国恩科技今起招股，引入利冠、沈臻宇、富国基金等为基石，预计2月4日挂牌上市

Core Viewpoint - Guoen Technology (02768.HK) plans to globally offer 30 million H-shares, with 3 million shares available in Hong Kong and 27 million shares for international distribution, aiming for a price range of HKD 34.00 to 42.00 per share, with trading expected to commence on February 4, 2026 [2][3] Company Overview - Guoen Technology specializes in chemical new materials and gelatin, collagen, and related products, serving both the chemical and health industries [3] - The company operates in two main sectors: the large chemical sector, providing solutions to manufacturers in automotive, new energy, and home appliances, and the health sector, supplying raw materials for supplements and pharmaceuticals [3][4] Market Position - In the large chemical industry, Guoen is the second-largest company in China for organic polymer modified materials and organic polymer composite materials, holding a market share of 2.5% as of 2024 [4] - Guoen is also the largest producer of polystyrene in China by production capacity as of 2024 [4] Financial Performance - The company has shown strong revenue growth, with revenues of RMB 13.406 billion, RMB 17.439 billion, and RMB 19.188 billion for the fiscal years 2022, 2023, and 2024 respectively, reflecting a compound annual growth rate (CAGR) of 19.6% from 2022 to 2024 [7] - The sales figures for the fiscal years 2023 and 2024 indicate year-on-year growth rates of 30.1% and 10.0%, respectively [7] Market Trends - The market for organic polymer modified materials and organic polymer composite materials is projected to grow from RMB 303.8 billion in 2020 to RMB 544.8 billion by 2024, with a CAGR of 15.7% [8] - The market is expected to continue strong growth, reaching RMB 1,037.5 billion by 2029, with a forecasted CAGR of 14.1% from 2025 to 2029 [8] Use of Proceeds - The net proceeds from the share offering are estimated at approximately HKD 1.057 billion, with plans to allocate 50% for establishing a new production base in Thailand, 35% for expanding capacity in Yixing, and 10% for investments in Hong Kong [9]