Jiangnan New Materials' IPO on the Shanghai Stock Exchange has been approved, with downstream customers covering both domestic and foreign first-tier PCB manufacturing companies.

On November 15, Jiangxi Jiangnan New Materials Technology Co., Ltd. (referred to as Jiangnan New Materials) successfully passed the listing committee meeting of the Shanghai Stock Exchange for its IPO on the main board. The sponsoring institution is CITIC SEC, with plans to raise 384 million yuan. According to the prospectus, Jiangnan New Materials is a national "specialized, sophisticated, new" giant enterprise focusing on research and development, production, and sales in the field of copper-based new materials for electronic circuits. It has been honored as the national champion product in the manufacturing industry. After years of development, the company has established a leading position in the market with its copper ball series, copper oxide powder series, high-precision copper-based heat sink series, and other products. The company's core products include the copper ball series, copper oxide powder series, and high-precision copper-based heat sink series. The self-developed copper ball series products have been applied in various types and processes of PCBs and copper plating processes of photovoltaic cell panels. The copper oxide powder series products have been used in PCB copper plating processes, lithium battery PET composite copper foil manufacturing, organic silicon monomer synthesis catalysts, and other fields. The high-precision copper-based heat sink series products have been applied in the PCB embedded heat dissipation process. The company's core product industrial chain covers various fields such as communication, computers, consumer electronics, automotive electronics, industrial control, medical, aerospace, new energy, organic silicon, and many more. In the 2023 China electronic circuit industry's copper-based special materials ranking list, Jiangnan New Materials ranks first. Additionally, out of the top 100 comprehensive PCB companies in the China electronic circuit industry ranking list, 83 are customers of the company. In addition to PCB customers, the company continues to explore new customers in downstream application areas such as photovoltaics, lithium batteries, organic silicon catalysts, with related products achieving mass sales. Currently, the company's downstream customers cover most domestic and foreign first-tier PCB manufacturing companies, including Avary Holding, Suzhou Dongshan Precision Manufacturing, Jianding technology, Shennan Circuits, Hanyu Borde, Shenzhen Kinwong Electronic, Zhichao Technology, Aoshikang Technology, Victory Giant Technology, Suntak Technology, Dingying Electronics, Bomin Electronics, and others. Following approval by the shareholders' meeting, the total funds raised in this issuance, after deducting issuance expenses, are intended to be invested in the following projects: Financially, in the fiscal years 2021, 2022, 2023, and January-June 2024, Jiangnan New Materials achieved operating income of approximately 6.284 billion yuan, 6.23 billion yuan, 6.818 billion yuan, and 4.107 billion yuan, respectively. During the same period, the company achieved net profits of approximately 148 million yuan, 105 million yuan, 142 million yuan, and 98.3278 million yuan, respectively.