Huigu New Materials (301683.SZ) has released its prospectus for an initial public offering on the ChiNext Board. The company plans to issue 15.7791 million new shares, representing 25.00% of its total share capital post-issuance. The offering consists entirely of new shares, with no secondary sale by existing shareholders. The preliminary price inquiry is scheduled for March 16, 2026, and the subscription date is set for March 20, 2026.
The initial strategic placement will involve 2,366,865 shares, accounting for approximately 15% of the total offering. Within this, a special asset management plan established for the company's senior management and core employees is expected to subscribe for no more than 10.00% of the offering, or 1,577,910 shares, with a maximum subscription amount of 55.104 million yuan. The underwriter's related subsidiary is expected to follow with an investment representing 5.00% of the offering, or 788,955 shares.
Huigu New Materials is a platform-based enterprise focused on the polymer materials sector, driven by independent research and development. The company is dedicated to becoming a global leader in technological innovation for functional materials. Its primary business involves the research, development, production, and sales of functional resins and functional coating materials. Starting from molecular structure design as its technological foundation, the company has deeply cultivated the key technology R&D and industrial application of core functional resins, establishing two major technology platforms for functional resins and functional coating materials to build a core competitive barrier.
Leveraging the integrated collaboration of its dual technology platforms for functional resins and coating materials, and closely aligning with the development trajectory of the national economy and key material demand maps, Huigu has successfully developed a coating material system with multiple characteristics such as optical regulation, electrical and thermal conductivity, mechanical enhancement, and corrosion and weather resistance. It has formed a "1+1+N" industrial layout system targeting four major downstream application scenarios: home appliances, packaging, new energy, and electronics. The company is committed to the sustainable development of society and the industrial chain, continuously cultivating new quality productive forces.
The company reported net profits attributable to shareholders of the parent company of 108.563 million yuan in 2023 and 145.7866 million yuan in 2024. After deducting non-recurring gains and losses, the net profits were 96.0114 million yuan and 141.7126 million yuan for 2023 and 2024, respectively.
The proceeds from the offering will be entirely used for the development of the company's main business. After deducting issuance expenses, the funds will be allocated to the company's primary operations in order of priority. Key projects include the expansion project for an annual output of 130,000 tons of environmentally friendly coatings and resins at Qingyuan Huigu New Material Technology Co., Ltd., the Qingyuan Huigu New Materials R&D Center project, the technological transformation project for Huigu New Materials' production lines, and supplementing working capital. The total intended investment amount from the raised funds does not exceed 900 million yuan.
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