深圳商报读创客户端记者 舒桂林 深圳市墨库新材料集团股份有限公司（简称"墨库股份"）近日向深交所递交创业板IPO招股书，计划公 开发行1300万股新股，募资7.2亿元用于年产4万吨高性能环保墨水项目、总部研发中心建设及补充流动 资金。 招股书显示，墨库股份主要从事数码喷印墨水的研发、生产与销售，主要产品包括分散墨水、涂料墨 水、UV墨水、水性染料墨水等。公司产品应用于新兴的数码喷印技术，该技术集计算机、机电一体 化、精密机械制造、精细化工等高新技术于一体，主要运用数字化设备与喷印技术，通过控制系统将数 码喷印墨水按照设定程序喷印至承印材料上形成图案的过程。 墨库股份2022-2024年营收分别为5.22亿元、6.18亿元和7.27亿元，年均复合增长率达17.95%；同期归母 净利润从5758万元跃升至1.43亿元，年均复合增长率高达57.84%。2025年前三季度，公司继续保持增长 势头，实现营收5.90亿元，净利润9475万元。 尽管业绩亮眼，招股书也提示了若干风险因素： 租赁房产瑕疵构成潜在隐患。公司生产经营使用的部分房产存在未取得产权证书或未办理租赁备案情 形，涉及租赁面积超3万平方米。尽管高栏港分公司 ...

12月25日，深圳市墨库新材料集团股份有限公司(简称：墨库股份)深交所创业板IPO已受理。华泰联合 证券为其保荐机构，拟募资7.2亿元。 招股书显示，墨库股份主要从事数码喷印墨水的研发、生产与销售，主要产品包括分散墨水、涂料墨 水、UV墨水、水性染料墨水等。 公司产品应用于新兴的数码喷印技术，该技术集计算机、机电一体化、精密机械制造、精细化工等高新 技术于一体，主要运用数字化设备与喷印技术，通过控制系统将数码喷印墨水按照设定程序喷印至承印 材料上形成图案的过程。 报告期内，公司主营业务收入的构成情况如下： 公司生产的数码喷印墨水作为关键耗材，与数码喷头、系统板卡等核心部件以及其他配件产品配套于数 码喷印设备，主要应用于纺织品数码印花、广告图像、桌面办公打印、包装及出版物、电子电路、建筑 装饰、工艺装饰品等领域。 根据中国印刷及设备器材工业协会的统计数据，2022年我国数码喷印墨水的市场规模为14.53万吨， 2023年我国数码喷印墨水的市场规模预测为16.28万吨，2024年我国数码喷印墨水的市场规模预测为 19.21万吨。 根据上述数据计算的国内数码喷印墨水市场占有率情况如下： | | | | 单位:万吨 ...

Investment Rating - The investment rating for the company is "Neutral" [2] Core Views - The company is a leading manufacturer of digital printing inks in China, benefiting from the increasing penetration of digital printing technology in the textile industry. From 2019 to 2023, the company's revenue and net profit grew at compound annual growth rates (CAGR) of 31.5% and 71.1%, respectively [4][13] - The company plans to invest CNY 220 million to establish a high-end digital equipment production base in Yiwu, which is expected to enhance its production capacity and product competitiveness [3][5] - The market share of the company's digital printing inks in the textile sector is approximately 10.66% in 2023, indicating its leading position domestically [4][35] Summary by Sections Company Overview - The company specializes in the research, production, and sales of digital printing inks, aligning with national energy-saving and environmental protection strategies. It is recognized as a "little giant" enterprise and a national high-tech enterprise [6] Financial Performance - The company's revenue increased from CNY 128 million in 2019 to CNY 384 million in 2023, with a CAGR of 31.5%. Net profit rose from CNY 11 million to CNY 93 million during the same period, with a CAGR of 71.1% [13][30] - The gross margin has remained stable between 42% and 45%, while the net margin has been between 20% and 25% since 2020 [15][16] Market Dynamics - The digital printing ink market in China has seen a significant increase in production, with a CAGR of 32% from 2015 to 2023. The penetration rate of digital printing in the textile sector rose from 2% to 18% during this period [4][29] - The company’s digital printing ink consumption in the textile sector is projected to reach 60,000 tons by 2025, reflecting a strong growth trajectory [30][38] Product Development - The company has continuously improved its product offerings, including the development of various types of inks such as reactive, acid, and disperse inks, which are crucial for digital printing technology [11][39] - The company has achieved a high capacity utilization rate, exceeding 100% in 2024, indicating strong demand for its products [38][40] Competitive Landscape - The company holds a significant market share in the domestic digital printing ink sector, with its sales volume increasing from 7,780 tons in 2021 to 12,128 tons in 2023, achieving a CAGR of 24.9% [34][35] - The digital printing ink market is expected to continue growing, driven by technological advancements and increasing demand for environmentally friendly printing solutions [22][30]