Core Viewpoint - Hunan Chuyuan New Materials Co., Ltd. (Chuyuan New Materials) has updated its IPO review status to "inquired," focusing on the research and industrialization of electronic information new materials, particularly photosensitive dry film [1][2]. Company Overview - Chuyuan New Materials specializes in the research, production, and sales of photosensitive dry film, achieving the highest market share among domestic companies and ranking third globally [1]. - The company was established in November 2017, initially named Hunan Wujing High-Tech Materials Co., Ltd., and later renamed after completing its share reform in September 2023 [7][9]. Ownership Structure - The company is controlled by the Xiao family, with Xiao Zhiyi representing the new generation as the actual controller, although he is the nephew of the original founders [2][3]. - The founding family, the Xiao brothers, established Wujing Group, which has grown into a large conglomerate with total assets exceeding 70 billion yuan, ranking 269th in the 2024 list of China's top 500 private enterprises [1][2]. Management and Leadership - Xiao Zhiyi, born in 1980, holds a master's degree in materials science and has been involved in the family business since 2006, taking on various leadership roles [3][10]. - He became the chairman of Chuyuan New Materials in October 2021, after serving as the general manager and R&D head [10][12]. Financial Transactions and Shareholding - Prior to the IPO application, Chuyuan New Materials had several trademarks and patents transferred from its sister company, Hunan Ruitai New Materials Technology Co., Ltd. [9]. - In 2022, Chuyuan New Materials paid 18.58 million yuan to Ruitai for processing services, which have since ceased [10][11]. - The Xiao family has engaged in multiple share transfers, with significant cash-outs totaling approximately 493 million yuan from their holdings in Chuyuan New Materials [14][15][17]. Future Prospects - The company aims to leverage its technological advancements in electronic information materials to capture a larger market share and enhance its competitive position in the industry [1][2].

Group 1 - Hunan Chuyuan New Materials Co., Ltd. has received approval for its IPO application on the ChiNext board, aiming to become the first listed company in Loudi City, Hunan Province [1][3] - The company, established in 2017, specializes in electronic information new materials and has achieved a 13.2% global market share in the photosensitive dry film sector, ranking third worldwide [2] - Revenue figures for the company show a fluctuating upward trend, with revenues of 910 million yuan, 890 million yuan, and 1.057 billion yuan from 2022 to 2024, alongside net profits of 160 million yuan, 155 million yuan, and 170 million yuan respectively [2] Group 2 - The IPO aims to raise 1.22 billion yuan for the construction of high-end photosensitive dry film projects and a research and operation center [2] - Loudi City has been historically silent in terms of capital market presence, lacking listed companies which hampers regional industrial upgrades and talent attraction [3][4] - The company represents a significant opportunity for Loudi City to break its silence in the capital market, as it is the only company from the city currently pursuing an IPO [4]

Group 1 - The core viewpoint of the news is that Hunan Chuyuan New Materials Co., Ltd. has officially submitted its IPO application to the Shenzhen Stock Exchange, focusing on the research and industrialization of electronic information new materials, particularly photosensitive dry film [1] - The company has achieved a leading market share among domestic enterprises and ranks third globally in the production of photosensitive dry film, which is crucial for PCB manufacturing [1] - The company's revenue and net profit for the years 2022 to 2024 are projected to be 910 million yuan, 890 million yuan, and 1.057 billion yuan, with corresponding net profits of 160 million yuan, 155 million yuan, and 170 million yuan [1] Group 2 - The company plans to raise 1.22 billion yuan through the IPO to invest in high-end photosensitive dry film projects and a research and operation center, as well as to supplement working capital [1] - Future development plans indicate that the PCB industry will continue to evolve towards high precision, high integration, and high frequency, driven by factors such as the new AI innovation cycle and the rapid development of electric and intelligent vehicles [2] - The company aims to maintain its market leadership in photosensitive dry film for PCB applications while actively exploring opportunities in the integrated circuit packaging sector, capitalizing on domestic substitution trends [2]