A-share subscription | Jintian Titanium Industry (688750.SH) begins subscription, focusing on the production, research, and sales of high-end titanium and titanium alloy materials.

On November 8, Jintiantai Industry (688750.SH) started its subscription, with an issue price of 7.16 yuan per share and a subscription limit of 16,500 shares. The price-to-earnings ratio is 24.72 times, and it belongs to the Shanghai Stock Exchange Sci-tech Innovation Board, with Zhongtai and China Aviation Securities as its sponsors. According to the prospectus, Jintiantai Industry is a high-tech enterprise mainly engaged in the research, production, and sales of high-end titanium and titanium alloy materials. The company's main products are titanium and titanium alloy bars, forgings, and components, mainly used in the fields of aviation, aerospace, ships, and weapons. Adhering to the operating philosophy of "serving the military, contributing to the country's industries, and strengthening the country's defense," the company explores the market through differentiated competition and technical services. Through years of accumulation and development, it has become one of the main research and production bases for high-end titanium alloy bars and forgings in China. According to data from the Titanium, Zirconium, and Hafnium Branch of China Nonferrous Metals Industry Association, in 2022, the sales volume of titanium materials in the aerospace field in China is about 33,000 tons. In 2022, the company's sales of titanium materials in the aerospace field are about 20,600 tons, leading to a market share of about 6.24% in the domestic aerospace titanium material market. The downstream users of Jintiantai Industry's products are mainly forging enterprises, ultimately used by main manufacturers of aircraft and aircraft engines. Key customers of the company during the reporting period include aviation industry subsidiaries, Xi'an Triangle Defense (300775.SZ), Wuxi Paike New Materials Technology (605123.SH), Guizhou Aviation Technical Development (688239.SH), China Second Heavy Machinery Group Deyang Wanhang Model Forging Co., Ltd., China Aviation Industry Corporation subsidiaries, China CSSC subsidiaries, etc. The specific projects for the raised funds in this offering are as follows: Financially, in the years 2021, 2022, and 2023, the company achieved operating revenues of approximately 573 million yuan, 701 million yuan, and 801 million yuan respectively. The net profits were approximately 94.9979 million yuan, 133 million yuan, and 147 million yuan respectively.