Core Viewpoint - The company, Zhejiang Jinhua New Materials Co., Ltd., is preparing for an IPO on the Beijing Stock Exchange, aiming to raise funds for several high-value projects in the fine chemical sector, particularly in silane crosslinking agents and ketoxime products [1][3]. Group 1: Company Overview - Jinhua New Materials specializes in the research, production, and sales of ketoxime series fine chemicals, with key products including silane crosslinking agents, hydroxylamine salts, methoxyamine hydrochloride, and acetaldehyde oxime [3]. - The company is a leading player in the domestic market for silane crosslinking agents and hydroxylamine salts, with market shares projected to grow from 28.30% in 2021 to 37.34% in 2024 [3]. Group 2: Financial Performance - The company experienced significant revenue and profit fluctuations in recent years, with revenues of 1153.26 million yuan in 2021, dropping to 993.97 million yuan in 2022, and then recovering to 1239.48 million yuan in 2024 [5]. - Net profits after deducting non-recurring gains and losses were 244.65 million yuan in 2021, falling to 78.42 million yuan in 2022, and rising to 205.83 million yuan in 2024 [5]. - The gross profit margin showed volatility, with rates of 34.12% in 2021, 17.72% in 2022, and recovering to 27.94% in 2024 [5]. Group 3: Market Demand and Growth Drivers - The increase in net profit for 2023 is attributed to higher production capacity of silane crosslinking agents and growing market demand from downstream products like organic silicone sealants and adhesives in sectors such as photovoltaic, wind power, and new energy vehicles [5]. - A decrease in raw material and energy prices, along with improvements in production processes, contributed to a significant reduction in unit costs and an increase in gross profit margins [5]. Group 4: Corporate Structure and Relationships - The controlling shareholder of Jinhua New Materials is Juhua Group Co., Ltd., which holds 82.49% of the shares, while the actual controller is the Zhejiang Provincial State-owned Assets Supervision and Administration Commission [6]. - The company has a close business relationship with Juhua Group, with significant amounts of related party transactions for energy, raw materials, and processing services, accounting for 35.43% to 37.52% of total procurement in recent years [8].