Yongjie New Materials' IPO on the Shanghai Stock Exchange has been approved by the Listing Committee, and the market share of aluminum alloy plate and strip products ranks first in the country.

On November 1st, Yongjie New Materials Co., Ltd. (referred to as Yongjie New Materials) was approved to go public through the listing committee of the Shanghai Stock Exchange main board. The sponsor of this IPO is Dongxing, with a planned fundraising of 2.089 billion yuan. The prospectus shows that Yongjie New Materials is specialized in the research, production, and sales of aluminum sheet and foil, with products mainly including aluminum sheets and aluminum foils. Aluminum sheet and foil are basic materials for many downstream industries to continue processing. The company's products are mainly used in downstream products or fields such as lithium batteries, vehicle lightweighting, new building materials, and electronics. The main raw materials for the company's aluminum sheet and foil products include aluminum ingots, aluminum liquid, flat ingots, casting and rolling coils, and aluminum foil blanks, with the main energy consumption during production and operation being natural gas and electricity. According to the difference in customer types, the company's customers are divided into manufacturers and traders. Manufacturer customers refer to customers who purchase the company's products, process and produce them, and then sell them externally, such as Shenzhen Kedali Industry purchasing the company's aluminum sheets to process into battery cell components and then resell them to Contemporary Amperex Technology to make lithium batteries. Trader customers refer to customers who purchase the company's products and sell them externally without processing, such as China National Building Material Group. Manufacturers are the company's main customers, accounting for approximately 70%-84% of its revenue during the reporting period. The market space of the aluminum sheet and foil industry is relatively large, with a large number of small enterprises in the industry. Among them, there is fierce competition for homogeneous products, while high-end products are in short supply and leading companies have emerged in some niche areas. From 2021 to 2023, the company's production volume accounted for 1.76%, 1.68%, and 1.72% of the total industry production volume. With the continuous increase in sales volume and penetration rate of new energy vehicles in recent years, the company's business in the lithium battery field has grown rapidly. The company's "aluminum alloy sheet for lithium ion power battery structural components" has been recognized by the Ministry of Industry and Information Technology as a "manufacturing single champion product." According to the certificate issued by China Aluminum Industry Supply and Marketing Association, during the period from 2021 to 2023, the company is the domestic leader in the market share of "aluminum alloy sheet for lithium ion power battery structural components." In terms of finances, in the fiscal years 2021, 2022, 2023, and January-June 2024, Yongjie New Materials achieved operating revenues of approximately 6.303 billion yuan, 7.15 billion yuan, 6.504 billion yuan, and 3.732 billion yuan respectively. During the same period, the company achieved net profits of approximately 239 million yuan, 354 million yuan, 238 million yuan, and 164 million yuan respectively.