Huixin New Materials submitted an application for an IPO on the ChiNext, aiming to raise 900 million yuan.

On December 11, Guangzhou Huixin New Materials Technology Co., Ltd. (referred to as Huixin New Materials) applied to the Shenzhen Stock Exchange Growth Enterprise Board for an IPO review status change to "submitted for registration". CITIC SEC is its sponsoring institution, intending to raise 900 million yuan. According to the prospectus, Huixin New Materials is a platform-based functional coating material enterprise focusing on the field of polymer materials, based on independent research and development. Its main product system covers functional resins and functional coating materials. The company is committed to becoming a global leader in functional material technology innovation. The company's main business is the research, production, and sales of functional resins and functional coating materials, with molecular structure design as the technical starting point. It focuses on key technology research and industrial application of core functional resins, building two major technological platforms of functional resins and functional coating materials, and establishing core competitive barriers. Relying on the integration and collaboration of the two technological platforms of functional resins and coating materials, closely related to the development context of the national economy and the demand for key materials, the company has successfully developed a coating material system with multiple characteristics such as optical regulation, electrical and thermal conduction, mechanical enhancement, and corrosion resistance. It has formed an industrial layout system "1+1+N" for downstream applications in home appliances, packaging, new energy, and electronics. The company's main products have gained market positions in their respective fields, with strong competitive advantages. In the areas of heat exchanger energy-saving coating materials and aluminum cap coating materials for metal packaging, the company's domestic market share exceeds 60% and 30%, respectively. The proceeds from this issuance will be used for the development of the main business. After deducting the issuance expenses from the proceeds, the funds will be used in order of urgency for the company's main business. The financial situation is as follows: In the years 2022, 2023, 2024, and the period from January to June 2025, the company's operating income is expected to be approximately 664 million yuan, 717 million yuan, 817 million yuan, and 496 million yuan, respectively. During the same period, the company's net profit is expected to be approximately 25.95 million yuan, 1.06 billion yuan, 1.46 billion yuan, and 1.07 billion yuan, respectively.