Core Viewpoint - Youyan Composite Materials (Beijing) Co., Ltd. has applied for an IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with a fundraising target of 900 million yuan [1] Group 1: Company Overview - Youyan Composite Materials is a high-tech enterprise primarily engaged in the research, production, and sales of metal composite materials and special non-ferrous metal alloy products [1] - The company's product offerings include metal matrix composite materials, bimetallic composite materials, special aluminum alloy products, and special copper alloy products, which are widely used in aerospace, military electronics, smart terminals, and home appliances [1] Group 2: Revenue Composition - In the fiscal year 2024, the revenue composition is projected to be 72.8% from metal composite materials and 27.2% from special non-ferrous metal alloy products [2] - The company has a significant portion of its sales coming from international markets, with overseas sales accounting for 37.42%, 27.99%, and 21.52% of total revenue in the years 2022, 2023, and 2024, respectively [2] Group 3: Financial Data - The company's projected revenues for the years 2022, 2023, and 2024 are approximately 414 million yuan, 498 million yuan, and 610 million yuan, respectively [3] - The net profits for the same years are estimated to be around 75.11 million yuan, 61.91 million yuan, and 68.44 million yuan, respectively [3] - Total assets as of December 31 for the years 2022, 2023, and 2024 are reported to be 576.36 million yuan, 755.33 million yuan, and 1.088 billion yuan, respectively [5] - The company's equity attributable to shareholders is projected to grow from 307.88 million yuan in 2022 to 745.99 million yuan in 2024 [5] Group 4: Financial Ratios - The debt-to-asset ratio for the parent company is expected to decrease from 38.91% in 2023 to 26.72% in 2024, indicating improved financial stability [7] - The consolidated debt-to-asset ratio is projected to decline from 40.53% in 2023 to 30.97% in 2024 [7]

IPO前，中国有研直接持有有研复材50.85%的股份，并通过控股子公司有研工研院间接持有有研复材19.81%的股份，通过全资子公司有研鼎盛间接持有有研 复材1.39%的股份，合计控制有研复材72.06%的股份，系有研复材的控股股东。 瑞财经 刘治颖 6月30日，有研金属复合材料（北京）股份公司（以下简称：有研复材）科创板IPO获已受理，保荐机构为中信证券股份有限公司，保荐代表 人为伍玉路、李钦佩，会计师事务所为信永中和会计师事务所（特殊普通合伙）。 招股书显示，有研复材是一家主要从事金属复合材料及制品、特种有色金属合金制品的研发、生产和销售的高新技术企业，主要产品包括金属基复合材料及 制品、双金属复合材料及制品、特种铝合金制品和特种铜合金制品等，公司产品广泛应用于航空航天、军工电子、智能终端、家用电器等领域。 本次IPO，有研复材拟募集资金9亿元，将用于先进金属基复合材料产业化项目二期、研发中心项目、补充流动资金。 业绩方面，2022年至2024年，有研复材实现营业收入分别为4.14亿元、4.98亿元、6.1亿元，扣非归母净利润分别为2365.42万元、4505.87万元和5536.12万 元；主营业务毛利率 ...

Company Overview - Youyan Metal Composite Materials (Beijing) Co., Ltd. has been accepted for IPO on the Sci-Tech Innovation Board, with CITIC Securities as the sponsor and Xinyong Zhonghe Accounting Firm as the auditor [2] - The company focuses on the R&D, production, and sales of metal composite materials and special non-ferrous metal alloy products, with its main products including metal matrix composite materials, bimetallic composite materials, special aluminum alloys, and special copper alloys [2] Industry Insights - The metal composite materials industry in China is rapidly expanding into civilian sectors, driven by demand from emerging industries such as smart terminals and new energy vehicles, with the market size projected to grow from 26.4 billion yuan in 2020 to 42 billion yuan in 2024, reflecting a compound annual growth rate (CAGR) of 12.31% [3] - The market for metal matrix composites in China is expected to increase from 7 billion yuan in 2020 to 11 billion yuan in 2024, with a CAGR of 11.94%, and further growth to 21.2 billion yuan by 2027 [5] - Special non-ferrous metal alloy products are defined as high-performance alloy materials made from non-ferrous metals with specific alloying elements and special processing techniques, widely used in aerospace and rail transportation [8] - The demand for aerospace aluminum alloys in China is projected to reach 50,000 to 100,000 tons per year by 2025, and 150,000 to 200,000 tons per year by 2035 [8]