沪市主板IPO撤单不足半年时间，福建德尔科技股份有限公司（以下简称"福建德尔"）欲卷土重来，再度向资本市场发起冲击。近日，证监会官网显示，福 建德尔启动上市辅导，辅导机构仍为申万宏源证券承销保荐有限责任公司。不同于公司前次IPO的净利波动趋势，1月29日，福建德尔方面负责人在接受北 京商报记者采访时表示，2025年公司业绩实现稳健快速增长，营业收入再创历史新高并超过20亿元，净利润也同步取得较高速度增长。对于公司申报上市板 块问题，该负责人表示，因辅导阶段此信息并不是强制要求，公司将根据自身发展需要来平衡，暂时还无法确定。 广州思益得首席策略官陈彦颐表示，前次IPO撤单后，较短时间内公司启动上市辅导，一定程度上反映了公司对自身业务发展的迫切需求，就处于技术密集 型和资金密集型行业的企业而言，无论是研发投入、产能扩张还是产业链布局，都需要大量持续的资金注入。 回溯福建德尔过往业绩表现，2021—2024年，公司实现营业收入分别约为12.55亿元、16.98亿元、14.18亿元、16.87亿元；对应实现归属净利润分别约为3.03 亿元、2.21亿元、1.19亿元、1.31亿元。 对于公司2022年、2023年净利 ...

福建德尔官网显示，公司主要从事氟化工基础材料、新能源锂电材料、特种气体和半导体湿电子化学品 等多系列含氟新材料的研发、生产和销售。产品广泛应用于半导体芯片、LED芯片、平板显示、通讯光 纤、动力和储能电池、特高压输变电、光伏发电等。 据上市辅导备案报告，福建德尔成立于2014年6月13日，注册资本10.39亿元，法定代表人为华祥斌。股 权关系方面，公司无控股股东；公司实际控制人为赖宗明、华祥斌、黄天梁，三人合计持股35.06%。 北京商报讯（记者 马换换 李佳雪）沪市主板IPO撤单不足半年时间，福建德尔科技股份有限公司（以 下简称"福建德尔"）欲卷土重来，再度向资本市场发起冲击。1月28日，证监会官网显示，福建德尔科 技股份有限公司（以下简称"福建德尔"）启动上市辅导，辅导机构为申万宏源证券承销保荐有限责任公 司。 值得一提的是，在本次启动上市辅导前，福建德尔曾有过冲击沪市主板IPO的经历。上交所官网显示， 公司前次IPO于2023年6月30日获得受理，当年7月27日进入问询阶段，不过最终于2025年8月22日撤 单。 ...

Core Viewpoint - Fujian Del Technology Co., Ltd. has voluntarily withdrawn its IPO application, leading to the termination of its listing review by the Shanghai Stock Exchange. The company initially aimed to raise 3 billion yuan but later reduced its fundraising target to less than 2 billion yuan due to performance fluctuations and governance concerns [2][4]. Group 1: Fundraising and IPO Process - Fujian Del primarily engages in the research, production, and sales of fluorinated new materials, which are considered a "golden industry" with significant downstream market potential [3]. - The company submitted its IPO application in June 2023, initially planning to raise 3 billion yuan for projects related to electronic-grade trifluorochlorine production and fluorinated semiconductor materials [3][4]. - The latest prospectus indicates a revised fundraising target of 1.945 billion yuan, reflecting a significant reduction from the original plan [4]. Group 2: Financial Performance - Fujian Del's financial performance has shown volatility, with revenues of 1.698 billion yuan in 2022, 1.418 billion yuan in 2023 (a 16.52% decline), and an expected 1.687 billion yuan in 2024 [6]. - The company's net profit attributable to shareholders has also decreased, with figures of 221 million yuan in 2022, 119 million yuan in 2023 (a 46.26% decline), and an anticipated 131 million yuan in 2024 [6]. Group 3: Governance Issues - The company lacks a controlling shareholder, with the actual controllers holding a combined voting power of only 35.06%. This low ownership percentage raises potential risks in decision-making and management [8]. - Fujian Del has acknowledged the governance risks associated with its ownership structure, despite efforts to stabilize control through a signed agreement among the actual controllers [8]. Group 4: Market Environment and Regulatory Scrutiny - The IPO process has faced scrutiny from regulators, who have requested detailed disclosures regarding market size, competition, pricing mechanisms, and customer distribution for Fujian Del's products [7]. - The current trend of IPO withdrawals is attributed to internal company issues, stricter regulatory standards, and changing market conditions, leading to a cautious investor sentiment [9].

