证券日报网讯 1月23日，聚赛龙在互动平台回答投资者提问时表示，公司自成立以来，始终专注于改性 塑料领域，主要产品覆盖PP、PC/ABS、PA、PBT、ABS等，产品广泛应用于家用电器、汽车工业、电 子通信、医护用品等多个领域。 （编辑 袁冠琳） ...

Core Viewpoint - Guangdong Zhongsu New Materials Co., Ltd. (Zhongsu Co.) has suspended its IPO application due to the expiration of the financial data in the application documents, requiring supplementary submissions [1] Company Overview - Zhongsu Co. specializes in the research, production, and sales of modified engineering plastics, with applications in consumer electronics, energy storage, automotive, and home appliances [1] - The company focuses on high-value-added modified engineering plastics to meet the personalized material needs of downstream products, guided by a product differentiation strategy [1] Product Details - Key products include high-performance engineering materials such as modified PC, PC/ABS, PA, PPA, PBT, and PET, developed to meet specific customer requirements like electrical connectivity, low dielectric properties, high-temperature resistance, and waterproof heat dissipation [1] - The company has developed specialized functional materials, including: - Laser Direct Structuring (LDS) materials for environmentally friendly metal plating processes [1] - Nano Injection Molding (NMT) materials for precision components in consumer electronics [1] - High-temperature nylon materials for applications in electronics and small appliances [1] Financial Performance - In the fiscal years 2022, 2023, 2024, and the first quarter of 2025, Zhongsu Co. reported revenues of approximately CNY 493 million, CNY 537 million, CNY 700 million, and CNY 152 million respectively [1] - Net profits for the same periods were CNY 51.71 million, CNY 78.99 million, approximately CNY 100 million, and CNY 25.70 million respectively [1][2] - The company achieved a gross profit margin of 30.63% in 2024, up from 26.00% in 2023 [2]

Core Viewpoint - Guangdong Zhongsu New Materials Co., Ltd. has submitted an IPO application to list on the ChiNext board, focusing on the research, production, and sales of modified engineering plastics [2] Group 1: Company Overview - Zhongsu's main business includes the development of modified engineering plastics, with core products such as modified PC, PC/ABS, PA, PPA, PBT, and PET [2] - The company has developed specialized functional materials like laser direct structuring (LDS) materials and nano-injection molding (NMT) materials to meet specific downstream industry needs [2] - Products are widely used in consumer electronics, energy storage, automotive, and home appliances, covering end products like smartphones, wearable devices, new energy vehicles, and energy storage power supplies [2] Group 2: Financial Performance - From 2022 to 2024, the company achieved operating revenues of CNY 493 million, CNY 537 million, and CNY 700 million, with net profits attributable to shareholders of CNY 48.76 million, CNY 80.84 million, and CNY 92.57 million, respectively [3] - The compound annual growth rates for revenue and net profit (excluding non-recurring gains and losses) over the last three years were 19.11% and 37.79% [3] - The gross profit margins for the main business from 2022 to 2024 were 26%, 31.97%, and 31.03%, consistently higher than the industry average [3] Group 3: Shareholding Structure - The shareholding concentration is high, with Zhu Huaicai and Deng Lianfang controlling 73.26% of the shares [3] - Zhu Huaicai serves as the chairman and general manager, while Zhu Huaiyu, his brother, holds 6.09% of the shares and is also a director [3] Group 4: IPO Details - The company plans to publicly issue no more than 12.33 million shares, aiming to raise CNY 645.49 million, with all proceeds allocated to projects including the construction of a smart production base for high-performance engineering materials [4] - The funding will also support the expansion of the Jiangxi Zhongsu production base and the establishment of a new materials engineering technology research center, with CNY 103 million allocated for working capital [4] - The company intends to enhance production scale, improve intelligent production levels, and strengthen R&D capabilities through the raised funds [4]

