【财经】知名涂企君子兰“撤回辅导备案”，放弃IPO上市计划？

Core Viewpoint - Shanghai Junzilan New Materials Co., Ltd. has recently reversed its IPO counseling status, changing it to "withdrawal of counseling record," which may lead to three potential outcomes regarding its IPO plans [1] Group 1: Company Background - Junzilan is a leading domestic furniture paint enterprise, primarily engaged in the research, production, and sales of wood coatings, with applications in various sectors such as doors, cabinets, and bathrooms [7] - The company was founded in 1994 and relocated its headquarters to Shanghai, with factories located in Guangdong, Sichuan, Shanghai, and Tianjin, as well as its first overseas factory in Vietnam [7] - According to the "2025 China Coating Enterprises Top 100 Ranking," Junzilan ranked 25th with a sales revenue of 780 million yuan [7] Group 2: IPO Counseling Status - Junzilan initiated its IPO counseling record on November 2, 2020, with Shenwan Hongyuan Securities as its counseling institution [2][4] - After over five years and 17 counseling sessions, the company has chosen to withdraw its counseling record, with the latest report being disclosed on July 12, 2025 [4] Group 3: Performance and Market Conditions - The company's operating performance has shown significant fluctuations since 2022, influenced by industry competition, volatility in the downstream furniture sector, and raw material price changes [4][5] - The real estate market's decline since 2021 has adversely affected the furniture industry, impacting Junzilan's performance due to its reliance on the furniture market [5] - Junzilan's business structure is predominantly focused on furniture paint, making it vulnerable to market fluctuations without other business lines to mitigate risks [5] Group 4: Strategic Adjustments - In response to performance challenges, Junzilan is actively seeking transformation by exploring new product areas, including industrial paint applications, and considering mergers and acquisitions to expand its scale [5] - The company plans to adjust its IPO application strategy and may change its intended listing board due to evolving market conditions and regulatory frameworks [6] - Junzilan's original plan was to list on the Shenzhen Stock Exchange's Growth Enterprise Market, but it may now consider the Beijing Stock Exchange or a potential listing on the New Third Board first [7]