Core Viewpoint - Zhejiang Zhenstone New Materials Co., Ltd. (Zhenstone) has submitted its IPO application to the Shanghai Stock Exchange, aiming to raise 3.981 billion yuan for its clean energy-focused operations [1] Company Overview - Zhenstone is a national high-tech enterprise specializing in the research, production, and sales of fiber-reinforced materials for the clean energy sector, covering industries such as wind power, photovoltaic power, new energy vehicles, construction materials, transportation, electronics, and chemical environmental protection [1] - The company has become a global leader in manufacturing materials for wind turbine blades, holding over 35% of the global market share in wind power fiberglass fabric as of 2024 [1] Financial Highlights - Projected revenues for Zhenstone are approximately 5.267 billion yuan, 5.124 billion yuan, 4.439 billion yuan, and 3.275 billion yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [3] - Net profits for the same periods are estimated at around 0.781 billion yuan, 0.793 billion yuan, 0.607 billion yuan, and 0.404 billion yuan [3] Investment Projects - The funds raised from the IPO will be allocated to several projects, including: - Construction of a fiberglass product production base: 1.69977 billion yuan - Construction of a composite materials production base: 1.64825 billion yuan - Production project in Spain: 358.5 million yuan - R&D center and information technology construction: 274.55 million yuan - The total investment for these projects amounts to 3.98107 billion yuan [3] Market Position - Zhenstone has established direct or indirect relationships with the top ten wind turbine manufacturers globally and is one of the first suppliers of fiberglass products to major wind turbine and blade manufacturers in China [2]