PVC地板制造企业中鑫家居冲刺港股IPO

Core Viewpoint - Jiangsu Zhongxin Home Furnishing New Materials Co., Ltd. has officially submitted its listing application to the Hong Kong Stock Exchange, positioning itself as a leading manufacturer of PVC flooring, particularly in the SPC (Stone Plastic Composite) flooring sector [1]. Group 1: Company Overview - Zhongxin Home is a PVC flooring exporter with nearly 20 years of industry experience, focusing on high-quality products, continuous innovation, smart manufacturing, and international business expansion [1]. - According to Frost & Sullivan, Zhongxin ranks eighth among Chinese PVC flooring exporters with a market share of 0.61%, while it holds the top position in the SPC flooring subcategory with a market share of 1.02% [1]. Group 2: Financial Performance - The company's revenue and profit experienced a decline from 2023 to 2024, primarily due to increased tariffs in the U.S. market, which is its largest export destination, leading to reduced orders and performance pressure [1]. - In 2023, the total revenue was 1,420.0 million, with a net profit of 125.2 million. By 2024, revenue decreased to 972.5 million, and net profit fell to 52.7 million. For the nine months ending September 30, 2024, revenue was 673.0 million, with a net profit of 13.0 million. However, by the nine months ending September 30, 2025, revenue rebounded to 959.7 million, and net profit significantly improved to 74.1 million [1]. Group 3: Market Recovery - The recovery in performance is attributed to the release of production capacity at the Vietnam manufacturing base, which successfully captured and delivered increasing orders from the North American market, effectively mitigating the impact of trade frictions [2].