Company Overview - Jiangsu Suxun New Materials Technology Co., Ltd. is located in Suqian, Jiangsu Province, focusing on the research, production, and sales of metal packaging materials, recognized as a high-tech enterprise and a "little giant" by the Ministry of Industry and Information Technology [2] - The company plans to raise 474 million yuan through its IPO application accepted by the Beijing Stock Exchange [1] Financial Performance - From 2022 to the first half of 2025, the company's operating revenue was 2.239 billion yuan, 2.415 billion yuan, 2.982 billion yuan, and 1.556 billion yuan respectively, while net profits were 269 million yuan, 146 million yuan, 218 million yuan, and 143 million yuan [3] - As of June 30, 2025, total assets amounted to approximately 1.978 billion yuan, with total equity of about 1.072 billion yuan [4][5] Revenue Breakdown - For the first half of 2025, the revenue breakdown by product was as follows: - Chrome-plated sheets: 53.54% - Tin-plated sheets: 29.56% - Stainless steel sheets: 5.99% - Steel-plastic composite sheets: 6.23% - Other products: 4.68% [6][7] Profitability Metrics - The gross profit margin for the first half of 2025 was 14.69%, with specific margins for products as follows: - Chrome-plated sheets: 15.83% - Tin-plated sheets: 12.95% - Stainless steel sheets: 22.04% - Steel-plastic composite sheets: 19.86% - Other products: -3.63% [8] Customer and Supplier Relationships - The top five customers accounted for 29.93% of total sales in 2022, with the largest customer contributing 10.85% [10] - The top five suppliers represented 95.33% of total outsourcing processing costs in the first half of 2025, with the largest supplier accounting for 27.56% [11][12] Competitive Landscape - The company competes with several notable firms in the metal packaging materials sector, with a focus on domestic and international markets, particularly in East Asia and Southeast Asia [13][14] - Suxun New Materials has established itself as a significant player in the industry, with a strong emphasis on product quality and customer relationships [13]

zhuhaibin@kysec.cn 证书编号：S0790522080007 北交所上市"后备军"217 家，分布在高端装备、TMT 等新质生产力行业中 截至 2026 年 1 月 20 日，北交所已有 217 家公司获受理，待上会企业 167 家，覆 盖高端装备（71 家）、TMT（29 家）、化工新材料（35 家）、消费（21 家）、生 物医药（13 家）等多元细分领域。受理和辅导中公司中，包含了一些新质生产 力公司，我们从中首选专精特新、单项冠军企业、"独角兽"企业。同时，我们 也着重关注氢能源、商业航天、低空经济等行业。 后备军筛选系列已 29 期，筛选出一批已经上市的新质生产力公司 北交所策略专题报告 2026 年 01 月 26 日 优中选优，布局营收超 10 亿、利润过亿的成长领军者华晟智能等 ——北交所策略专题报告 北交所研究团队 在 2025 年北交所上市的 26 家公司中，本系列报告我们优选出星图测控、开发科 技、天工股份、广信科技、酉立智能、志高机械、宏远股份、能之光、三协电 机、世昌股份、锦华新材、江天科技等。其余优选公司中已过会公司包括：英氏 控股、雅图高新、金钛股份、新恒泰、原力数 ...

Core Viewpoint - Jiangsu Suxun New Materials Technology Co., Ltd. has completed its listing guidance work, with Open Source Securities as the guiding institution, indicating the company's readiness for public offering and growth potential in the new materials sector [2] Group 1: Company Overview - Suxun New Materials was established in April 2009 and focuses on the research, production, and sales of various types of steel thin plates and special steel wires [2] - The company is recognized as a high-tech enterprise and a "little giant" enterprise by the Ministry of Industry and Information Technology, specializing in products such as chrome-plated thin plates, tin-plated thin plates, stainless steel thin plates, and food-grade thermal laminated iron [2] - Suxun New Materials is the first domestic manufacturer to provide food-grade stainless steel packaging materials on a large scale, maintaining the highest market share in chrome-plated thin steel belt products from 2020 to 2024 [2] Group 2: Financial Performance - In the first half of 2025, Suxun New Materials achieved operating revenue of 1.554 billion yuan, representing a year-on-year increase of 8.24% [3][4] - The net profit attributable to the parent company was 141 million yuan, showing a significant growth of 35.63% compared to the previous year [3][4] - As of June 30, 2025, the company's total assets amounted to 1.981 billion yuan, with shareholders' equity of 1.068 billion yuan and a debt-to-asset ratio of 45.86% [3] Group 3: Profitability Metrics - The gross profit margin for the reporting period was 13.80%, an increase from 10.14% in the previous year [4] - The weighted average return on equity was 13.51%, up from 12.87% year-on-year [4] - Basic earnings per share reached 2.76 yuan, reflecting a 35.63% increase compared to the same period last year [4] Group 4: Shareholding Structure - Li Longlai, the chairman and general manager, holds 20.0396 million shares, accounting for 39.19% of the total shares [3] - Li Kang, the vice general manager and Li Longlai's son, holds 11.725 million shares, representing 22.93% of the total shares [3] - Huang Xueya, Li Longlai's wife and a board member, holds 4.777 million shares, making up 9.34% of the total shares [3]