On December 29, the initial public offering application of Jiangsu Qingquan Chemical Co., Ltd. (Qingquan Co) for the Shenzhen Stock Exchange's ChiNext board has been accepted. Guosen Securities is the sponsor, and the company plans to raise 492.3 million yuan.
According to the prospectus, Qingquan Co is a national-level specialized, sophisticated, and distinctive "little giant" enterprise that professionally engages in the R&D, production, and sales of special fine chemicals and special polymer new materials. The company focuses on the preparation of polymer new materials and monomers with high transparency, high weather resistance, and high-temperature resistance, as well as the comprehensive utilization and development of non-grain biomass-based material furfural.
The company has established four major product systems covering new material monomers, green solvents, pharmaceutical and pesticide intermediates, and special polymer new materials. These products are widely used in end markets such as aerospace, wind power, automotive, electronics and electrical, medical devices, chemicals, pharmaceuticals, and pesticides.
Testing by third-party inspection agencies indicates that the performance of the company's core products—the new material monomer MACM and the green solvent 2-MeTHF—as well as key promotional products like the polyimide OPI series and the new material monomer CHDM, has reached a relatively high industry standard and is comparable to major industry competitors.
The company's core products hold a strong competitive position and high industry status within their specific market segments. Based on calculations using a relevant report released by iiMedia Research and the company's sales data, in 2024, Qingquan Co's global market share for its MACM product was approximately 28%, and its global market share for the 2-MeTHF product was approximately 19%.
The net proceeds from this issuance and listing, after deducting issuance expenses, will be invested in projects related to the company's main business.
Financially, for the years 2022, 2023, 2024, and the period from January to June 2025, Qingquan Co reported operating revenues of approximately 687 million yuan, 713 million yuan, 797 million yuan, and 396 million yuan, respectively. For the same periods, the company's net profits were 52.8297 million yuan, 81.8236 million yuan, 98.6632 million yuan, and 57.9112 million yuan, respectively.
Comments