JinYi new material's listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board (STAR Market) IPO has been terminated. The company has the largest sales volume in the field of inorganic functional powders used in copper-clad laminates.

On February 13th, Suzhou Jinyi New Materials Technology Co., Ltd. (referred to as Jinyi New Materials) terminated its IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board. This was due to Jinyi New Materials and its sponsor withdrawing their application for listing. According to relevant provisions in the "Shanghai Stock Exchange Stock Issuance and Listing Review Rules," the Shanghai Stock Exchange terminated the listing review. The prospectus shows that Jinyi New Materials is committed to innovative technological research and industrial application in the field of new materials. It is a national high-tech enterprise specializing in the research, production, and sales of advanced inorganic non-metallic powder materials. It is also recognized as a national-level specialized and innovative "Little Giant" enterprise. The company's main products currently include four major categories: electronic information functional materials, thermal conductivity and heat dissipation functional materials, coating functional materials, and other emerging functional materials. The electronic information functional materials are mainly used in various levels of copper-clad laminates, including IC substrates, while the thermal conductivity and heat dissipation functional materials are mainly used in high thermal conductive adhesives and ceramic heat dissipation substrates. According to the Certification from the Copper-clad Laminate Materials Sub-Association of the China Electronic Materials Industry Association, Jinyi New Materials had a global market share of approximately 18% in the high-purity ultrafine silicon powder field in 2019. Its market share has since rapidly increased, reaching approximately 22% in 2020 and 25% in 2021. It is projected that the company's high-purity ultrafine silicon powder products will have an average global market share of approximately 25% between 2022 and 2023, ranking among the top two domestically. According to data from the Forward Industry Research Institute, in 2021, Jinyi New Materials ranked first in the domestic market for inorganic functional powder used in copper-clad laminates. As stated by the China Non-metallic Minerals Industry Association, the company's sales volume in the field of inorganic functional powder used in copper-clad laminates ranks first domestically. The net proceeds from the fundraising, after deducting issuance expenses, will be entirely used for the following projects: Financially, in 2021, 2022, 2023, and January to June 2024, Jinyi New Materials had operating revenues of approximately 325 million, 429 million, 520 million, and 337 million RMB respectively. During the same period, the company's net profits were approximately 34.73 million, 50.80 million, 66.04 million, and 43.81 million RMB respectively.