Yanfuku Material Technology's application for listing on the science and technology innovation board has been approved by the listing committee, aiming to raise 900 million yuan.

On December 12th, Beijing Yuyan Metal Composite Materials Co., Ltd. (hereinafter referred to as Yuyan Composite Materials) passed the listing committee meeting of the Sci-Tech Innovation Board of the Shanghai Stock Exchange. CITIC SEC is its sponsor institution, planning to raise 900 million yuan. According to the prospectus, Yuyan Composite Materials is a high-tech enterprise mainly engaged in the research and development, production, and sales of metal composite materials and products, special non-ferrous metal alloy products, with its business divided into metal composite materials and products and special non-ferrous metal alloy products sectors. The company's main products include metal-based composite materials and products, bimetal composite materials and products, special aluminum alloy products, and special copper alloy products, which are widely used in the aerospace, military electronics, smart terminals, household appliances, and other fields. Currently, the company's metal-based composite materials mainly consist of aluminum-based composite materials. The company's main products, aerospace forgings, have been mass applied in helicopters and fixed-wing aircraft. In addition, based on its technological accumulation in the field of metal-based composite materials, the company has innovatively developed ultra-thin smartphone battery compartments, achieving large-scale application of aluminum-based composite materials in smartphones for the first time. The company's silicon-aluminum composite materials series products are used in military electronic packaging field as replacements for imports. The company's independently developed ultra-high thermal conductive graphite aluminum composite materials are used in the military electronic field, solving the heat dissipation problems for electronic chips in aerospace, aviation, and other industries. In terms of special copper alloys, the company has domestically leading continuous casting high-efficiency short process preparation technology, with its high-nickel white copper successfully used in the eyewear and musical instruments industries and serving as a supplier to global leading eyewear manufacturer EssilorLuxottica Group; the produced manganese copper precision resistance alloy is used in smart meters, new energy vehicles, photovoltaic energy storage, and other industries, maintaining a leading position in the domestic market share of smart meter industry. During the reporting period, the composition of the company's main revenue from operations is as follows: The company's downstream customers mainly include well-known customers in the aerospace, military electronics, and smart terminal industries, including subsidiaries of China Aviation Industry Group Limited, subsidiaries of China Electronics Technology Group Corporation, and BYD Company Limited. In terms of financials, for the fiscal years 2022, 2023, 2024, and January-June 2025, Yuyan Composite Materials' operating income is expected to be approximately 414 million yuan, 498 million yuan, 610 million yuan, and 240 million yuan, respectively. During the same period, the company's net profit is expected to be approximately 75.1059 million yuan, 61.9144 million yuan, 68.4385 million yuan, and 14.1639 million yuan, respectively.