元创股份成功登陆深交所 12月18日，伴随着一声清脆悠长的钟鸣，国内橡胶履带行业代表型专营企业——元创股份宣告正式在深 交所主板上市。至此，也意味着这家深耕赛道三十余年的橡胶履带领军企业圆梦资本市场。 元创股份发行价24.75元/股。上市首日，元创股份股价便展现出强劲的市场活力，以79.00元/股价格开 盘，涨幅219.19%。这一亮眼成绩无疑为市场注入了一剂强心针，也彰显了投资者对元创股份未来发展 的高度认可与期待。 三十年的"窄门"：从胶带厂到行业定义者 提高自身的品牌知名度和市场占有率 "此次发行上市，是公司发展历程中的重要里程碑，也是公司全新的发展契机。" 历经二十余年技术攻坚与市场拓展，公司逐步实现产品从农用履带向工程履带、履带板的延伸，2018年 完成股份制改造。2025年深市主板IPO过会，成为国内橡胶履带行业首家上市企业。 它的护城河，是用时间和技术一寸寸垒起来的。 公司现有产能超70万条/年，已是国内最大的橡胶履带生产基地之一。产品矩阵涵盖农用履带、工程履 带、履带板三大类逾千种型号，适配联合收割机、挖掘机、装载机等80余种机械。 公司构建起覆盖国内头部主机厂、国外贸易商的客户网络，与沃得农 ...

来源：全景网 元创股份的前身可追溯至1991年成立的三门胶带厂，从初期生产普通胶带起步，1998年转至橡胶履带行业，2006年改 制为浙江元创橡胶履带有限公司。 这是一道"窄门"。一边是农业机械化浪潮初起，一边是基建狂潮下工程机械需求爆发，橡胶履带作为关键行走部件， 市场在膨胀，但技术掌握在少数国外厂商手中，元创选了这条路。 历经二十余年技术攻坚与市场拓展，公司逐步实现产品从农用履带向工程履带、履带板的延伸，2018年完成股份制改 造。2025年深市主板IPO过会，成为国内橡胶履带行业首家上市企业。 它的护城河，是用时间和技术一寸寸垒起来的。 公司现有产能超70万条/年，已是国内最大的橡胶履带生产基地之一。产品矩阵涵盖农用履带、工程履带、履带板三大 类逾千种型号，适配联合收割机、挖掘机、装载机等80余种机械。 2025年12月，作为国内橡胶履带行业代表型专营企业，深耕赛道三十余年的元创股份，叩开了深交所的大门，成为国 内橡胶履带行业首家上市企业。一个鲜为人知的细分冠军，走到了资本市场的聚光灯下。 资料来源：Wind 01 三十年的"窄门"：从胶带厂到行业定义者 农用橡胶履带产品展示资料来源：招股书 公司构建起 ...

12月10日，元创股份发布首次公开发行股票并在主板上市网上申购情况及中签率公告。 元创股份的发行价格为24.75元/股，结果显示，本次网上定价发行的中签率为0.0108715425%，网上投资者有效申购倍 数为9198.32676倍。根据此前公告，元创股份本次发行采用直接定价方式，全部股份通过网上发行，不进行网下询价 和配售。 这两串长长的数字揭示了新股申购"千军万马过独木桥"的激烈现实：万分之1.08的中签率，也就是平均约9198个申购 配号中只有1个能中签；网上投资者申购总量是网上发行量的近9200倍，主要受发行规模小（网上发行数量为1960万 股）和纯网上发行等因素影响。 那么，被一众投资者关注的元创股份，到底质地如何？ 今年上半年营收超6亿元 前五大客户贡献过半营收 招股说明书显示，元创股份专注深耕橡胶履带行业多年，与沃得农机、潍柴雷沃、三一重工、徐工机械、中联重机、 洋马集团等行业内知名大型农业/工程机械主机制造商和国内外优质贸易商建立了长期、良好、稳定的业务合作关系。 何为橡胶履带？顾名思义，它是一种由橡胶、金属复合而成的环形橡胶带，相比于传统的金属履带，橡胶履带具有接 地压力小、牵引力大、振动小 ...

