On June 4th, Guangdong Zhongsu New Materials Co., Ltd. received approval for its initial public offering from the Shenzhen Stock Exchange's ChiNext board listing committee.
The company, with Guosen Securities Co.,Ltd. as its sponsor, aims to raise approximately 645.49 million yuan through the offering.
According to its prospectus, Zhongsu New Materials' core business is the research and development, production, and sale of modified engineering plastics.
Its products are primarily used in consumer electronics, energy storage, automotive, and home appliance industries, with end applications including mobile phones, smart wearables, tablets, laptops, Bluetooth speakers, energy storage power supplies, new energy vehicles, and various household appliances.
To align with the rapid iteration and high-quality demands of sectors like consumer electronics, the company follows a product differentiation strategy, focusing on developing high-value-added modified engineering plastics to meet specific material requirements of downstream products.
The company's core product portfolio includes high-performance engineering materials such as modified PC, PC/ABS, PA, PPA, PBT, and PET. It also develops specialized functional materials like laser direct structuring (LDS) materials, nano-molding technology (NMT) specific engineering materials, and ultra-high-temperature resistant special nylon materials to address specific client needs such as electrical interconnectivity, low dielectric properties, heat resistance, and waterproof heat dissipation.
For raw materials, the company primarily sources resin substrates like PC, PA, and ABS, along with additives, colorants, and auxiliary materials. These are mostly downstream products of the petrochemical industry, supplied by large domestic and international petrochemical companies and their distributors.
The company's direct client base covers major domestic manufacturers of components, modules, and precision structural parts, including Byd Company Limited, FIH, Huaqin Co.,Ltd., Wingtech Communications, Longqi Technology, Shenzhen Everwin Precision Technology Co.,Ltd., Goertek Inc., AAC TECH, Lingyi Itech(Guangdong)Company, Luxshare Precision Industry Co.,Ltd., Dongguan Chitwing Technology Co.,Ltd., and Huizhou Speed Wireless Technology Co.,Ltd..
Furthermore, the company has been included in the qualified supplier pools of several end-brand customers, which include industry leaders such as Samsung, Huawei, Xiaomi, OPPO, Transsion, BOSE, Lenovo, Xiaotiancai, Anker Innovations Technology Co.,Ltd., EcoFlow, Byd Company Limited, and Jiangling Motors.
During the reporting periods, the company's products, comprising high-performance engineering materials, special functional materials, and other materials, were mainly applied in the consumer electronics sector. Revenue from consumer electronics business accounted for 65.57%, 70.82%, and 66.90% of total revenue, respectively.
Concurrently, the company has been expanding its product portfolio to diversify into downstream categories, with the energy storage and new energy vehicle industries being key focus areas for development.
Revenue from modified engineering plastic products for the energy storage and new energy vehicle sectors showed a steady increase during the reporting periods.
Financially, for the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 537 million yuan, 700 million yuan, and 749 million yuan, respectively.
Net profit for the same periods was approximately 78.9978 million yuan, 100 million yuan, and 126 million yuan, respectively.
Comments