Shanchi Co., Ltd.'s IPO on the Shanghai Stock Exchange Main Board has been accepted. The global market share of wind power glass fiber fabrics exceeds 35%.

On June 25th, Zhejiang Zhenshi New Materials Co., Ltd. (referred to as Zhenshi) had its IPO application accepted by the Shanghai Stock Exchange main board. China International Capital Corporation Limited is its sponsoring institution, with plans to raise 3.981 billion yuan. According to the prospectus, Zhenshi is a national high-tech enterprise mainly engaged in the research, production, and sales of fiber-reinforced materials in the clean energy field. Since its establishment, the company has continuously provided high-quality and innovative solutions for downstream applications in the clean energy field, covering industries such as wind power generation, photovoltaic power generation, new energy vehicles, construction materials, transportation, electronics, electrical, and chemical environmental protection. After more than 20 years of development, the company has become a leading global manufacturer of wind turbine blade materials. According to statistics from the China Glass Fiber Industry Association, by 2024, the company's global market share of wind turbine glass fiber fabrics exceeded 35%, making it the world's largest producer and seller. The company was the first in China to produce large-scale wind turbine blades using high modulus glass fiber pultrusion profiles and carbon-glass mixed pultrusion profiles, providing a series of solutions for industry progress and development, promoting the large-scale and lightweight upgrading of wind turbine blades, and the development of offshore wind turbine blades. In the field of photovoltaic power generation applications, the company's independently developed photovoltaic frames have received the first global certificate issued by TV Rheinland, passing the TV Rheinland 2PfG2923 standard certification, demonstrating excellent performance in aging resistance testing, flame retardant performance, mechanical performance, among others. At the same time, the company has participated in the formulation of multiple industry standards, received the title of the third batch of manufacturing single champion demonstration enterprises, and its subsidiary, Zhenshi Huamei, is a national specialized and new "little giant" enterprise. The company has established stable cooperative relationships with renowned customers globally and has become a major supplier for leading enterprises. Domestic customers include Ming Yang Smart Energy, Sany Renewable Energy, Sinoma Science & Technology, Zhuzhou Times New Material Technology, Ailang Technology, and international customers include Vestas, Siemens Gamesa, TPI, Nordex, among others. In terms of technological breakthroughs, in 2023, the company successfully developed and applied high modulus glass fiber fabrics for the ultra-large capacity 16-megawatt offshore wind turbine group, the world's first independently developed in China. The company has established multiple production bases globally, with a market share of over 35% in the wind turbine glass fiber fabric sector by 2024, leading the world in production and sales; in the wind turbine pultrusion materials sector, the company ranks at the top domestically in sales, forming a dual growth pole of coordinated development in fiber fabrics and structural materials, continually consolidating its position as a core supplier in the global wind power industry chain. The funds raised this time are planned to be invested in the following projects: Financially, in the years 2022, 2023, and 2024, Zhenshi achieved operating income of approximately 5.267 billion yuan, 5.124 billion yuan, and 4.439 billion yuan; during the same period, the company's net profits were approximately 781 million yuan, 793 million yuan, and 610 million yuan, respectively.