比亚迪、金发科技供应商，高分子龙头，IPO获批！

Core Viewpoint - Changyu Group has successfully passed the IPO application for listing on the Shanghai Stock Exchange, marking a significant milestone for the company established in 2019, which has achieved profitability in the new materials sector within just six years [2]. Fundraising and Project Plans - The company plans to raise 700 million yuan, primarily for projects including 45,000 tons of ultra-pure oxygen chloride zirconium and deep processing, 10,000 tons of high-performance nylon elastomer products, and 1,000 tons of bioceramics and functional ceramics [2][3]. - The high-performance nylon elastomer project has a total investment of 248 million yuan, with 240 million yuan sourced from the fundraising [3]. Product and Market Position - Changyu Group's main products include oxygen chloride zirconium, zirconium carbonate, zirconium oxide, nano-composite zirconium oxide, special nylon, and long-chain diacids [8]. - The company has established a production capacity of 15,000 tons per year for special nylon products, which include long-chain nylon and nylon elastomers, and has received recognition for its technological advancements [10]. - The company holds a 30% market share in the domestic oxygen chloride zirconium market, ranking first in both China and globally [12]. Financial Performance - From 2022 to the first half of 2025, the company's revenue figures were 1.669 billion yuan, 1.608 billion yuan, 1.638 billion yuan, and 896 million yuan, respectively [17]. - The net profit attributable to the parent company for the same period was 263 million yuan, 195 million yuan, 212 million yuan, and 112 million yuan, respectively [17]. - The gross profit margin for zirconium products, a major source of revenue, was 82.73% in 2022, decreasing to 64.93% by 2025 [16]. Industry Context - The nylon elastomer products are characterized by high elasticity, low temperature impact resistance, and excellent anti-static properties, with key products including TPA1012 and TPA610 [5]. - The company has established partnerships with various industry leaders, enhancing its market position and collaborative potential [15].