智通财经APP获悉，1月9日，中国证监会发布《关于同意长裕控股集团股份有限公司首次公开发行股票注册的批复》。据悉，长裕集团拟在上交所主板上 市，西南证券为其保荐机构，拟募资7亿元。 公司产品广泛应用于汽车、通讯、消费电子、高性能陶瓷、医疗等领域。公司建立了较为完善的销售网络和服务体系，产品广销中国大陆、欧洲、美国、日 本、韩国、印度、东南亚等国家和地区。锆类产品及特种尼龙产品是公司收入及利润的主要来源。 招股书显示，长裕集团主要从事锆类产品、特种尼龙产品、精细化工产品的研发、生产和销售，主要产品包括氧氯化锆、碳酸锆、氧化锆、纳米复合氧化 锆、特种尼龙、长碳链二元酸、长碳链二元醇及长碳链二甲酯等。 ...

智通财经APP获悉，12月22日，长裕控股集团股份有限公司(简称：长裕集团)申请上交所主板IPO审核 状态变更为"提交注册"。西南证券为其保荐机构，拟募资7亿元。 特种尼龙产品方面，公司现有1.5万吨/年特种尼龙聚合产能，系国内产能规模领先、品种丰富齐全的特 种尼龙供应商。 此次发行募集资金扣除发行费用后拟用于以下项目： | | | | | | 中:11: /J/U | | --- | --- | --- | --- | --- | --- | | 序号 | 项目名称 | 投资总额 | 拟使用募集 资金投资额 | 备案情况 | 环评情况 | | | 4.5 万吨超纯氧氯化铝及深 | | | 2301-370302- | 溜坏审 | | | 加工项目 | 30.405.78 | 30.000.00 | 89-01-421693 | [2023]37 | | | | | | | 를 | | 2 | 年产1 万吨高性能尼龙弹 性体制品项目 | 24.781.60 | 24.000.00 | 2301-370391- 89-01-167335 | 准高新环 评报告书 | | | | | | | [2023]2 号 | ...

Core Viewpoint - Changyu Group has successfully passed the IPO application for listing on the Shanghai Stock Exchange, marking a significant milestone for the company established in 2019, which has achieved profitability in the new materials sector within just six years [2]. Fundraising and Project Plans - The company plans to raise 700 million yuan, primarily for projects including 45,000 tons of ultra-pure oxygen chloride zirconium and deep processing, 10,000 tons of high-performance nylon elastomer products, and 1,000 tons of bioceramics and functional ceramics [2][3]. - The high-performance nylon elastomer project has a total investment of 248 million yuan, with 240 million yuan sourced from the fundraising [3]. Product and Market Position - Changyu Group's main products include oxygen chloride zirconium, zirconium carbonate, zirconium oxide, nano-composite zirconium oxide, special nylon, and long-chain diacids [8]. - The company has established a production capacity of 15,000 tons per year for special nylon products, which include long-chain nylon and nylon elastomers, and has received recognition for its technological advancements [10]. - The company holds a 30% market share in the domestic oxygen chloride zirconium market, ranking first in both China and globally [12]. Financial Performance - From 2022 to the first half of 2025, the company's revenue figures were 1.669 billion yuan, 1.608 billion yuan, 1.638 billion yuan, and 896 million yuan, respectively [17]. - The net profit attributable to the parent company for the same period was 263 million yuan, 195 million yuan, 212 million yuan, and 112 million yuan, respectively [17]. - The gross profit margin for zirconium products, a major source of revenue, was 82.73% in 2022, decreasing to 64.93% by 2025 [16]. Industry Context - The nylon elastomer products are characterized by high elasticity, low temperature impact resistance, and excellent anti-static properties, with key products including TPA1012 and TPA610 [5]. - The company has established partnerships with various industry leaders, enhancing its market position and collaborative potential [15].