Core Viewpoint - Guangdong Zhongsu New Materials Co., Ltd. (Zhongsu Co.) is advancing its IPO process on the ChiNext board, marking a significant step in its listing journey as it enters the inquiry stage with the exchange [1] Group 1: Company Performance and Market Position - Zhongsu Co. has demonstrated impressive performance, with projected revenue growth rates of 52.63% and 26.27% for 2023 and 2024, respectively, driven by strong domestic demand and global market expansion in the modified plastics industry [1] - The production of modified plastics in China has increased from 15.63 million tons in 2016 to 27.35 million tons in 2023, reflecting a compound annual growth rate (CAGR) of 8.32%, positioning China as the largest consumer market for plastic materials [1] - The company specializes in the research, production, and sales of modified engineering plastics, with core products including modified PC, PC/ABS, and PA, which are widely used in consumer electronics, energy storage, automotive, and home appliances [2] Group 2: Technological and Competitive Landscape - Zhongsu Co. has entered the supply chains of major industry leaders such as Samsung, Huawei, Xiaomi, and BYD, indicating its strong market presence and technological capabilities [2][6] - The company is recognized as a "little giant" enterprise by the Ministry of Industry and Information Technology, and it was included in the first batch of key "little giant" enterprises supported by the central government in 2025, highlighting its technical strength and industry status [2] Group 3: Financial and Operational Challenges - Zhongsu Co. plans to raise 645 million yuan through its IPO to expand production capacity and enhance technological capabilities, addressing competitive pressures and cash flow challenges [4] - The company faces a long sales collection cycle, with accounts receivable exceeding 160 million yuan at the end of each reporting period, representing up to 40.40% of total assets, which may necessitate financing to alleviate cash flow pressures [4] - The company’s R&D expense ratio from 2022 to 2024 is below the industry average, indicating a gap in funding and customer coverage compared to leading competitors [4] Group 4: Future Development and R&D Initiatives - Post-IPO, Zhongsu Co. aims to undertake innovative R&D projects, including bio-based long-chain nylon, halogen-free flame-retardant high-temperature nylon, and high-performance transparent silicone copolymer materials [5] - The company was established in September 2009 and is located in Dongguan, Guangdong, focusing on modified engineering plastics, with a significant portion of its revenue derived from the consumer electronics sector [5]

Core Insights - BASF has signed a strategic cooperation agreement with Jiangsu Niutai Technology Group to integrate its advanced materials expertise with Niutai's product development and manufacturing capabilities, focusing on innovation in materials for the robotics and automotive industries [2] - This partnership aims to accelerate the application of innovative material solutions in the fields of robotics and automotive components [2] - The collaboration is part of BASF's broader strategy to establish a comprehensive layout in the robotics industry, having signed multiple agreements since August [3] Company Overview - Jiangsu Niutai Technology Group, established in August 2010, is recognized as a national high-tech enterprise and specializes in high-performance precision injection and aluminum casting components for automotive lightweighting and energy-saving needs [2] - The company went public on the ChiNext board in February 2022, with a projected sales output of 975 million yuan in 2024 [2] Industry Trends - The global industrial robot installation is expected to remain stable in 2024, while the Chinese market is projected to grow by 7%, driven by strong policy support and market demand for smart robotics [3] - Morgan Stanley forecasts that the global humanoid robot annual revenue will exceed $5 trillion by 2050, indicating a significant growth potential for the robotics industry [3] Material Applications - The automotive industry has seen a surge in demand for lightweight and sustainable materials, with over 50% of the supply chain resources shared between the automotive and robotics sectors, particularly in core areas like sensors, chips, and power systems [4] - Various polymer materials are being utilized in robotics, including PBT+glass fiber for radar shells, LCP for connectors, and TPU for electronic skin, highlighting the diverse applications of advanced materials in this field [4]

Core Viewpoint - Guangdong Zhongsu New Materials Co., Ltd. has officially announced its IPO project on the ChiNext board, aiming to raise 645 million yuan for various high-performance engineering materials projects and R&D initiatives [2][3]. Group 1: IPO and Fundraising - The company plans to use the raised funds for the construction of a smart production base for high-performance engineering materials, expansion of the Jiangxi production base, and establishment of a new materials engineering technology research center [2][3]. - The total investment for these projects is approximately 698.11 million yuan, with 645.49 million yuan coming from the IPO proceeds [3]. Group 2: Business Overview - Established in September 2009, Zhongsu specializes in modified engineering plastics, recognized as a national-level "little giant" enterprise, focusing on R&D, production, and sales [3]. - The company's core products include modified PC, PC/ABS, PA, PPA, PBT, and PET, catering to specific customer needs in various industries such as consumer electronics, energy storage, and automotive [4][5]. Group 3: Financial Performance - From 2022 to Q1 2025, the company's main business revenue showed a steady increase, with figures of 493 million yuan in 2022, 528 million yuan in 2023, 689 million yuan in 2024, and 151 million yuan in Q1 2025 [5][6]. - Net profit grew from 51.71 million yuan in 2022 to 100 million yuan in 2024, indicating strong profitability and growth potential [5][6]. Group 4: Product and Market Dynamics - The gross margin for high-performance engineering materials was 27% in 2024, while for specialty functional materials, it reached 45.54%, highlighting the latter's increasing importance in the product mix [7]. - The company has established partnerships with major clients in the consumer electronics sector, with over 70% of its revenue coming from this segment, including companies like BYD, Huawei, and Xiaomi [5][6]. Group 5: Industry Trends - The modified plastics industry is experiencing growth, with over 25 listed companies in the A-share market as of May 2025, driven by rising demand in automotive and other sectors [7]. - The industry is undergoing a transformation, with leading companies focusing on R&D investment, capacity expansion, and vertical integration to build competitive advantages [7][8].

