Linping Development Passes SSE IPO Review, Annual Production Capacity to Reach 2.35 Million Tons Post-Funding

Stock News12-11

Anhui Linping Circular Development Co., Ltd. (Linping Development) has successfully passed the IPO review for listing on the Shanghai Stock Exchange's main board. The company plans to raise RMB 1.2 billion, with Guolian Minsheng Securities as its sponsor.

Linping Development specializes in the R&D, production, and sales of corrugated and containerboard paper for packaging. As a high-tech enterprise with independent innovation capabilities, it has evolved into a comprehensive resource utilization company integrating waste paper recycling, cogeneration, and eco-friendly papermaking. The company emphasizes environmental protection and energy efficiency through processes like wastewater treatment, biogas power generation, and sludge reuse.

According to the China Paper Association's 2024 annual report, China has approximately 2,600 paper and paperboard manufacturers, with only 30 producing over 1 million tons annually. Linping Development currently operates at a capacity of 1.15 million tons, producing 1.02 million tons of base paper in 2024, ranking among the top 30 domestic producers. Its output accounted for 35.65% of Anhui Province's total and 0.75% of the national production.

Post-IPO, the company's annual production capacity is expected to expand from 1.15 million tons to 2.35 million tons, significantly enhancing its market position. Linping Development has established stable partnerships with leading firms such as Xiamen Hexing Packaging Printing Co., Ltd., Xiamen C&D Inc., Xiamen ITG Group Corp., Ltd., Shanying International Holdings Co., Ltd., and LD Intelligent Technology Co., Ltd., reinforcing its reputation as a premium industry player.

Proceeds from the IPO will be allocated to business-related projects. Financially, the company reported revenues of approximately RMB 2.879 billion, RMB 2.8 billion, RMB 2.485 billion, and RMB 1.224 billion for 2022, 2023, 2024, and H1 2025, respectively. Net profits for the same periods were RMB 154 million, RMB 212 million, RMB 153 million, and RMB 91.419 million.

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