恒申集团参股的 浙江锦华新材料股份有限公司（以下简称"锦华新材"）近日 在北京证券交易所成功挂牌上市。这是恒申集团今年内投资培育的第 二家上市企业。 据了解，锦华新材自2007年成立以来，专注于酮肟系列精细化学品的研发、生产和销售，主要产品涵盖硅烷交联剂、羟胺盐、甲氧胺盐酸盐、乙醛 肟等，已与拜耳、万华化学等国内外知名企业建立长期稳定的合作关系。作为国内硅烷交联剂、羟胺盐细分领域的龙头企业，该公司首创"肟-肟基 硅烷-羟胺盐"绿色循环产业链，实现资源高效利用和生产过程清洁化的有机统一。此次上市，锦华新材募集资金净额达5.49亿元，将用于高端偶联 剂项目、中试项目及智能工厂建设等领域，进一步强化技术与产能优势。 恒申集团化工板块全球制造中心总经理谷俊表示："锦华新材成功上市，不仅是其自身发展史上的重要事件，更是恒申集团围绕产业链和领先的技 术优势，开展精准投资、推动产业协同战略的又一成功实践。"未来，恒申集团将继续以资本合作为纽带，依托自身产业链资源整合能力，助力锦 华新材充分发挥技术和管理优势，加快打造全球最大酮肟产业基地，共同推动精细化工产业高质量发展。 来源 / 恒申集团 编辑 / 王丹阳 审核/ 同黎娜 ...

锦华新材主要从事酮肟系列精细化学品的研发、生产和销售，主要产品包括硅烷交联剂、羟胺盐、甲氧胺盐酸盐、乙醛肟等。 中国经济网北京9月25日讯 今日，浙江锦华新材料股份有限公司（证券简称：锦华新材，证券代码：920015.BJ）在北交所上市。该股开盘报39.00 元，截至收盘报42.29元，涨幅133.00%，成交额11.32亿元，振幅71.46%，换手率91.23%，总市值55.26亿元。 本次发行前，巨化集团有限公司（以下简称"巨化集团"）直接持有公司80,837,240股股份，持股比例为82.49%，为公司控股股东。浙江省国资委直接 持有公司控股股东巨化集团76.49%股份，通过杭州钢铁集团有限公司间接持有巨化集团13.51%股权，共计持有巨化集团90.00%股权。公司的实际控制人 为浙江省国资委。 本次发行后，巨化集团持有公司的股份数量不变，为80,837,240股，占本次发行前公司总股本的82.49%，占本次发行后超额配售选择权行使前公司总 股本的61.87%，占本次发行后超额配售选择权全额行使后公司总股本的59.63%。报告期内及本次发行前后，公司控股股东、实际控制人未发生变动。 锦华新材于2025年 ...

Core Viewpoint - The recent listings of Jianfa Zhixin, United Power, and Jinhua New Materials on the stock exchanges highlight the growth and investment opportunities in the medical device and new energy sectors in China [1][2]. Group 1: Jianfa Zhixin - Jianfa Zhixin is a national high-value medical device distributor, primarily engaged in direct sales and distribution, providing centralized operation services for medical consumables to hospitals [1]. - The company has a market capitalization of 2.97 billion yuan, with an issuance price of 7.05 yuan per share and a P/E ratio of 13.29, significantly lower than the industry average of 25.73 [2]. - In 2024, Jianfa Zhixin's revenue is projected to be divided into three segments: direct sales (11.03 billion yuan, 61.69%), distribution (6.74 billion yuan, 37.68%), and services (112 million yuan, 0.63%) [4]. - The company plans to invest 1.4 billion yuan in information system upgrades, 1.04 billion yuan in centralized operation services, and 2.4 billion yuan to supplement working capital [3]. Group 2: United Power - United Power, spun off from the industrial automation giant Inovance Technology, specializes in new energy vehicle power systems, including electric drive and power supply systems [6][7]. - The company is a leader in the new energy vehicle power system sector, providing solutions to over 40 vehicle manufacturers and participating in the entire lifecycle of vehicle design and production [7]. - United Power's accounts receivable have increased significantly, with values of 1.85 billion yuan, 3.61 billion yuan, and 5.68 billion yuan from 2022 to 2024, representing 20.37%, 29.38%, and 31.45% of total assets respectively [8]. Group 3: Jinhua New Materials - Jinhua New Materials focuses on the research, production, and sales of ketoxime series fine chemicals, being a leader in the domestic silane crosslinking agent market with market shares of 27.85%, 31.60%, and 38.16% from 2022 to 2024 [9]. - The company's products are essential for various industries, including construction, energy, electronics, and new energy vehicles [9]. - Jinhua New Materials has received multiple national honors and has participated in the formulation of several industry standards [9].

