振石股份IPO：纤维增强材料先锋者，开启全球产业新征程

Core Viewpoint - Since 2025, China has implemented a series of new energy policies that create a favorable environment for the fiber-reinforced materials industry, leading to increased market demand and a bright industry outlook for companies like Zhejiang Zhenshi New Materials Co., Ltd. [2] Company Overview - Zhenshi Co. is a national high-tech enterprise focused on the research, production, and sales of fiber-reinforced materials in the clean energy sector, providing high-quality and innovative solutions across various industries including wind power, photovoltaic power, new energy vehicles, and construction materials [3] Market Position - In the wind power sector, Zhenshi Co. has become a global leader in wind turbine blade materials, holding over 35% of the global market share in 2024, and establishing strong partnerships with major domestic and international wind turbine manufacturers [4] - The company’s photovoltaic frames made from fiber-reinforced materials have shown significant advantages, including low cost, lightweight, and high tensile strength, with increasing market penetration [5] Innovation and Technology - Zhenshi Co. prioritizes technological innovation and actively participates in the formulation of industry standards, holding numerous patents that demonstrate its strong R&D capabilities [6][7] Financial Performance - The company has shown robust financial health with revenues of approximately 5.27 billion yuan, 5.12 billion yuan, 4.44 billion yuan, and 3.28 billion yuan over recent periods, alongside net profits of about 774 million yuan, 790 million yuan, 606 million yuan, and 404 million yuan [8] Future Outlook - Zhenshi Co. aims to raise at least 3.98 billion yuan through an IPO to invest in its main business, including the construction of production bases and R&D centers, while expanding its market share in the clean energy sector [8][9] - The company plans to enhance its production capacity and explore new opportunities in the clean energy materials market, focusing on becoming a benchmark enterprise in global composite materials intelligent manufacturing [10]