Core Viewpoint - Zhongsu Co., Ltd. has initiated its IPO process on the ChiNext board, aiming to raise 645 million yuan for various projects and working capital [1][2]. Group 1: Company Overview - Zhongsu Co., Ltd. specializes in the research, production, and sales of modified engineering plastics, with applications in consumer electronics, energy storage, automotive, and home appliances [1][2]. - The company’s core products include high-performance engineering materials such as modified PC, PC/ABS, PA, PPA, PBT, and PET, developed to meet specific customer needs [1][2]. Group 2: Financial Performance - From 2022 to Q1 2025, Zhongsu Co., Ltd. reported revenues of 493 million yuan, 537 million yuan, 700 million yuan, and 152 million yuan, with net profits of 48.76 million yuan, 79.24 million yuan, 92.57 million yuan, and 24.24 million yuan respectively [2]. - The company has achieved a compound annual growth rate of 19.11% in revenue and 37.79% in net profit over the last three years [2]. Group 3: IPO Fund Utilization - The IPO proceeds will be allocated to the construction of a smart production base for high-performance engineering materials, expansion of the Jiangxi production base, and establishment of a new materials engineering research center [2][3]. - The smart production base aims to enhance market responsiveness and strengthen the company's competitive position [3]. - The expansion of the Jiangxi production base will significantly increase production capacity and improve supply capabilities in the East China region [3].

Group 1: Company Listings and Filings - Five companies submitted listing counseling reports for approval in the domestic market from September 15 to September 21 [2] - Benyuan Quantum Computing Technology (Hefei) Co., Ltd. focuses on quantum computing and has received a total of 9 rounds of financing since 2017, with a valuation of 7.1 billion [3][4] - Beijing Weina Star Technology Co., Ltd. specializes in satellite manufacturing and has successfully launched 27 satellites, with a valuation of 1 billion [5][6] - Shenzhen Car Cool Technology Co., Ltd. is a multifunctional automotive emergency power supply provider and has completed 5 rounds of financing since 2021 [7][9] - Qingdao Haishenlin Hair Products Group Co., Ltd. focuses on high-end wig production and has completed 4 rounds of financing since 2021 [10][11] - Zhejiang Weibang Sports Technology Group Co., Ltd. specializes in outdoor sports products and has submitted a listing counseling report [12] Group 2: Industry Trends - The commercial aerospace sector is experiencing a listing boom, with several unicorn companies entering the counseling or application stages for public offerings [7] - Three companies passed the counseling acceptance from September 11 to September 21, indicating a positive trend in the market [15][16] - Five companies had their listing counseling terminated during the same period, reflecting the dynamic nature of the market [22] Group 3: Company Profiles and Financing - Anshi Biotechnology Co., Ltd. focuses on targeted cancer drug development and has completed 4 rounds of financing since 2021 [16][17] - Guangdong Zhongsu New Materials Co., Ltd. specializes in modified engineering plastics and has undergone 2 rounds of financing in 2022 [18][19] - Zhuzhou Times Huaxin New Materials Technology Co., Ltd. is involved in the research and production of polymer materials and has completed 6 rounds of financing since 2019 [20][21]

Core Viewpoint - The company focuses on modified plastics, with key products including PP, PC/ABS, PA, PBT, and ABS, and has made progress in research on modified PEEK composite materials, holding relevant patents [1] Group 1: Company Focus and Products - The company specializes in the field of modified plastics [1] - Main products cover PP, PC/ABS, PA, PBT, and ABS [1] - Research on modified PEEK composite materials has yielded some results, and the company holds relevant patents [1] Group 2: Market Applications and Strategy - Lightweight materials are primarily applied in the automotive sector [1] - The company closely monitors developments in cutting-edge technologies and plans to adjust its technology and product layout according to market demand changes [1]

Group 1 - The company focuses on modified plastics, with main products including PP, PC/ABS, PA, PBT, and ABS [1] - The company has made progress in research on modified PEEK composite materials and holds relevant patents, but currently does not have products in mass production or sales [1] - The lightweight materials produced by the company are primarily used in the automotive sector [1] Group 2 - There is investor interest regarding the company's technology reserves in PEEK materials, which are gaining popularity in various applications, including humanoid robots [3] - An analysis suggests that the company has multiple layouts in the field of lightweight materials for humanoid robots, covering product development, technological innovation, market application, and capacity layout [3]