Guangzhou Huigu New Materials Technology Co., Ltd. (Huigu New Materials) has successfully passed the listing committee review for its ChiNext IPO on December 9. The IPO, sponsored by
According to the prospectus, Huigu New Materials is a platform-based functional coating materials enterprise driven by independent R&D, specializing in polymer materials. Its product portfolio primarily includes functional resins and functional coating materials. The company aspires to become a global leader in technological innovation for functional materials.
Core operations involve the R&D, production, and sales of functional resins and coating materials. With molecular structure design as its technological foundation, the company focuses on key R&D and industrial applications of functional resins, establishing dual technology platforms for functional resins and coating materials to build competitive barriers.
Functional resins serve as critical materials for coating products, determining their fundamental properties, with high technical and process thresholds in design and scaled production. Functional coating materials, applied to substrate surfaces, impart specific functionalities and are widely used in home appliances, packaging, new energy, electronics, and other sectors. The company primarily sells functional coating materials.
Leveraging integrated collaboration between its resin and coating material platforms, Huigu New Materials has developed a diversified coating system featuring optical modulation, conductive/thermal properties, mechanical reinforcement, and corrosion/weather resistance. It has established a "1+1+N" industrial layout targeting four major downstream applications: home appliances, packaging, new energy, and electronics.
The company holds strong market positions in its segments, with domestic market shares exceeding 60% in heat exchanger energy-saving coatings and 30% in metal packaging lid coatings. Proceeds from the IPO will be fully allocated to core business development, prioritized as follows:
Financially, the company reported revenues of approximately 664 million yuan, 717 million yuan, 817 million yuan, and 496 million yuan for 2022, 2023, 2024, and the first half of 2025, respectively. Net profits during the same periods were approximately 25.95 million yuan, 106 million yuan, 146 million yuan, and 107 million yuan.
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