招股书显示，中塑股份主营业务为改性工程塑料的研发、生产和销售。公司主要产品应用于消费电子、储能、汽车、家居家电等 行业，终端产品包括手机、智能穿戴设备、平板电脑及笔记本电脑、蓝牙音箱、储能电源、新能源汽车及家电等各类产品。公司 结合消费电子等行业产品快速迭代以及对高品质的要求，以产品差异化战略为指导，重点开发高附加值的改性工程塑料产品，以 满足下游产品对材料的个性化需求。 智通财经APP获悉，12月31日，广东中塑新材料股份有限公司(简称：中塑股份)IPO状态变更为"中止"。中塑股份IPO申请文件中 记录的财务资料已过有效期，需要补充提交。 公司坚持自主研发并持续丰富产品系列，核心产品包括改性 PC、PC/ABS、PA、PPA、PBT、PET 等高性能工程材料，并针对客 户产品对电气互联、低介电、耐高温、防水散热性等特定需求，开发了可激光直接成型(LDS)材料、纳米注塑(NMT)专用工程材 料、超耐高温特种尼龙材料等特种功能材料。 公司主营业务产品具体介绍如下表所示： | 产品类别 | 技术水平 及附加值 | 产品系列 性能特征及主要应用领域 | | --- | --- | --- | | 高性能工 | 较高 ...

报告期内，公司业绩呈现稳步增长态势。招股书数据显示，2022年至2024年，公司分别实现营业收入4.93亿元、5.37亿元、7亿元，扣除非经常性 损益后归属于母公司股东的净利润分别为4875.55万元、8084.74万元、9256.66万元，最近三年营收和扣非净利润复合增长率分别为19.11%和 37.79%；2025年一季度，公司实现营业收入1.52亿元，扣非后净利润2423.73万元。 （图片来源：视觉中国） 蓝鲸新闻12月31日讯 近日，深圳证券交易所官网显示，广东中塑新材料股份有限公司（以下简称"中塑股份"）递交招股书，拟在创业板挂牌上 市。 中塑股份的主营业务为改性工程塑料的研发、生产和销售，核心产品涵盖改性PC、PC/ABS、PA、PPA、PBT、PET等高性能工程材料，同时针对 下游行业特定需求，开发了可激光直接成型（LDS）材料、纳米注塑（NMT）专用工程材料等特种功能材料。 这些产品广泛应用于消费电子、储能、汽车、家居家电等领域，终端覆盖手机、智能穿戴设备、新能源汽车、储能电源等各类产品。凭借产品差 异化战略，公司重点布局高附加值产品，以满足下游客户对材料的个性化需求，目前已获得国内外诸多知 ...

来源：市场资讯 （来源：链塑网） 据招股书披露，中塑股份本次拟募资的6.45亿元，拟用于"高性能工程材料智能化生产基地建设项目""江西中塑生产基地扩建项目""新材料工程技术研究中 心建设项目"等项目。 项目建成后将开展前瞻创新性项目的研发，包括生物基长碳链尼龙、无卤阻燃特种高温尼龙、6G介电材料、高性能透明硅共聚PC 材料、高性能PC合金及 复合材料、低介电低损耗高分子树脂、吸波工程塑料合金、生物基耐高温聚酰胺 PA10T/X 产业化关键技术及应用等前沿研发项目的攻关研制工作。 近日，国家高新技术企业、专精特新 "小巨人" 广东中塑新材料股份有限公司（下称 "中塑股份"）创业板IPO项目迎来关键节点——已进入交易所问询阶 段，标志着这家改性塑料领域企业的上市冲刺迈入实质性审核环节。 得益于中国改性塑料行业的增长红利，中塑股份近年业绩表现亮眼。数据显示，2023年、2024年公司业绩同比增幅分别达52.63%和26.27%，这一成绩背 后是全球改性塑料产业的稳步扩张与国内市场的强劲需求。据统计，2016-2023年我国改性塑料产量从1563万吨攀升至2735万吨，年复合增长率8.32%，作 为全球最大塑料材料消 ...

