A-share subscription | Seafun Technology (688758.SH) opens for subscription, focusing on the field of chromatography materials.

On December 30th, Saifen Technology (688758.SH) started its subscription, with an issue price of 4.32 yuan per share and a subscription limit of 8,000 shares. The company's price-earnings ratio is 39.09 times and it belongs to the Shanghai Stock Exchange Science and Technology Innovation Board, with CITIC SEC as its exclusive sponsor. The prospectus shows that Saifen Technology is dedicated to the research and production of liquid chromatography materials used for drug analysis, testing, and purification. It is a high-tech enterprise that integrates research and development, production, and global sales. The company's core products are chromatographic columns and chromatography media used for the analysis, testing, and purification of bio-macromolecular drugs and small molecule chemical drugs, which cover the entire process of drug development and production. They are essential consumables for pharmaceutical companies, especially bio-pharmaceutical companies, from early drug development to commercial production. For a long time, the global and Chinese chromatography market has been dominated by foreign manufacturers. In recent years, the country's high attention to biological safety and complex international relations have prompted domestic pharmaceutical companies to have higher requirements for the core consumable supply capacity of production. Due to concerns about supply chain security and the stability of raw material supply, pharmaceutical company customers have a strong demand for domestic chromatography suppliers with better cost-effectiveness. The Chinese chromatography industry has seen a huge trend and opportunity for domestic substitution, with domestic chromatography manufacturers, represented by the issuer, already possessing the ability to produce first-class chromatography products. It is expected that in the future, they will gradually break the competition pattern dominated by foreign giants and imported products, further promoting the increase in domestication rate. Saifen Technology's analytical chromatography products are mainly used for analytical testing in drug development and quality inspection processes. The company has established good business cooperation relationships with global pharmaceutical groups, biopharmaceutical companies, and innovative drug companies, including Roche, Pfizer, Lilly, Gan & Lee Pharmaceuticals, CDE, Qilu Pharmaceutical, Rejuvenate, Moderna, and has maintained long-term stable cooperation with industry international giants such as Agilent, Thermo Fisher, VWR, and Sigma-Aldrich. The funds raised from this offering will be invested in the following projects: On the financial front, in the fiscal years 2021, 2022, and 2023, Saifen Technology is expected to achieve operating income of approximately 155 million, 213 million, and 245 million yuan, respectively. The company's net profit is expected to be approximately 21.62 million, 48.20 million, and 54.15 million yuan, respectively.