来源|贝多商业&贝多财经 本次上市，锦华新材拟将募投资金用于新增硅烷偶联剂和功能性硅烷中间体、羟胺水溶液等新产品，主要应用于复合材料、塑料、涂料和金属表面处理及建 筑防水材料、橡胶、芯片、特种纤维等领域。 天眼查App信息显示，锦华新材成立于2007年12月，前称为衢州锦华化工有限公司。目前，该公司的注册资本额为9800万元，法定代表人为雷俊，主要股东 包括巨化集团、丽水锦泓企业管理合伙企业（有限合伙）等。 | 大原台 | | 都在用的商业查询工具 | 查公司 查老板 音关系 查风险 | | | | --- | --- | --- | --- | --- | --- | | | | 国家中小企业发展子基金旗下机构 | 浙江锦华新材料股份有限公司 | 8 天眼一下 | | | 基本信息 109 | | 上市信息 439 | 法律诉讼 经营风险3 | 经营信息 999+ | 公司发 | | 主要股东 2 ● 品股权结构 | | | | | | | 最新公示4 | 工商量记6 | MP 历史主要股东4 | Alp 股权变更历程8 2 | | 更新日期(2: | | 序号 | | | 股东名称 | 股份类型 | 持股 ...

据悉，锦华新材为国内硅烷交联剂、羟胺盐细分领域的龙头企业，主要从事酮肟系列精细化学品的研 发、生产和销售，主要产品包括硅烷交联剂、羟胺盐、甲氧胺盐酸盐、乙醛肟等。 锦华新材计划公开发行股份数量为3266.6667万股，发行后总股本为13066.6667万股。公司此次拟使用募 集资金5.93亿元，用于60千吨/年高端偶联剂项目、500吨/年JH-2中试项目和酮肟产业链智能工厂建设项 目。 中化新网讯 近日从锦华新材传出消息，9月16日公司将在北交所进行网上发行申购，发行价格为18.15 元/股，对应的发行市盈率为11.52倍。 ...

Company Overview - The company operates as a national high-value medical device distributor, primarily engaged in direct sales and distribution of medical devices, and provides centralized operation services for medical consumables to end hospitals [5]. Financial Performance - The company's revenue for 2022 was 118.82 billion, projected to increase to 154.43 billion in 2023 and 179.23 billion in 2024 [6]. - Net profit for 2022 was 1.89 billion, expected to rise to 2.27 billion in 2023 and 2.74 billion in 2024 [6]. - Cash flow from operating activities was -1.75 billion in 2022, improving to -1.05 billion in 2023, and projected to be 0.46 billion in 2024 [6]. Industry Context - The company plays a crucial role in the medical device supply chain, linking manufacturers, distributors, and healthcare institutions [5]. - The high-value medical device market is expanding, driven by improvements in national healthcare insurance coverage and increasing public demand for higher quality medical services [11]. SWOT Analysis - Strengths include a vertically integrated management system and a unified business system for medical device distribution, enhancing operational efficiency [11]. - Opportunities arise from the growing market for high-value medical devices and supportive government policies promoting industry development [11][12]. - Weaknesses include a gap in management and operational standards compared to international peers, as well as high operational costs and significant capital requirements [12].