Group 1 - The core point of the article is that Yuanchuang Technology Co., Ltd. successfully passed the listing review by the Shenzhen Stock Exchange on September 19, 2025 [1] Group 2 - Yuanchuang Technology, originally established as Sanmen Tape Factory, initially focused on tape production and gradually expanded into the research and development of new products, including agricultural and engineering rubber tracks [3] - The company specializes in the rubber track sector, gaining recognition from several well-known manufacturers and quality traders both domestically and internationally due to its advanced technology, stable product quality, and excellent service [3] - From 2022 to 2024, Yuanchuang Technology's revenue showed an overall growth trend, with revenues of 1.261 billion, 1.141 billion, and 1.349 billion yuan, and net profits of 137 million, 176 million, and 150 million yuan respectively [3] - The company plans to raise 485 million yuan through its IPO, which will be allocated to production base construction, technology center development, and working capital supplementation [3] - The production base construction project will focus on relocating and expanding the existing capacity for rubber tracks and track plates [3]

Core Viewpoint - Yuan Chuang Technology Co., Ltd. has successfully passed the IPO review by the Shenzhen Stock Exchange, marking a significant step in its growth within the rubber track industry [1][2]. Company Overview - Yuan Chuang Technology, formerly known as Sanmen Rubber Tape Factory, initially focused on tape production and has since expanded into the research and production of agricultural and engineering rubber tracks and track plates [2]. - The company specializes in the rubber track sector, recognized for its advanced technology, stable product quality, and excellent service, leading to strong partnerships with well-known manufacturers and quality traders both domestically and internationally [2][3]. Market Position - Yuan Chuang holds the top position in the domestic market for rubber tracks, as confirmed by recent research reports and industry associations [3]. - The company has established solid business relationships with major manufacturers such as Wode Agricultural Machinery, Weichai Lovol, and SANY Heavy Industry, with sales extending across Asia, Europe, North America, Oceania, South America, and Africa [3]. Financial Performance - The company's revenue has shown an upward trend, with figures of 1.261 billion yuan in 2022, 1.141 billion yuan in 2023, and a projected 1.349 billion yuan in 2024 [3]. - The net profit, adjusted for non-recurring gains and losses, was 137 million yuan in 2022, 176 million yuan in 2023, and is expected to be 150 million yuan in 2024, indicating strong operational stability and profitability [3]. IPO Details - The IPO aims to raise 485.13 million yuan, which will be allocated to projects including the construction of production bases, a technology center, and to supplement working capital [4]. - The production base project focuses on relocating and expanding existing rubber track and track plate production capacity, which is expected to enhance business scale and economic benefits [4]. - The technology center project is designed to improve the company's R&D and innovation capabilities, providing robust technical support for business development [4].

Core Viewpoint - Yuan Chuang Technology Co., Ltd. (referred to as "Yuan Chuang") is facing a contradiction of increasing revenue but decreasing net profit, raising concerns about its future sustainable growth and profitability [2][3]. Financial Performance - In the reporting period from 2022 to 2024, Yuan Chuang's revenue figures were 1.2607 billion yuan, 1.1415 billion yuan, and 1.3491 billion yuan, respectively, with a revenue growth of 18.19% in 2024. However, net profit figures were 138.9 million yuan, 177.6 million yuan, and 154.7 million yuan, indicating a decline of 12.94% in 2024 [3][4]. - The main products include agricultural rubber tracks, engineering rubber tracks, and rubber track plates, with agricultural rubber tracks generating significant revenue, accounting for 49.86%, 48.89%, and 53.5% of total revenue in the respective years [3][4]. Customer Concentration Risk - Yuan Chuang's sales are highly concentrated among its top five customers, with sales revenue of 631.6 million yuan, 531.5 million yuan, and 673.7 million yuan, representing 50.1%, 46.56%, and 49.94% of total revenue during the reporting period [4][5]. IPO Fundraising and Project Viability - The company plans to raise 48.5 million yuan through its IPO for production base construction, technology center construction, and working capital supplementation. The necessity of these projects is questioned, especially given the declining production capacity and utilization rates of rubber track plates [6][7]. - The production base project aims to add 550,000 rubber tracks and 1.6 million rubber track plates, despite a downward trend in production and utilization rates from 2022 to 2024 [6][7]. - The company has maintained a strong cash position, with cash reserves significantly exceeding short-term borrowings, raising questions about the need for additional working capital [7][8].