招股书显示，森合高科主要从事环保型贵金属选矿剂的研发、生产及销售。申报稿显示，森合高科核心产品通常应用于金、银等贵金属生产的浸出 选矿环节，是贵金属生产所需的关键化学药剂之一。同时，在其他有色金属矿浮选过程中也可作为抑制剂使用，提高有色金属矿选矿效率。 近年来，环保政策驱动选矿剂行业绿色转型。国家层面持续强化环保政策，发改委、自然资源部及生态环境部等多部门持续发文，明确鼓励采用无 氰或低氰浸金药剂提金，并对氰化工艺进行限制。此外，美国、德国、捷克等多国已禁用或限制传统剧毒氰化钠，倒逼贵金属生产企业转向环保型 贵金属选矿剂，形成全球性的市场替代需求。 同时，黄金需求增长推动选矿药剂市场扩容。全球地缘政治不确定性加剧和经济波动背景下，黄金的避险属性使其需求持续攀升。各国央行增持黄 金储备、珠宝及工业应用需求稳健，推动金矿开采活动活跃。随着高品位矿石资源逐渐减少，低品位、复杂矿石处理需求增加，选矿药剂作为提升 回收率的关键材料，市场需求有望显著增长。同时，高金价促使矿山企业优化选矿工艺以提高回收率，加速高效药剂的替代进程。 此外，据中国黄金协会统计，"一带一路"沿线国家黄金储量资源优势明显。随着"一带一路"倡议推进 ...

在当今全球矿业绿色转型的背景下，广西森合高新科技股份有限公司(以下简称"森合高科")这家深耕贵金属选矿剂领域十余年的国家级专精特新"小巨人"企 业，凭借技术创新突破，在提高黄金生产企业经济效益的同时，大大缓解了黄金工业发展对人类生存环境带来的危害，真正实现了"绿色矿山环保提金"。 绿水青山，就是金山银山。 创新驱动，做黄金行业的"氰"洁工 近期，森合高科披露招股说明书，拟于北交所上市。 招股书显示，森合高科专注于环保型黄金选矿技术产品的研发、生产和销售，其核心产品金蝉环保型黄金选矿剂，在不改变原有氰化提金工艺及设备的情况 下，可替代氰化钠用于黄金生产。 氰化法提取黄金是20世纪80年代发展起来应用最为广泛的提金方法，目前，氰化钠在黄金工业中已有上百年历史，并且80%以上黄金矿山企业在使用氰化钠 进行生产。氰化钠是剧毒化学物品，是联合国化学武器控制机构严格监控的一种化学品，在国内也被列为国家严格监控和管理的化学危险品。我国在对氰化 钠的运输过程、监管存储、生产作业、公安审批等方面有着严格细致的规定。 基于此，环保提金是大势所趋。 "金蝉"环保型黄金选矿剂是森合高科自主研发的用于黄金选矿的绿色高新科技产品，是环保 ...

IPO Review and Registration Progress - Three IPO applications were accepted last week, including Senhe High-Tech aiming for the Beijing Stock Exchange to raise 490 million yuan, Yisiwei targeting the Sci-Tech Innovation Board with a planned raise of 1.214 billion yuan, and Zhixin Co. applying for an IPO on the Shanghai Main Board with a target of 1.329 billion yuan [2][3] - Senhe High-Tech specializes in the R&D, production, and sales of environmentally friendly precious metal mining agents, with sales revenue from these agents accounting for over 95% of its main business income during the reporting period [2] - Yisiwei focuses on automotive manufacturing machine vision equipment, holding the largest market shares in China’s automotive manufacturing and complete vehicle manufacturing machine vision markets at 13.7% and 22.5% respectively [3] - Zhixin Co. develops and produces automotive welding parts and related molds, with over 70% of its revenue coming from its top five customers [3] Recent IPO Approvals and Upcoming Listings - Huaxin Precision passed its IPO review on June 6, focusing on precision stamping products, with a projected revenue of 1.421 billion yuan in 2024, a 19.49% increase year-on-year [4] - Three companies are set to undergo IPO reviews this week, including Sanxie Electric, which reported steady revenue growth from 287 million yuan in 2022 to 420 million yuan in 2024 [4][5] - United Power, a subsidiary of Huichuan Technology, achieved a revenue of 16.178 billion yuan in 2024, a 72.74% increase, with over 85% of its revenue derived from electric drive systems [5] - Daoshengtianhe, a wind power industry chain company, reported a revenue of 3.238 billion yuan in 2024, a slight increase of 1.13% [6] New Stock Listings and Subscription Dynamics - Two new stocks were listed last week, Zhongce Rubber and Youyou Green Energy, with the latter seeing a significant first-day increase of 68.64% [9][10] - This week, Jiao Da Tie Fa is scheduled to be listed on June 10, with a projected revenue of 335 million yuan in 2024 [10] - Two new stocks are set for subscription this week, including Huazhi Jie and New Henghui, with planned fundraising of approximately 486 million yuan and 519 million yuan respectively [11] Policy and Regulatory Developments - The China Securities Regulatory Commission (CSRC) announced plans to support high-quality unprofitable technology companies in going public, emphasizing the importance of information disclosure and market intermediary verification [12] - The China Listed Companies Association released guidelines for audit committees to enhance compliance and governance among listed companies [13]