Company Overview - Fujian Del Technology Co., Ltd. is primarily engaged in the research, production, and sales of fluorinated new materials, including fluorochemical basic materials, new energy lithium battery materials, special gases, and semiconductor wet electronic chemicals, and is recognized as a national high-tech enterprise with core independent intellectual property rights [1] Industry Insights - The fluorochemical industry is regarded as a "golden industry" with significant downstream market potential, characterized by high technical content, high added value, and high growth, making it an important component of the national strategic emerging industries [2] - As of the end of 2023, there are approximately 1,000 fluorochemical enterprises in China, covering various sectors such as inorganic fluorides, fluorocarbon chemicals, fluorinated polymers, and fine fluorochemical products, with total production capacity exceeding 10 million tons and total output surpassing 7 million tons, resulting in a total output value exceeding 500 billion yuan [2] - The fluorochemical industry chain starts with fluorite ore, with hydrogen fluoride being the most basic product and raw material, leading to higher added value as product processing depth increases, which plays a crucial role in promoting the structural adjustment and product upgrading of China's manufacturing industry [3] Company Strategy - Fujian Del focuses on national strategic needs, developing products in line with national strategic emerging industries, including fluorinated special gases, semiconductor wet electronic chemicals, and new energy lithium battery materials [4] - The company leverages technological innovation to overcome key technical challenges, developing a series of import substitution products and establishing significant core technological competitiveness and industry position in the field of fluorinated electronic special gases [4] - Fujian Del aims to enhance its fluorochemical industry chain layout, gradually moving towards the mid-to-high end of the fluorochemical value chain, and expanding its business in the semiconductor wet electronic chemicals sector, thereby achieving synergistic development between fluorochemical and electronic specialty materials [4]

Group 1 - The core point of the article is that Fujian Del Technology Co., Ltd. has terminated its main board IPO application due to the withdrawal of the application by the company and its sponsor [1] - The Shanghai Stock Exchange announced the termination of the IPO review process based on relevant regulations [1] - Fujian Del's IPO application was accepted on June 30, 2023, and it entered the inquiry stage on July 27, 2023 [1] Group 2 - Fujian Del primarily engages in the research, production, and sales of fluorine-based materials, including fluorochemical basic materials, new energy lithium battery materials, special gases, and semiconductor wet electronic chemicals [1]

Core Viewpoint - Fujian Del Technology Co., Ltd. has terminated its IPO review, marking the second withdrawal in two months, with significant challenges in its financial performance and a strategic shift in its product offerings [1][2]. Financial Performance - Fujian Del's revenue from 2020 to 2024 was reported as 443.82 million, 1.26 billion, 1.70 billion, 1.42 billion, and 1.69 billion respectively, with a 16.52% decline in 2023 compared to the previous year [1]. - The net profit attributable to the parent company, excluding non-recurring gains and losses, showed a continuous decline from -10.33 million in 2020 to 86.18 million in 2023, with a significant drop of 79.72% in 2023 [1][2]. Product Dependency and Structural Changes - In 2022, lithium hexafluorophosphate, a key product, accounted for 39.73% of the company's main business revenue and 59.88% of its gross profit, indicating a high dependency on this segment [2]. - The company plans to reduce the revenue share of lithium hexafluorophosphate to 17.01% in 2023 and 12.28% in 2024, while increasing the share of fluorochemical basic materials from 34.02% in 2022 to 42.96% in 2024 [2]. Fundraising and Project Adjustments - The initial fundraising target was set at 3 billion, which was later reduced to 1.945 billion, with a significant cut in the number of projects from seven to three, focusing on semiconductor materials [3]. - The revised projects include the production line for electronic-grade chlorine trifluoride and other semiconductor-related initiatives, while dropping the new energy materials projects [3]. Financial Metrics - The company's operating income for 2024 is projected at 1.69 billion, with a net profit of 86.18 million, showing a recovery from 35.73 million in 2023 [4]. - The total assets increased from 5.36 billion in 2022 to 6.07 billion in 2023, reflecting growth despite the challenges faced [5].

