A-share subscription | Tiangong shares (920068.BJ) opens for subscription Mainly engaged in the research and development, production, and sales of titanium and titanium alloy materials.

On April 28, Tiangong Corporation (920068.BJ) opened for subscription with an issue price of 3.94 yuan/share, a subscription limit of 2.55 million shares, a P/E ratio of 14.98 times, listed on the Beijing Stock Exchange, with Shenwan Hongyuan Group serving as its sponsor. According to the prospectus, Tiangong Corporation is mainly engaged in the research, production, and sales of titanium and titanium alloy materials, using raw material sponge titanium (or adding other metal elements) to produce products that can maximize the organizational performance of titanium and titanium alloy materials through proportioning, smelting, forging, and various finishing methods, widely used in the fields of chemical industry, consumer electronics, etc. in the form of plates, pipes, wires, etc. The company adheres to the development path of technological innovation, upholding the concept that innovation is the foundation of production, continuously outputting R&D vitality in the directions of technological innovation, production process innovation, and product structure innovation optimization, sticking to the path of high-end, diversified products, and maintaining its competitiveness in the emerging product market. To meet the stringent requirements of quality, performance, ESG, etc. for titanium materials used in consumer electronics, the company has made many innovations in core technologies and specific applications in production processes through years of R&D and accumulation, including product innovation, technological and process innovation, and operational management innovation. The funds raised in this round will be invested in projects related to the main business, focusing on increasing the company's product output, improving product performance and quality, reducing related party transactions, and expanding into high value-added application fields of titanium and titanium alloy materials. In terms of finances, in the fiscal years 2022, 2023, and 2024, the company is expected to achieve operating revenues of approximately 383 million yuan, 1.035 billion yuan, and 801 million yuan, respectively; and net profits of approximately 70.37 million yuan, 175 million yuan, and 174 million yuan, respectively.