慧谷新材IPO信披迷局，主要供应商“查无此人”疑似空壳公司

Core Viewpoint - The article discusses the upcoming IPO of Guangzhou Huigu New Materials Technology Co., Ltd., highlighting its focus on polymer materials and the challenges it faces, including declining product prices and a safety incident [1][3]. Company Overview - Guangzhou Huigu New Materials specializes in the research, production, and sales of functional resins and coating materials, primarily serving sectors such as home appliances, packaging, new energy, and electronics [3]. - The company aims to raise 900 million yuan through its IPO to fund various projects, including the expansion of its environmentally friendly paint and resin production capacity [1]. Financial Performance - The company's revenue is projected to grow from 664 million yuan in 2022 to 817 million yuan in 2024, while its net profit is expected to increase significantly from 26.83 million yuan to 142 million yuan during the same period [3]. Supplier Concerns - A notable supplier, Guangzhou Huihong Trading Development Co., Ltd., has raised red flags due to its low registered capital of 500,000 yuan and a limited number of employees, despite supplying nearly 70 million yuan worth of materials to Huigu New Materials [4][6]. - Regulatory scrutiny has been prompted by the unusual circumstances surrounding this supplier, including its history of administrative penalties for issuing false invoices [10]. Compliance and Transparency Issues - Huigu New Materials has faced questions regarding the legitimacy of its supplier's operations, particularly after a researcher found discrepancies in the supplier's registered address and its actual presence [8][10]. - The company's claims about the supplier's annual sales of 280 million yuan have been met with skepticism, raising concerns about the transparency and compliance of Huigu New Materials' disclosures [10].