Core Viewpoint - The Shanghai Stock Exchange has decided to terminate the review of Fujian Del Technology Co., Ltd.'s application for an initial public offering (IPO) on the Shanghai main board, following the company's request to withdraw its application [1][2]. Company Overview - Fujian Del primarily engages in the research, production, and sales of fluorine-based new materials, including fluorochemical basic materials, new energy lithium battery materials, special gases, and semiconductor wet electronic chemicals [2]. - The company does not have a controlling shareholder, with the largest shareholder, Lai Zongming, holding 15.60% of the shares. No single shareholder can influence the board's decisions significantly [2]. Shareholding Structure - The actual controllers of Fujian Del are Lai Zongming, Hua Xiangbin, and Huang Tianliang, who collectively control 35.06% of the voting rights. They signed a "consensus action agreement" to ensure unified decision-making in shareholder meetings [3][4]. - To prevent deadlocks due to disagreements among the actual controllers, a supplementary agreement was signed on August 1, 2023, stipulating that no party can abstain from voting in case of disputes [4]. IPO Details - Fujian Del originally planned to issue between 115,420,403 and 183,314,756 shares, representing 10% to 15% of the post-issue total share capital. The offering was intended to be a public issuance of new shares without involving existing shareholders [4]. - The company aimed to raise 194.5 million yuan for projects including a production line for electronic-grade chlorine trifluoride, fluorine semiconductor materials, and a semiconductor-grade electronic materials project [4][5].

Core Viewpoint - Fujian Del Technology Co., Ltd. has withdrawn its IPO application, leading to the termination of its listing review by the Shanghai Stock Exchange [1] Company Overview - Fujian Del was established in 2014 and specializes in the research, production, and sales of fluorine-based new materials, including fluorochemical basic materials, new energy lithium battery materials, special gases, and semiconductor wet electronic chemicals. It is recognized as a national high-tech enterprise with core independent intellectual property rights [2] Financial Performance - The company ranked 422nd in the 2024 Hurun Global Unicorn List [3] - Revenue figures for the years 2022, 2023, and 2024 are 1.698 billion, 1.418 billion, and 1.687 billion CNY respectively, showing a decrease from 2022 to 2023 and a recovery in 2024 [3][4] - Net profit attributable to the parent company for the same years is 221 million, 119 million, and 130 million CNY, indicating a significant drop in 2023 [3][4] - The net profit after deducting non-recurring gains and losses for the years is 184 million, 36 million, and 86 million CNY, reflecting a similar trend [3][4] Key Financial Metrics - Total assets for 2024 are 6.856 billion CNY, up from 6.071 billion CNY in 2023 and 5.361 billion CNY in 2022 [4] - Equity attributable to shareholders of the parent company increased to 4.818 billion CNY in 2024 from 4.680 billion CNY in 2023 and 4.543 billion CNY in 2022 [4] - The company's gross profit margin for its main business is 16.04% in 2024, down from 16.79% in 2023 and significantly lower than 29.75% in 2022 [4] - The debt-to-asset ratio is 28.81% in 2024, compared to 21.95% in 2023 and 14.50% in 2022, indicating increasing leverage [4] Recent Developments - In the first quarter of 2025, the company achieved a revenue of 481 million CNY, a year-on-year increase of 46.03%, and a net profit after deducting non-recurring gains of 30 million CNY, up 43.10% year-on-year [4] - The company has proposed to raise funds for several projects, including a production line for electronic-grade trifluorochlorine and semiconductor materials, with a total planned investment of 19.45 billion CNY [7][8] Shareholder Structure - The company does not have a controlling shareholder, with the largest shareholder, Lai Zongming, holding 15.60% of the shares. Lai Zongming, Hua Xiangbin, and Huang Tianliang collectively control 35.06% of the voting rights and have signed a joint action agreement [8]