国产OLED材料企业九目化学IPO获受理

Core Viewpoint - Yantai Jiumu Chemical Co., Ltd. has received approval for its IPO on September 18, 2025, indicating a significant step towards public listing and capital raising for its business expansion in OLED materials [2][3]. Company Overview - Established in 2005, Jiumu Chemical is a subsidiary of China Energy Conservation Investment Corporation, primarily engaged in the R&D, production, and sales of OLED front-end materials, including sublimation materials and intermediates [2]. - Major clients include Samsung SDI, Merck Group, and DuPont, with sales to Samsung SDI showing a growth trend due to its investments in high-generation OLED panel production lines [4][5]. Financial Performance - The company's revenue from 2022 to 2025 is projected to grow from 706 million yuan to 962 million yuan, with net profits after non-recurring items expected to increase from 197 million yuan to 246 million yuan [4]. - The revenue breakdown for the first quarter of 2025 shows that OLED sublimation materials accounted for 68.81% of total revenue, while intermediates contributed 26.66% [5]. IPO Details - Jiumu Chemical plans to raise 1.15 billion yuan through its IPO, with funds allocated to the "OLED Display Materials and Other Functional Materials Project (Phase II)" and a "R&D Center Project" [6][7]. - The Phase II project aims to enhance production capacity by adding 280 tons of OLED front-end materials, while the R&D center will focus on improving research capabilities and technological advancements [7]. Investment Allocation - The total investment for the OLED materials project is set at 1.5 billion yuan, with 1 billion yuan sourced from the IPO proceeds, while the R&D center project has a total investment of 200 million yuan, with 150 million yuan planned to be funded through the IPO [7][8].