Core Viewpoint - The article discusses the upcoming IPOs of two companies: Jianfa Zhixin and Jinhua New Materials, highlighting their business models, financial metrics, and market positions in their respective industries [1][10]. Group 1: Jianfa Zhixin (301584.SZ) - Jianfa Zhixin is a national high-value medical device distributor, primarily engaged in direct sales and distribution of medical devices, as well as providing centralized operation services for medical consumables [1][6]. - The company is controlled by Xiamen Jianfa Group, with a 51.02% stake held by Jianfa Medical, which is fully owned by Xiamen Jianfa Group [6]. - For 2024, Jianfa Zhixin's revenue is projected to be divided into three segments: direct sales (110.32 billion, 61.69%), distribution (67.38 billion, 37.68%), and service (1.12 billion, 0.63%) [6]. - The company serves over 3,300 medical institutions across 31 provinces, with major clients including Beijing Anzhen Hospital and Jilin University First Hospital [6]. - Jianfa Zhixin's fundraising will focus on upgrading information systems (1.4 billion), centralized operation services (1.04 billion), and working capital (2.4 billion) [5]. Group 2: Jinhua New Materials (920015.BJ) - Jinhua New Materials specializes in the research, production, and sales of ketoxime series fine chemicals, being a leading player in the domestic silane crosslinker segment [10][11]. - The company plans to invest in several projects, including a high-end coupling agent project (5.07 billion) and a ketone-based smart factory construction project (0.61 billion) [10]. - Jinhua New Materials holds a market share of 27.85%, 31.60%, and 38.16% in silane crosslinkers for the years 2022, 2023, and 2024, respectively [11]. - The company has received multiple honors, including being recognized as a "Little Giant" enterprise and a national high-tech enterprise [11]. - Jinhua New Materials faces potential risks from cyclical fluctuations in downstream industries, particularly in real estate and photovoltaic sectors, which may impact demand for its products [12].

Core Viewpoint - Jinhua New Materials (920015.BJ) has initiated its subscription on September 16, with an issue price of 18.15 CNY per share and a maximum subscription limit of 1.5516 million shares, reflecting a price-to-earnings ratio of 11.52 times. The company specializes in the research, production, and sales of ketoxime series fine chemicals, with applications across various industries including construction materials, energy, electronics, new energy vehicles, pesticides, pharmaceuticals, metal extraction agents, ion exchange resins, and environmentally friendly dyes [1]. Company Overview - Jinhua New Materials focuses on the development of silane crosslinking agents, hydroxylamine salts, methoxyamine hydrochloride, and acetaldehyde oxime, which are essential for producing organic silicon sealants and adhesives, widely used in strategic emerging industries [1][2]. - The company has established stable partnerships with multinational corporations such as Bayer and Braskem, as well as listed companies like Wanhua Chemical and Xin'an Chemical [2]. Market Position - The domestic market share of Jinhua New Materials for silane crosslinking agents is projected to increase from 27.85% in 2022 to 38.16% in 2024. For hydroxylamine salts, the market share is expected to shift from 34.86% in 2022 to 42.37% in 2024 [2]. Financial Performance - The company reported revenues of approximately 994 million CNY, 1.115 billion CNY, and 1.239 billion CNY for the years 2022, 2023, and 2024, respectively. Net profits for the same years were approximately 79.59 million CNY, 173 million CNY, and 211 million CNY [3][4]. - Total assets are projected to grow from approximately 859.68 million CNY in 2022 to 1.322 billion CNY in 2024, with total equity increasing from approximately 477.59 million CNY to 842.66 million CNY over the same period [4]. Investment Projects - The net proceeds from the current issuance will be allocated to several projects, including a high-end coupling agent project with an investment of approximately 50.69 million CNY, a pilot project with an investment of approximately 2.3 million CNY, and an intelligent factory construction project for the ketoxime industry chain with an investment of approximately 6.31 million CNY [3]. Profitability Metrics - The gross profit margin is expected to improve from 17.72% in 2022 to 27.94% in 2024. The net profit margin is projected to increase from 8.01% in 2022 to 17.00% in 2024 [5]. - The company’s basic earnings per share are forecasted to rise from 0.8291 CNY in 2022 to 2.1525 CNY in 2024 [5].

