CSRC agrees to Zhenshi Shares' IPO registration on the Shanghai Stock Exchange

On December 5th, the China Securities Regulatory Commission issued the reply to approve the initial public offering of shares of Zhejiang Zhenshi New Materials Co., Ltd. It is reported that Zhenshi New Materials plans to list on the Shanghai Stock Exchange main board, with China International Capital Corporation Limited as the sponsor institution, intending to raise 3.981 billion yuan. According to the prospectus, Zhenshi New Materials is a national-level high-tech enterprise mainly engaged in research, development, production, and sales of fiber-reinforced materials in the field of clean energy. Since its establishment, the company has been continuously providing high-quality and innovative solutions for downstream applications in the clean energy field from the material end, covering industries such as wind power generation, photovoltaic power generation, new energy vehicles, building materials, transportation, electronics and electrical, and chemical environmental protection. According to statistics from the China Glass Fiber Industry Association, by 2024, the company's global market share of wind power glass fiber fabrics exceeds 35%, and its production and sales scale leads globally. The company has taken the lead in mass production of high modulus glass fiber pultruded profiles for wind turbine blade main beams and carbon-glass hybrid pultruded profiles in China, providing a series of solutions for industrial progress and industry 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 self-developed photovoltaic frames have received the world's first certificate from TV Rheinland, passing the 2PfG2923 standard certification of TV Rheinland in aging resistance testing, flame retardancy performance, mechanical performance, and other aspects.