Core Viewpoint - Ningbo Changya New Materials Technology Co., Ltd. (Changya Co., Ltd.) has submitted an application for the first public offering of stocks and listing guidance, which was accepted by the Ningbo Securities Regulatory Bureau on December 29, 2025 [1]. Company Basic Information - Changya Co., Ltd. was established on January 14, 2013, with a registered capital of 111.34 million yuan. The legal representative is Xu Jianhai, and the company is located at 766 Dongsheng Road, Jiao Chuan Street, Zhenhai District, Ningbo, Zhejiang Province [2]. - The controlling shareholder is Ningbo Changya Asset Holding Co., Ltd., which directly holds 49.54% of the shares [2]. - The company specializes in the research, production, and sales of plastic dining utensils, biodegradable dining utensils, and paper dining utensils, primarily producing paper and PLA disposable tableware [4]. IPO Application Progress - Changya Co., Ltd. previously submitted an IPO application to the Shenzhen Stock Exchange in June 2023. However, in May 2024, the company decided to withdraw the application due to changes in the capital market environment and its operational situation, leading to the termination of the project in June 2024 [3][4]. Financial Performance - The company's revenue for the years 2020, 2021, 2022, and the first nine months of 2023 were 512.15 million yuan, 623.03 million yuan, 918.64 million yuan, and 536.39 million yuan, respectively. The net profit attributable to the parent company for the same periods was 73.04 million yuan, 53.49 million yuan, 124.67 million yuan, and 72.07 million yuan [6]. - The total assets as of September 30, 2023, were 1,013.60 million yuan, with equity attributable to the parent company at 607.29 million yuan. The asset-liability ratio was 42.50% [7]. Client Base - The main customer groups include chain supermarkets, disposable material suppliers, and distributors of food packaging products. Notable clients include Dollar General, KFC, Burger King, Panda Express, and others [8][10]. - The company's products are primarily exported, with overseas sales accounting for 95.80%, 95.96%, 98.25%, and 96.95% of the main business revenue in the respective years [11].

Core Viewpoint - Ningbo Changya New Materials Technology Co., Ltd. has submitted an application for the first public offering of stocks and listing, which has been accepted by the Ningbo Securities Regulatory Bureau on December 29, 2025 [1][2]. Company Overview - Established on January 14, 2013, the company has a registered capital of 111.34 million yuan and is located in Ningbo, Zhejiang Province [3]. - The controlling shareholder is Ningbo Changya Asset Holding Co., Ltd., which holds 49.54% of the shares [3]. - The company specializes in the research, production, and sales of plastic dining utensils, biodegradable dining utensils, and paper dining utensils [7]. IPO History - The company previously submitted an IPO application to the Shenzhen Stock Exchange in June 2023 but decided to withdraw the application in May 2024 due to changes in market conditions and company operations, leading to the termination of the project in June 2024 [5][6]. Financial Performance - The company's revenue for the years 2020, 2021, 2022, and the first nine months of 2023 were 512.15 million yuan, 623.03 million yuan, 918.64 million yuan, and 536.39 million yuan, respectively [8]. - The net profit attributable to the parent company for the same periods was 73.04 million yuan, 53.49 million yuan, 124.67 million yuan, and 72.07 million yuan [8]. - The total assets as of September 30, 2023, were 1.01 billion yuan, with a debt-to-asset ratio of 42.50% [9]. Investment Projects - The previous IPO fundraising projects included the construction of biodegradable new material products and high-end plastic products, a paper product expansion project in Vietnam, and an R&D center upgrade project, with a total fundraising target of 723 million yuan [8]. Client Base - The company's main customers include major chain supermarkets and food packaging distributors, with notable clients such as Dollar General, KFC, and Burger King [10]. - The company has a strong export focus, with overseas sales accounting for approximately 96.95% of its main business revenue in recent periods, primarily targeting the U.S. market [12].