高速高频覆铜板

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又一高分子材料国家级“小巨人”,IPO获批!
Sou Hu Cai Jing· 2025-05-07 16:59
Core Viewpoint - Despite the increasing number of delisted companies and fewer IPOs, the encouragement for the development of key new materials remains strong, with the IPO door still open for capable enterprises [1] Group 1: IPO and Fundraising - The China Securities Regulatory Commission approved the IPO registration of Tongyu New Materials on April 25, with a fundraising target of 1.3 billion yuan, of which 1.2 billion yuan is allocated for a project to produce 200,000 tons of electronic resin annually [1] - The IPO process took 34 months from the initial application acceptance in June 2022 to the recent registration [1] - Following the approval by the Shenzhen Stock Exchange's listing committee in April 2023, the company faced a two-year stagnation during which its performance declined [2] Group 2: Financial Performance and Market Position - The average price of the company's products dropped between 26% to 40% in 2023, with a projected decline of 5% to 20% in 2024, leading to a continuous decrease in profits [2] - Tongyu New Materials, established in 2015, is recognized as a national-level "little giant" enterprise focusing on the electronic resin industry, with products including various modified epoxy resins [2] - The company has been focusing on developing lead-free and halogen-free electronic resins, which are essential for meeting the environmental requirements in the PCB industry [3] Group 3: Product Development Trends - The demand for high-end electronic resins is driven by the PCB industry's shift towards halogen-free materials, necessitating new flame retardants and improved performance characteristics [3] - Traditional products like MDI modified epoxy resins are seeing a decline in both scale and market share, while BPA-type phenolic epoxy resins and phosphorus-containing phenolic resin curing agents are experiencing rapid growth [5] - The company's revenue from MDI modified epoxy resins accounted for 34.5% in 2023, down from 42.06% in 2022, indicating a shift in product focus [6] Group 4: Company Background and Clientele - The company's controlling shareholder, Zhang Chi, has a PhD in polymer science from Sichuan University and received significant funding from alumni to establish the company [7] - Major clients include Nanya New Materials, Jian Tao Group, and Shengyi Technology, with the top five clients contributing to 68% of the company's revenue [7]
又一高分子材料国家级“小巨人”,IPO获批!
DT新材料· 2025-05-07 16:03
虽然最近退市的企业越来越多,上市的企业比较少,但鼓励发展关键新材料的调调不会变,IPO的大 门对于有真本事的企业依然热烈欢迎,投资继续加油。 【DT新材料】 获悉,4月25日,证监会同意了 同宇新材 创业板IPO注册。从2022年6月IPO申请被深 交所受理到近期提交注册, 历时整整34个月 。 据悉,同宇新材2015成立, 是国家级专精特新"小巨人"企业 ,一直专注于电子树脂行业,主要产品 主要包括 MDI改性环氧树脂、DOPO改性环氧树脂、高溴环氧树脂、BPA型酚醛环氧树脂、含磷酚 醛树脂固化剂 等系列。值得注意的是,该公司一直非常专注于开发 无铅无卤、高频高速覆铜板用电 子树脂 。这种高端树脂长期由 日本大金、杜邦、旭化成、SABIC、三菱瓦斯 、 晋一化工、长春化 工 主导。 开发这种高端树脂的原因其实不难理解 。随着环保意识逐渐加强,电子产品的环保性对 PCB 行业使 用无卤素环保材料提出了硬性要求,也就意味着 电子树脂配方需启用新的阻燃剂以替代含卤阻燃剂 ,因此PCB 行业的 "无铅无卤化"、线路高密度、薄型化、高速高频等 成为必然的发展趋势,但这对 对制作覆铜板基体树脂的耐热、尺寸稳定等性能有了 ...