Core Viewpoint - Jinhua New Materials (920015.BJ) has initiated its subscription with an issue price of 18.15 CNY per share and a price-to-earnings ratio of 11.52, focusing on the development, production, and sales of ketoxime series fine chemicals, with significant applications across various industries [1][2]. Group 1: Company Overview - Jinhua New Materials specializes in ketoxime series fine chemicals, including silane crosslinking agents, hydroxylamine salts, methoxyamine hydrochloride, and acetaldehyde oxime, which are used in construction materials, energy, electronics, new energy vehicles, pesticides, pharmaceuticals, metal extractants, ion exchange resins, and environmentally friendly dyes [1]. - The company's silane crosslinking agents are key raw materials for producing silicone sealants and adhesives, widely used in strategic emerging industries, particularly in new materials [1][2]. Group 2: Market Position and Growth - The domestic market share of Jinhua New Materials for silane crosslinking agents is projected to increase from 27.85% in 2022 to 38.16% in 2024, while the market share for hydroxylamine salts is expected to rise from 34.86% in 2022 to 42.37% in 2024 [2]. - The company has established stable partnerships with major multinational corporations such as Bayer and Braskem, as well as listed companies like Wanhua Chemical and Xinan Co., Ltd. [2]. Group 3: Financial Performance - Jinhua New Materials reported revenues of approximately 994 million CNY in 2022, 1.115 billion CNY in 2023, and projected 1.239 billion CNY in 2024, with net profits of 79.59 million CNY, 173 million CNY, and 211 million CNY respectively [3][4]. - The total assets of the company increased from approximately 859.68 million CNY in 2022 to about 1.322 billion CNY in 2024, with total equity rising from 477.59 million CNY to 842.66 million CNY during the same period [4]. - The gross profit margin improved from 17.72% in 2022 to 27.94% in 2024, indicating enhanced profitability [5].

Group 1: Zhejiang Jinhua New Materials Co., Ltd. - Zhejiang Jinhua New Materials Co., Ltd. specializes in the research, production, and sales of ketoxime series fine chemicals, with key products including silane crosslinking agents, hydroxylamine salts, methoxyamine hydrochloride, and acetaldehyde oxime [3] - The company is a leading player in the domestic market for silane crosslinking agents and hydroxylamine salts, with applications in construction materials, energy, electronics, and new energy vehicles [3] Group 2: Daosheng Tianhe Materials Technology (Shanghai) Co., Ltd. - Daosheng Tianhe is a national high-tech enterprise focused on the research, production, and sales of new materials, particularly high-performance thermosetting resin materials [9] - The company is a leader in the green new energy sector, with its epoxy resin for wind turbine blades being the largest production scale globally, and it has ranked first in sales for three consecutive years from 2022 to 2024 [9] Group 3: Marco Polo Holdings Co., Ltd. - Marco Polo is one of the largest manufacturers and sellers of building ceramics in China, with a focus on developing and producing glazed and unglazed tiles [12] - The company operates five production bases in China and the United States, and its market share has been relatively low, with 2022-2024 market shares of 2.62%, 3.23%, and 3.27% respectively [12] - The building ceramics industry is facing intensified competition, with a decrease in the number of enterprises and a significant drop in tile production from 84.74 billion square meters in 2020 to 59.1 billion square meters in 2024, a decline of 30.26% [12] - In the first half of 2025, the company's revenue decreased by 11.82% year-on-year, with net profit and net profit excluding non-recurring gains and losses also showing declines of -7.90% and -6.80% respectively, attributed to increased market competition and falling sales prices [13]