On June 3, Yongda Share (920126.BJ) commenced its public subscription. The offering price is set at RMB 7.79 per share, with a maximum subscription limit of 2.0934 million shares and a price-to-earnings ratio of 14.98. The listing is on the Beijing Stock Exchange, with Guotai Haitong Securities as the sponsor.
According to its prospectus, Yongda specializes in the R&D, design, manufacturing, sales, and related technical services of pressure vessels for sectors including basic chemicals, coal chemical, oil refining and petrochemical, photovoltaic, and pharmaceuticals. The company has established a product system for custom, non-standard pressure vessels, primarily comprising reaction, heat exchange, separation, and storage vessels.
The company has supplied a significant number of high-quality products and services for facilities in coal chemical and oil refining sectors, such as coal-to-methanol, coal-to-ethylene glycol, coal-to-olefins, ethylene, PDH, ethylene oxide, phenol acetone, bisphenol A, styrene, cyclohexanone, caprolactam, PTA, BDO, EVA, and hydrogen peroxide.
Yongda is a primary supplier network member for Sinopec, PetroChina, CNOOC, and China National Nuclear Corporation. It has also established solid and stable sales and service relationships with engineering design institutes, project companies, and renowned chemical enterprises, including Sedin Engineering, Donghua Technology, China Wuhuan, Hualu Engineering, Chengda Engineering, Shenghong Group, Rongsheng Petrochemical, Hengli Petrochemical, Tongkun Group, GCL Technology, Satellite Chemical, Xinjiang Tianye, Yulin Energy Group, Hualu Group, and Jinnan Steel Group.
The company has been recognized as an excellent supplier by entities such as Jiangsu Shenghong Petrochemical Industry Group, Shaanxi Coal Group Yulin Chemical, Jiangsu Honggang Petrochemical, Sedin Engineering, Sinopec Yizheng Chemical Fiber, Sinopec Ningbo Engineering, and China Huanqiu Contracting & Engineering.
In recent years, China's pressure vessel industry has shown steady growth. Data from the Forward Industry Research Institute indicates the market size grew from RMB 144.4 billion in 2016 to RMB 231.1 billion in 2023, achieving a compound annual growth rate of 6.95%. It is projected to exceed RMB 260 billion by 2026, suggesting significant market development potential for the sector.
Financially, for the years 2023, 2024, and 2025, the company reported operating revenues of approximately RMB 712 million, RMB 819 million, and RMB 727 million, respectively. For the same periods, it recorded net profits of about RMB 131 million, RMB 107 million, and RMB 109 million.
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