12月19日，上交所上市审核委员会召开2025年第66次审议会议，审议长裕控股集团股份有限公司(简称"长裕集团")沪主板首发事项，最终公司顺利过会。 经过多年发展，长裕集团建立了较为完善的销售网络和服务体系，产品广销中国、欧洲、美国、日本、韩国、印度、东南亚等国家和地区。凭借良好的业内 口碑、较强的技术实力、出色的产品质量等竞争优势，长裕集团已与国瓷材料（300285）、第一稀元素日本东曹、比亚迪（002594）、索尔维、金发科技 （600143）、瑞士EMS、韩国韩华集团等行业知名企业建立了良好的合作关系。 锆类产品方面，长裕集团现有7.5万吨/年氧氯化锆产能，系全球产能最大的氧氯化锆生产商。公司锆类产品经营主体广通新材料凭借氧氯化锆产品获得国家 工业和信息化部授予的制造业单项冠军企业称号，行业地位突出。 招股书显示，长裕集团主要从事锆类产品、特种尼龙产品、精细化工产品的研发、生产和销售主要产品包括氧氯化锆、碳酸锆、氧化锆、纳米复合氧化锆、 特种尼龙、长碳链二元酸、长碳链二元醇及长碳链二甲酯等。公司系行业知名的锆类产品及特种尼龙产品供应商，氧氯化锆产能规模全球最大，特种尼龙产 能规模及品种丰富度国内领先。 ...

Group 1 - Changyu Group, established in 2019, is not a startup but has rapidly grown by absorbing existing assets and teams from its actual controller Liu Qiyong, with over 90% of its revenue and profit coming from acquired subsidiaries [2][4] - The company plans to go public on December 19, 2025, and has a leading global position in zirconium products, with an annual production capacity of 75,000 tons of oxychloride zirconium [4][7] - The main customers, including the first rare element, purchase products at a premium of 34.4% above market prices, raising concerns about the fairness of these transactions [9][10] Group 2 - The historical administrative penalties and debt disputes of Zibo Guangtong Chemical Co., the predecessor of Changyu Group, have been excluded from the listing framework, raising questions about transparency [3][5] - The prospectus fails to disclose the relationship between Liu Qiyong and key guarantor Che Xiufeng, which could be seen as a significant omission [12] - The management team largely consists of individuals from Zibo Guangtong, indicating that Changyu Group is not a newly established entity but rather a restructured version of an existing business [5][6] Group 3 - Changyu Group's revenue from its two main subsidiaries, Guangtong New Materials and Guangyin New Materials, accounted for 96.52% of total revenue in 2024, highlighting the dependency on these entities for financial performance [8] - The company has a low utilization rate of less than 50% for its nylon production capacity, yet it plans to raise funds for expansion, which raises questions about the rationale behind this decision [11] - The prospectus contains errors regarding the employment history of executives, which could indicate a lack of diligence in information disclosure [13]

2022年至2024年及2025年上半年，长裕集团营业收入分别为16.69亿元、16.08亿元、16.38亿元和8.96亿元，整体来看，虽 有小幅波动但整体收入规模在较高水平、经营规模较大。目前锆类产品下游行业市场需求长期保持稳中向好，作为行业知名供 应商及市场主要参与者，长裕集团产能规模全球最大，市场占有率全球第一，在锆类产品行业中占据优势地位，未来市场空间 广阔、需求持续向好。 （编辑 张昕） 锆类产品方面，长裕集团现有7.5万吨/年氧氯化锆产能，系全球产能最大的氧氯化锆生产商。该公司旗下锆类产品生产主 体山东广通新材料有限公司凭借氧氯化锆产品获得国家工业和信息化部授予的制造业单项冠军企业称号，行业地位突出。长裕 集团积极进行自主研发，不断改进主要产品生产工艺，该公司产品的技术工艺和产品质量在行业内处于先进水平。截至报告期 末（2025年上半年），该公司拥有研发人员112名。截至招股说明书签署日，该公司合计拥有76项专利，其中发明专利66项。 经过长期研发及探索，长裕集团氧氯化锆生产工艺、装备及应用通过中国有色金属工业协会钛锆铪分会组织召开的专家评 议会及中国石油和化学工业联合会科学技术成果鉴定，评议及鉴 ...

