A-share IPO subscription | Jinhua New Material (920015.BJ) opens subscription, focusing on the production, research, and sales of ketoxime series fine chemicals.

On September 16th, Jinhua New Materials (920015.BJ) began its subscription with an issue price of 18.15 yuan per share, a subscription limit of 1,551,600 shares, a price-earnings ratio of 11.52 times, and is listed on the Northern Exchange, with Zheshang being its sponsor. The prospectus shows that Jinhua New Materials is engaged in the research, development, production, and sales of ketoxime series fine chemicals, with main products including silicone coupling agents, hydroxylamine salts, methoxyamine hydrochloride, acetaldoxime, etc., mainly used in industries such as building materials, energy and power, electronics, new energy vehicles, pesticides, pharmaceuticals, metal extractants, ion exchange resins, and environmentally friendly dyes. Jinhua New Materials' silicone coupling agent products are mainly used as key raw materials for the production of organosilicon sealants and adhesives, with the end products widely used in industries such as building materials, energy and power, electronics, and new energy vehicles, making them key products in the field of new materials in the national strategic emerging industry; the company's hydroxylamine salt products are mainly used in the production of broad-spectrum, highly efficient, low-toxic pesticides and antibacterial drugs, efficient and environmentally friendly metal extractants, new ion exchange resins, and environmentally friendly dyes. Based on national silicone coupling agent production data from ACMI/SAGSI and combined with the company's silicone coupling agent production calculations, the company's domestic market share of silicone coupling agents in 2022, 2023, and 2024 are 27.85%, 31.60%, and 38.16% respectively; based on national hydroxylamine salt market size and sales data from QY Research and combined with the company's hydroxylamine salt sales calculations, the company's domestic market share of hydroxylamine salt in 2022, 2023, and 2024 are 34.86%, 33.21%, and 42.37% respectively. With excellent product quality, technological advantages, and strong production and delivery capabilities, during the reporting period, Jinhua New Materials has established stable cooperation relationships with large multinational companies such as Bayer, Brentagg, and listed companies such as Wanhua Chemical Group (600309.SH), Zhejiang Xinan Chemical Industrial Group (600596.SH), ShanDong Cynda Chemical (603086.SH), Lianhe Chemical Technology (002250.SZ), Hunan Haili Chemical Industry (600731.SH), among others. In addition, domestic and foreign listed companies such as Chengdu Guibao Science & Technology (300019.SZ), H.B. Fuller Company (FUL.US), Guangzhou Jointas Chemical (002909.SZ), Hubei Huitian New Materials (300041.SZ), Beijing Oriental Yuhong Waterproof Technology (002271.SZ), Sunresin New Materials (300487.SZ), Science Environmental Protection (688480.SH), KOPPERCHEM (834033.BJ) are the main end customers of the company's major traders. According to the resolutions of the company's 2024 first extraordinary shareholders' meeting and the sixth meeting of the sixth board of directors, the net proceeds of the issuance, after deducting the issuance expenses, will be used entirely for the following projects: Financially, in the financial years of 2022, 2023, and 2024, Jinhua New Materials achieved operating revenues of approximately 994 million yuan, 1.115 billion yuan, and 1.239 billion yuan respectively, with net profits of approximately 79.5922 million yuan, 173 million yuan, and 211 million yuan in the same period.