Core Viewpoint - Guangdong Zhongsu New Materials Co., Ltd. has officially announced its IPO project on the ChiNext board, aiming to raise 645 million yuan for various high-performance engineering materials projects and R&D initiatives [2][3]. Group 1: IPO and Fundraising - The company plans to use the raised funds for the construction of a smart production base for high-performance engineering materials, expansion of the Jiangxi production base, and establishment of a new materials engineering technology research center [2][3]. - The total investment for these projects is approximately 698.11 million yuan, with 645.49 million yuan coming from the IPO proceeds [3]. Group 2: Business Overview - Established in September 2009, Zhongsu specializes in modified engineering plastics, recognized as a national-level "little giant" enterprise, focusing on R&D, production, and sales [3]. - The company's core products include modified PC, PC/ABS, PA, PPA, PBT, and PET, catering to specific customer needs in various industries such as consumer electronics, energy storage, and automotive [4][5]. Group 3: Financial Performance - From 2022 to Q1 2025, the company's main business revenue showed a steady increase, with figures of 493 million yuan in 2022, 528 million yuan in 2023, 689 million yuan in 2024, and 151 million yuan in Q1 2025 [5][6]. - Net profit grew from 51.71 million yuan in 2022 to 100 million yuan in 2024, indicating strong profitability and growth potential [5][6]. Group 4: Product and Market Dynamics - The gross margin for high-performance engineering materials was 27% in 2024, while for specialty functional materials, it reached 45.54%, highlighting the latter's increasing importance in the product mix [7]. - The company has established partnerships with major clients in the consumer electronics sector, with over 70% of its revenue coming from this segment, including companies like BYD, Huawei, and Xiaomi [5][6]. Group 5: Industry Trends - The modified plastics industry is experiencing growth, with over 25 listed companies in the A-share market as of May 2025, driven by rising demand in automotive and other sectors [7]. - The industry is undergoing a transformation, with leading companies focusing on R&D investment, capacity expansion, and vertical integration to build competitive advantages [7][8].

Core Viewpoint - Tianjian New Materials Co., Ltd. is racing against time to go public on the Beijing Stock Exchange, facing significant performance challenges and potential buyback obligations if the listing fails [1][4]. Financial Performance - The company's revenue for 2022, 2023, and 2024 was 832.38 million, 933.80 million, and 1.13 billion yuan respectively, while net profits were 61.59 million, 82.88 million, and 63.52 million yuan, indicating a decline in profitability [4][5]. - The gross profit margin decreased from 22.25% in 2023 to 16.09% in 2024, primarily due to falling prices of main products [5][6]. Customer Dependency - The company heavily relies on BYD, with revenue from the top five customers accounting for 44.83%, 50.04%, and 51.31% over the reporting period, and BYD's contribution rising from 26.22% to 41.70% [7][8]. - The average selling price of products sold to BYD decreased by 11.61% in 2024, while unit costs increased by 3.01% [6][7]. Accounts Receivable and Liquidity - Accounts receivable increased from 432 million yuan in 2022 to 631 million yuan in 2024, with the ratio of accounts receivable to revenue rising from 51.93% to 55.90% [8]. - The company's asset-liability ratio increased from 61.22% in 2022 to 67.47% in 2024, indicating growing financial pressure [8]. Future Outlook - In the first half of 2025, revenue is expected to increase by 1.13% to 472 million yuan, but net profit is projected to decline by 5.35% [9]. - The company aims to enhance its market share among existing electric vehicle customers and strengthen its competitive position in the 3C electronics sector [9].

Core Viewpoint - Zhongsu Co., Ltd. has initiated its IPO process on the ChiNext board, aiming to raise 645 million yuan for various projects and working capital [1][2]. Group 1: Company Overview - Zhongsu Co., Ltd. specializes in the research, production, and sales of modified engineering plastics, with applications in consumer electronics, energy storage, automotive, and home appliances [1][2]. - The company’s core products include high-performance engineering materials such as modified PC, PC/ABS, PA, PPA, PBT, and PET, developed to meet specific customer needs [1][2]. Group 2: Financial Performance - From 2022 to Q1 2025, Zhongsu Co., Ltd. reported revenues of 493 million yuan, 537 million yuan, 700 million yuan, and 152 million yuan, with net profits of 48.76 million yuan, 79.24 million yuan, 92.57 million yuan, and 24.24 million yuan respectively [2]. - The company has achieved a compound annual growth rate of 19.11% in revenue and 37.79% in net profit over the last three years [2]. Group 3: IPO Fund Utilization - The IPO proceeds will be allocated to the construction of a smart production base for high-performance engineering materials, expansion of the Jiangxi production base, and establishment of a new materials engineering research center [2][3]. - The smart production base aims to enhance market responsiveness and strengthen the company's competitive position [3]. - The expansion of the Jiangxi production base will significantly increase production capacity and improve supply capabilities in the East China region [3].

