CSRC approves Yongjie New Materials to list on the Shanghai Stock Exchange Main Board IPO

On November 21, the China Securities Regulatory Commission issued a reply approving Yongjie New Materials Co., Ltd.'s initial public offering of shares. It is reported that Yongjie New Materials plans to list on the Shanghai Stock Exchange main board, with Dongxing as the IPO sponsor, aiming to raise 2.089 billion yuan. The prospectus shows that Yongjie New Materials is specialized in the research, development, production, and sales of aluminum sheets, strips, and foils, including two main categories: aluminum sheets and aluminum foils. Aluminum sheets and foils are basic materials for further processing in many downstream industries, with the companys products primarily used in downstream products or fields such as lithium batteries, vehicle lightweighting, new building materials, and electronic appliances. The market space for the aluminum sheet and foil industry is large, with many small enterprises competing with homogeneous products, while high-end products are in short supply, and advantage enterprises have formed in some sub-sectors. In 2021, the company's aluminum sheet and foil production reached 315,100 tons, ranking 4th according to the data of main listed companies in the industry in 2021. From 2019 to 2021, the company's production accounted for 1.40%, 1.54%, and 1.76% of the industry's total production respectively, showing overall growth.