SH)开启申购 旗下一产品销量连续3年位居全球首位