Group 1: Company Listings and Filings - Five companies submitted listing counseling reports for approval in the domestic market from September 15 to September 21 [2] - Benyuan Quantum Computing Technology (Hefei) Co., Ltd. focuses on quantum computing and has received a total of 9 rounds of financing since 2017, with a valuation of 7.1 billion [3][4] - Beijing Weina Star Technology Co., Ltd. specializes in satellite manufacturing and has successfully launched 27 satellites, with a valuation of 1 billion [5][6] - Shenzhen Car Cool Technology Co., Ltd. is a multifunctional automotive emergency power supply provider and has completed 5 rounds of financing since 2021 [7][9] - Qingdao Haishenlin Hair Products Group Co., Ltd. focuses on high-end wig production and has completed 4 rounds of financing since 2021 [10][11] - Zhejiang Weibang Sports Technology Group Co., Ltd. specializes in outdoor sports products and has submitted a listing counseling report [12] Group 2: Industry Trends - The commercial aerospace sector is experiencing a listing boom, with several unicorn companies entering the counseling or application stages for public offerings [7] - Three companies passed the counseling acceptance from September 11 to September 21, indicating a positive trend in the market [15][16] - Five companies had their listing counseling terminated during the same period, reflecting the dynamic nature of the market [22] Group 3: Company Profiles and Financing - Anshi Biotechnology Co., Ltd. focuses on targeted cancer drug development and has completed 4 rounds of financing since 2021 [16][17] - Guangdong Zhongsu New Materials Co., Ltd. specializes in modified engineering plastics and has undergone 2 rounds of financing in 2022 [18][19] - Zhuzhou Times Huaxin New Materials Technology Co., Ltd. is involved in the research and production of polymer materials and has completed 6 rounds of financing since 2019 [20][21]

Core Viewpoint - Tianjian New Materials Co., Ltd. is under scrutiny from the Beijing Stock Exchange regarding its listing application, with specific concerns about customer stability, performance decline risks, and financial metrics [1][3]. Group 1: Listing Application and Regulatory Scrutiny - Tianjian New Materials received its first round of inquiry from the Beijing Stock Exchange, which requested further clarification on the stability of major customer collaborations and the risks of declining performance [1][3]. - The inquiry highlighted eight core issues, including technology innovation, customer dependency, liquidity risks, and the rationality of fundraising projects [3]. Group 2: Financial Performance - The company reported revenues of 829 million yuan, 930 million yuan, and 1.122 billion yuan for the years 2022 to 2024, respectively, but saw a decline in net profit from 82.79 million yuan in 2023 to 61.93 million yuan in 2024, raising regulatory concerns about the disparity between revenue growth and profit decline [3][4]. - The gross profit margins for modified PC and PC alloys decreased to 17.59% and 23.48% in 2024, respectively, with the raw material distribution business dropping to 7.69% [5]. Group 3: Customer Dependency and Revenue Recognition - Sales to BYD accounted for 41.70% of total sales in 2024, up from 26.22% in 2022, indicating a growing dependency on a single customer [4]. - The company’s consignment revenue increased from 27.51% to 43.66% during the reporting period, prompting inquiries about revenue recognition practices and potential manipulation [4]. Group 4: Liquidity and Financial Health - The accounts receivable as a percentage of revenue rose from 51.93% in 2022 to 55.90% in 2024, with a declining accounts receivable turnover ratio compared to industry peers [5][6]. - The company’s short-term and long-term borrowings increased from 154 million yuan to 372 million yuan, with liquidity ratios below industry averages, raising concerns about its ability to meet operational cash flow needs [6]. Group 5: Fundraising and Capacity Utilization - Tianjian New Materials plans to raise 397 million yuan for manufacturing and R&D centers, despite already achieving a capacity utilization rate of 119% in 2024 [6]. - The inquiry emphasized the necessity and rationality of the fundraising projects, questioning the company's ability to absorb new capacity in light of potential market slowdowns in the new energy vehicle and 3C sectors [6].

