High-Performance Specialty Materials Supplier Xinguangyi (301687.SZ) Plans IPO on ChiNext

Stock News12-11

Xinguangyi (301687.SZ) has released its prospectus for an initial public offering (IPO) on the ChiNext board, planning to issue 36.716 million shares, representing 25.00% of its post-issuance total share capital. All shares will be newly issued, with no existing shareholders participating in the offering. The preliminary price inquiry is scheduled for December 16, 2025, and the subscription date is set for December 22, 2025.

The initial strategic placement will comprise 7,343,200 shares, accounting for approximately 20% of the total offering. Within this allocation: - A dedicated asset management plan for senior executives and core employees is expected to subscribe to no more than RMB 59 million, capped at 10.00% (3,671,600 shares) of the total issuance. - The underwriter’s affiliate will participate with an estimated 5.00% (1,835,800 shares) of the offering. - Other strategic investors may subscribe up to RMB 63 million. Final strategic placement ratios and amounts will be determined post-pricing, with any unallocated shares redirected to the offline offering.

Xinguangyi is a high-tech enterprise specializing in R&D, production, and sales of high-performance specialty functional materials. Its core products include anti-bleeding adhesive films and high-tolerance specialty films. The anti-bleeding films are critical for flexible printed circuit board manufacturing, while high-tolerance films are adhesive materials designed for extreme environments involving high cleanliness, temperature, humidity, strong acids/alkalis, or external stress.

Beyond these, the company also develops and produces electronic component materials, modified materials, optical adhesive films, new-energy lithium battery materials, and photovoltaic films. During the reporting periods, its annual operating revenues were RMB 455 million, RMB 516 million, RMB 657 million, and RMB 313 million, with net profits of RMB 81.51 million, RMB 83.28 million, RMB 115.70 million, and RMB 59.21 million, respectively.

Proceeds from the IPO, after deducting issuance costs, will fund a functional materials project, with RMB 638 million earmarked for this initiative.

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