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]

Core Viewpoint - Youyan Composite Materials (Beijing) Co., Ltd. has received acceptance for its IPO on the Sci-Tech Innovation Board, aiming to raise 900 million yuan for various projects and working capital [3]. Group 1: Company Overview - Youyan Composite Materials is a high-tech enterprise primarily engaged in the R&D, production, and sales of metal composite materials and special non-ferrous metal alloy products [3]. - The company's main products 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 [3]. Group 2: Financial Performance - The projected operating revenues for Youyan Composite Materials from 2022 to 2024 are 414 million yuan, 498 million yuan, and 610 million yuan, respectively [3]. - The net profits attributable to the parent company for the same period are expected to be 23.65 million yuan, 45.06 million yuan, and 55.36 million yuan, respectively [3]. - The gross profit margins for the main business are projected to be 26.93%, 27.45%, and 25.97% for the years 2022, 2023, and 2024, respectively [3]. Group 3: Shareholding Structure - China Research Institute directly holds 50.85% of Youyan Composite Materials and indirectly holds an additional 19.81% through its subsidiary, totaling 72.06% control [4]. - The actual controller of Youyan Composite Materials is the State-owned Assets Supervision and Administration Commission of the State Council, which fully funds China Research Institute [5]. Group 4: Management Team - The current chairman and core technical personnel is Fan Jianzhong, while Chen Chunsheng serves as the general manager [7]. - Zhao Caixia holds the positions of financial director, board secretary, and general legal counsel [7]. - The total compensation for the management team during the reporting period was 5.7464 million yuan, 6.4295 million yuan, and 6.3075 million yuan, representing 6.81%, 9.41%, and 8.26% of the total profit for the respective periods [7].

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]