【北交所IPO】族兴新材IPO过会：深耕战略性新材料赛道，铸就全球竞争力

Core Viewpoint - Zuxing New Materials Co., Ltd. is set to enter the capital market following the successful review of its IPO application, leveraging its core technology in fine spherical aluminum powder and aluminum pigment products in the non-ferrous metal functional powder materials sector [1][3]. Group 1: Company Overview - Established in 2002, Zuxing New Materials is one of the earliest companies in China to engage in the research and production of fine spherical aluminum powder, with a focus on R&D, production, and sales of aluminum pigments [3]. - The company has an annual production capacity of 25,000 tons for fine spherical aluminum powder and 6,400 tons for aluminum pigments, ranking among the top domestic enterprises [3]. - Zuxing's subsidiary, Qujing Huayixing, achieved a domestic market share of 22.63% and a global market share of 15.03% in 2024, solidifying its position in the industry [3]. Group 2: Technological Advantages - Zuxing New Materials holds 89 authorized patents, including 48 invention patents, and has established itself as a key player in setting industry standards for aluminum pigments [4]. - The company has successfully broken the monopoly of large multinational corporations in high-end products, achieving large-scale production of advanced aluminum pigments [4]. - Its water-based aluminum pigment products for automotive coatings have reached international advanced levels and have been certified under the IATF 16949:2016 automotive quality management system [4]. Group 3: Market Strategy - The company employs a vertically integrated supply chain strategy, ensuring stable raw material supply and high-quality production processes [5]. - Zuxing focuses on the mid-to-high-end market, avoiding low-end market competition, and its aluminum silver powder ranks second in the domestic powder coating industry [5]. - The company has established a global customer network, supplying major multinational paint companies and domestic enterprises [5]. Group 4: Growth Initiatives - The IPO aims to raise 208 million yuan for three strategic projects, including the construction of a high-purity fine spherical aluminum powder production line and a high-performance aluminum pigment project [6]. - The market for fine spherical aluminum powder is expected to grow steadily, with production in China projected to reach 103,000 tons in 2024 [6]. - The company is positioned to benefit from the expanding global nuclear power market through its specialized products for nuclear waste treatment [6]. Group 5: Sustainability Efforts - Zuxing New Materials is committed to green manufacturing, aligning with the industry's low-carbon transformation trends [7]. - Its aluminum silver powder for powder coatings is environmentally friendly and efficient, supporting the production of chemical pesticides and self-heating food packaging [7]. - The successful IPO marks a new development phase for Zuxing, aiming to enhance its global leadership in fine spherical aluminum powder and aluminum pigments while supporting strategic industries like automotive lightweighting and renewable energy [7].