Group 1 - The capital market has recently experienced a revival, with major companies like CATL, Xinwangda, and Yiwei Lithium Energy listing on the Hong Kong Stock Exchange, indicating increased investor confidence in the new materials sector [1] - In the past two months, several companies in the high-end chemical new materials sector, including Caike Technology, Xinhengtai, and Kerun New Materials, have initiated IPO processes, showcasing a trend of industry leaders and "small giants" entering the market [1] Group 2 - Tiankai New Materials has successfully transitioned from the New Third Board to the Beijing Stock Exchange, with an IPO application recently accepted, aiming to raise 397 million yuan by issuing up to 14.2786 million shares [2] - The funds raised will be allocated to projects including the manufacturing center (Phase II), R&D center, and technical upgrades for the Dongguan Aoneng modified plastics production line, as well as to supplement working capital [2][3] Group 3 - Tiankai New Materials specializes in the R&D, production, and sales of high-performance modified engineering plastics, with a significant focus on modified PC products, which accounted for 53.09% to 58.89% of sales revenue over the past three years [4] - The company has shown a consistent increase in production capacity and utilization rates, with capacity utilization rates projected to rise from 83.43% in 2022 to 114.13% in 2024 [4][6] Group 4 - Tiankai New Materials' products are widely used in various sectors, including new energy vehicles, 3C electronics, and smart home applications, with major clients such as BYD, Xiaomi, and Huawei [5] - The company's revenue is projected to grow from approximately 830 million yuan in 2022 to 1.12 billion yuan in 2024, with net profits expected to fluctuate around 61.59 million yuan to 63.52 million yuan during the same period [5] Group 5 - The global PC resin market is dominated by major producers like Covestro and SABIC, with domestic production capacity reaching 3.81 million tons by the end of 2024, while the high-end PC product market still requires significant development [7]

Core Viewpoint - The capital market is experiencing a revival, with numerous companies in the high-end chemical new materials sector, such as DT New Materials, actively pursuing IPOs, indicating renewed investor confidence and funding availability in the new materials sector [1]. Group 1: Company Developments - DT New Materials has reported multiple companies in the high-end chemical new materials field initiating IPO processes, including major players like Caike Technology and Xinhengtai [1]. - Tianjian New Materials has successfully transitioned from the New Third Board to the Beijing Stock Exchange, with an IPO application officially accepted, aiming to raise approximately 397 million yuan [2]. - The company plans to issue up to 14.2786 million shares to fund various projects, including a manufacturing center and a research and development center [2][3]. Group 2: Financial Performance - Tianjian New Materials has shown a consistent increase in revenue, with projected revenues of approximately 830 million yuan, 930 million yuan, and 1.12 billion yuan for 2022, 2023, and 2024 respectively, alongside net profits of 61.59 million yuan, 82.85 million yuan, and 63.52 million yuan [5]. - The company's gross profit margins are projected to be 20.34%, 22.25%, and 16.09% for the same years, indicating fluctuations in profitability [5]. - The production capacity utilization rates are expected to rise from 83.43% in 2022 to 114.13% in 2024, reflecting efficient production management [5][6]. Group 3: Product and Market Insights - Tianjian New Materials specializes in high-performance modified engineering plastics, with a significant focus on modified PC products, which accounted for 53.09%, 58.89%, and 55.93% of sales revenue in the last three years [4][6]. - The company serves various industries, including new energy vehicles, 3C electronics, and smart home applications, with major clients like BYD and Xiaomi [5]. - The global PC resin market is dominated by major producers such as Covestro and SABIC, while domestic production capacity is nearing stability, with a total capacity of 3.81 million tons and a production volume of 2.3 million tons expected by the end of 2024 [7][8].