Core Viewpoint - Guangxi Senhe High-tech Co., Ltd. (Senhe High-tech) has received approval for its IPO on the Beijing Stock Exchange, with Guotou Securities as the sponsor and Zhonghui Accounting Firm as the auditor [3] Company Overview - Senhe High-tech was established in April 2011 with a registered capital of 85.392 million yuan, focusing on the research, production, and sales of environmentally friendly precious metal flotation agents and by-products such as ammonium sulfate [3] - The legal representative of the company is Que Shandong [3] Financial Performance - Revenue and net profit figures for Senhe High-tech from 2022 to 2024 are as follows: - 2022: Revenue of 302 million yuan, Net profit of 47.06 million yuan, Gross margin of 30.45% - 2023: Revenue of 346 million yuan, Net profit of 56.07 million yuan, Gross margin of 31.15% - 2024: Revenue of 623 million yuan, Net profit of 150 million yuan, Gross margin of 36.8% - The company is projected to experience significant growth in 2024, with revenue and net profit increasing by 80.07% and 167.15%, respectively [3][4] Shareholding Structure - Before the IPO, Que Shandong and Liu Xin each directly held 28.083% of the company's shares, making them the actual controllers of the company [4] - A joint action agreement has been signed between Que Shandong and Liu Xin, requiring them to fully consult and communicate before making major decisions [4] - As of September 4, 2024, Liu Yihua, a relative of Que Shandong, holds 120,000 shares, bringing the total shares controlled by Que Shandong, Liu Xin, and their joint action relationship to 48.0812 million shares, which is 56.3064% of the total share capital [5] Management Background - Que Shandong, born in June 1961, has extensive experience in the mining and trade sectors, having held various managerial positions since 1994 [7] - Liu Xin, born in October 1968, has a background in metal materials and has served in several managerial roles, including as general manager at Senhe High-tech since April 2015 [8]

近日，据中国证券监督管理委员会网上办事服务平台信息，广西森合高新科技股份有限公司向不特定合格投资者公开发行 股票并在北京证券交易所上市辅导工作完成，辅导机构为国投证券股份有限公司。 森合高科2011年成立，专业从事环保型贵金属选矿剂的研发、生产及销售。可比公司包括东来技术（688129.SH）、呈和科 技（688625.SH）、康普化学（834033.NQ）。 各期，公司的综合毛利率分别为30.45%、31.15%和36.80%。 如公司本次发行获得审核通过且发行成功，所募集的资金在扣除发行费用后，拟用于"年产8万吨环保型贵金属提取剂建设 项目（一期）"，募集资金拟投资额4.90亿元。 | 序号 | 项目名称 | 实施主体 | 投资总额 | 募集资金拟投 资额 | | --- | --- | --- | --- | --- | | | 年产8万吨环保型贵金属 提取剂建设项目(一期) | 广西森合高新科技 股份有限公司 | 55, 459. 84 | 49, 000. 00 | | | 合计 | | 55, 459. 84 | 49, 000. 00 | 值得注意的是，森合高科曾在2020年申报创业板IPO并获 ...

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