Shuangrui shares have passed the Shenzhen Stock Exchange IPO and obtained certifications from Chinese CCS, British LR, American ABS, French BV and other classification societies at the listing committee meeting.

date
01/11/2024
avatar
GMT Eight
On November 1st, China Shipbuilding Industry Corporation (Looyang) Special Equipment Co., Ltd. (referred to as Shuangrui Co., Ltd.) passed the GEM listing committee meeting of the Shenzhen Stock Exchange. The sponsor of this IPO is China Securities Co., Ltd., with a planned fundraising of 653.74 million yuan. The prospectus shows that Shuangrui Co., Ltd. was formerly known as Luoyang Shuangrui Special Equipment Co., Ltd., established in 2005 by the integration of the Eighth Room (forged steel), Tenth Room (expansion joints and pressure vessels), and Twelfth Room (bridge bearings) under the 725 Institute. In 2012, the high-pressure gas cylinder business of the First Room of the 725 Institute was integrated into the company. In 2022, the company was transformed into a joint-stock company. Shuangrui Co., Ltd. has been deeply involved in the main business field for many years, focusing on engineering service needs in harsh environments such as high cold, earthquakes, high salt, high and low temperatures, negative high pressure, high corrosion, high friction, high carrying capacity, dynamic loads, etc. The company has developed and applied innovative solutions based on its long-term research and application accumulation in materials application research, functional structure design and other fields, forming three dominant industries in bridge safety equipment, pipeline compensation equipment, and special material products, as well as two emerging industries in efficient and energy-saving equipment and energy storage and transportation equipment. The bridge safety equipment of Shuangrui Co., Ltd. includes bridge bearings, bridge isolation bearings, bridge expansion devices, and rotary ball bearings; the pipeline compensation equipment includes metal bellows expansion joints, sleeve compensators, and special material heat exchangers; the special material products include flow components, castings, flanges, and fasteners; the efficient and energy-saving equipment includes large temperature difference absorption heat pump units, steam-type waste heat recovery heat pumps, and air source heat pump ovens; the energy storage and transportation equipment includes gas cylinders, bundle container and gas cylinder sets, etc. The company's products are widely used in bridge construction, energy and chemical industry, shipbuilding, heating engineering, efficient energy-saving, energy storage and transportation fields. Shuangrui Co., Ltd. has established a sound quality, environment, occupational health and safety, energy, internal control management systems, obtained CRCC, CCPC, EU CE certification, special equipment design and manufacturing permits, pressure pipeline component design and manufacturing permits, ASME, DOT, EU TPED certification, Chinese CCS, British LR, American ABS, French BV and other classification society certifications. In terms of finances, in the fiscal years of 2021, 2022, 2023, and 2024 (January to June), Shuangrui Co., Ltd. achieved operating revenues of approximately 1.262 billion yuan, 1.336 billion yuan, 1.611 billion yuan, and 743 million yuan, respectively; during the same period, the company achieved net profits of approximately 105 million yuan, 89.9683 million yuan, 111 million yuan, and 51.2578 million yuan, respectively.

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