Bettley Submits Registration for ChiNext IPO, Focuses on R&D and Production of Electronic and New Chemical Materials

On May 13th, Suzhou Bettley Polymer Materials Co., Ltd. (referred to as Bettley) saw the status of its application for an initial public offering on the Shenzhen Stock Exchange's ChiNext board change to "registration submitted." Guosen Securities is acting as the sponsor for the offering, which aims to raise approximately 762.65 million yuan. According to the prospectus, Bettley is a new materials enterprise driven by customer needs and innovative research and development. Its main business involves the R&D, production, and sales of electronic materials and new chemical materials. The company's product portfolio spans three major segments: conductive materials, silicone materials, and coating materials. These products find extensive applications across various industries including photovoltaics, 3C electronics, silicone deep processing, electronic packaging, medical devices, and new energy vehicles. As environmental regulations tighten both domestically and internationally, silicone materials are gaining significant substitution potential due to their environmentally safe properties. Bettley has achieved a major breakthrough by replacing plastic materials in the 3C electronics peripheral products sector, introducing a liquid flame-retardant adhesive with excellent flame resistance, heat resistance, tensile strength, and extrusion speed. In response to the transformation within the new energy industry, the company leverages its existing technological expertise to enable cross-sector penetration of its products. In the photovoltaic field, it utilizes its integrated R&D advantage in powder slurry to enter the markets for photovoltaic silver powder and HJT paste. In the new energy vehicle sector, Bettley accesses the supply chains of companies like Li Auto and Byd Company Limited through differentiated products such as magnesium-aluminum coatings and skin-feel UV coatings. Furthermore, it has extended its flame-retardant adhesive technology to areas like new energy battery busbars and wire & cable, establishing a dual growth engine focused on "photovoltaics + new energy vehicles." The company's clientele includes well-known entities across various sectors. In photovoltaics, its major customers include Shanghai Silver Paste, Wuxi Dk Electronic Materials Co.,Ltd., and Huasheng New Energy. Within the 3C electronics industry, Bettley's products are widely used in products from renowned brands such as Lenovo, Huawei, and Xiaomi. For silicone deep processing, key clients comprise Hubei Huitian New Materials Co.,Ltd. and Elkem Silicones. In the electronic packaging sector, major customers include Mls Co.,Ltd. and Shenzhen Mtc Co.,Ltd., prominent LED manufacturers. In the medical field, clients consist of Jiangsu Yuyue Medical Equipment&Supply Co.,Ltd. and ACON Biotech (Hangzhou) Co., Ltd. For new energy vehicles, the company's products have successfully been integrated into the supply chains of notable automakers like Li Auto and Byd Company Limited. Following the completion of this share issuance, the net proceeds after deducting offering expenses will be allocated to the investment and construction of specified projects. Financially, for the fiscal years 2023, 2024, and 2025, the company reported operating revenues of approximately 2.273 billion yuan, 2.521 billion yuan, and 3.646 billion yuan, respectively. During the same periods, net profits were approximately 85.6253 million yuan, 97.4999 million yuan, and 116 million yuan, respectively.