Core Viewpoint - Yuan Chuang Technology Co., Ltd. has submitted its IPO application to the Shenzhen Stock Exchange, aiming to raise approximately 485.13 million yuan, with a focus on the research, production, and sales of rubber track products [1][2]. Company Overview - The main business of Yuan Chuang includes the development, production, and sales of rubber tracks, primarily for agricultural and engineering machinery [1]. - The company operates in a stable market with clear downstream applications, characterized by a layered competitive landscape [1][2]. Market Position - Yuan Chuang ranks first in domestic market share for rubber tracks, according to recent reports from QYResearch and the China Rubber Industry Association [2]. - The company has a high customer concentration, with the top five customers contributing to over 50% of total revenue in recent years [2]. Production Model - The production model for agricultural tracks is primarily domestic sales with seasonal fluctuations, while engineering tracks are mainly for export with a diverse global customer base [2]. - The company employs a "make-to-order" production strategy for engineering tracks and rubber track plates, ensuring flexibility in inventory management [2]. Financial Performance - The company reported revenues of 1.261 billion yuan in 2022, with projected revenues of 1.141 billion yuan in 2023 and 1.349 billion yuan in 2024 [3][4]. - Net profits for the same periods were 139 million yuan, 178 million yuan, and 155 million yuan, respectively [3][4]. - The company’s total assets reached approximately 2.040 billion yuan by the end of 2024, with a debt-to-asset ratio of 35.68% [4]. Fund Utilization - The net proceeds from the IPO will be allocated to the construction of a production base, a technology center, and to supplement working capital, with a total investment of approximately 796.56 million yuan [3].
元创股份深交所IPO提交注册 主营橡胶履带类产品的研发、生产与销售
智通财经网·2025-11-04 23:09