Core Viewpoint - Changyu Group is undergoing a second round of IPO review by the Shanghai Stock Exchange, addressing key issues related to consolidated financial statements, industry representation, and accounting treatment [1][2]. Group 1: IPO Details - Changyu Group's IPO was accepted on May 21, 2025, with a fundraising target of 7.13 billion yuan [2]. - The company is primarily engaged in the research, production, and sales of zirconium products, specialty nylon products, and fine chemical products [2]. - The IPO proceeds will be used for projects including 45,000 tons of ultra-pure zirconium chloride and 10,000 tons of high-performance nylon elastomer products [3]. Group 2: Financial and Operational Performance - The company reported fluctuating financial performance from 2022 to mid-2025, with revenues of 1.669 billion yuan, 1.608 billion yuan, 1.638 billion yuan, and 897 million yuan, and net profits of 263 million yuan, 195 million yuan, 212 million yuan, and 113 million yuan respectively [9]. - The average selling price of zirconium products has been declining, with prices of 24,000 yuan/ton, 20,200 yuan/ton, 18,000 yuan/ton, and 17,800 yuan/ton over the reporting periods [10][11]. - The gross profit margin for the main business has shown volatility, with rates of 28.35%, 23.27%, 23.83%, and 23.54% during the reporting periods [10]. Group 3: Market Position and Industry Representation - Changyu Group claims to be the largest producer of zirconium chloride globally, with a production capacity of 75,000 tons per year [5]. - The company estimates a domestic market share of approximately 29.64% and a global market share of about 22.62% for zirconium chloride in 2024 [6]. - The Shanghai Stock Exchange has requested further evidence regarding the company's market share and industry ranking [5]. Group 4: Accounting and Compliance Issues - The Shanghai Stock Exchange raised concerns about the consolidation of joint ventures, questioning whether Changyu Group has control over its joint ventures based on their governance structures [4]. - The company has defended its accounting treatment of CIF shipping costs, asserting compliance with international trade terms and accounting standards [8].

Core Viewpoint - The stock of Sanxiang New Materials Co., Ltd. experienced an abnormal trading fluctuation, with a cumulative closing price increase of over 20% over three consecutive trading days [2][4][11]. Group 1: Stock Trading Abnormality - The company's stock price deviated significantly, with a cumulative increase of over 20% on November 7, 10, and 11, 2025, which qualifies as an abnormal trading situation according to the Shanghai Stock Exchange regulations [2][4][11]. Group 2: Company Operations - The main business of the company includes the research, production, and sales of zirconium-based products and casting modification materials, with key products being fused zirconia, sponge zirconium, zirconium oxychloride, and special ceramics [5]. - As of the announcement date, the company's main business operations remain unchanged, and internal production activities are normal, with no significant changes in the market environment or industry policies [5]. Group 3: Major Events - After consulting with the controlling shareholder and actual controller, it was confirmed that there are no undisclosed major events, such as significant asset restructuring, share issuance, acquisitions, or other major business changes [6]. - The company did not find any media reports or market rumors that could significantly impact the stock price [7]. Group 4: Insider Trading - During the period of abnormal stock trading, there were no transactions involving the company's stock by other directors, senior management, controlling shareholders, or actual controllers [8]. Group 5: Additional Information - The board of directors confirmed that there are no undisclosed matters that should have been reported according to the relevant regulations, and previous disclosures do not require correction or supplementation [11].

Core Viewpoint - Dongfang Zirconium Industry (002167.SZ) has indicated that its oxychloride zirconium products can be utilized in the production of nuclear-grade sponge zircon used in the nuclear power industry [1] Company Summary - Dongfang Zirconium Industry is actively involved in the production of oxychloride zirconium products [1] - The company is positioning its products for applications in the nuclear power sector, specifically for nuclear-grade sponge zircon [1] Industry Summary - The nuclear power industry is a potential market for oxychloride zirconium products, highlighting the relevance of these materials in energy production [1]

Core Viewpoint - Dongfang Zirconium Industry (002167.SZ) has indicated that its oxychloride zirconium products can be utilized in the production of nuclear-grade sponge zircon for the nuclear power industry [1] Company Summary - Dongfang Zirconium Industry specializes in producing oxychloride zirconium products [1] - The company is actively involved in the nuclear power sector by providing materials essential for nuclear-grade applications [1] Industry Summary - The nuclear power industry is increasingly relying on specialized materials such as nuclear-grade sponge zircon, which is produced using oxychloride zirconium [1]