A-share subscription | Guoliang New Materials (920076.BJ) starts subscription, deeply cultivating the refractory materials industry for many years

On January 14th, Guoliang New Materials (920076.BJ) started its subscription, with the issuance price of 10.76 yuan per share, a subscription limit of 812,000 shares, a P/E ratio of 14.97 times, listed on the North Exchange, with Dongxing as its sponsoring institution. According to the prospectus, the company is a high-tech enterprise specialized in providing integrated solutions for refractory materials for high-temperature industrial use, offering refractory materials contracting services and products for customers. The company has been deeply involved in the refractory materials industry for many years, focusing on product innovation and breakthroughs in production technology, upgrading and optimizing production processes, as well as improving and enhancing service quality. It has established a set of core technologies, product manufacturing, on-site services, and other ecosystem of the entire industry chain. The company's products and services focus on the steel and metallurgical industry, accumulating core technologies over the years, with rich experience in product manufacturing and on-site project service and management advantages. From the design and technical guidance of overall contracting solutions for ladles, ladle shrouds, and molten iron ladles to the research, manufacturing of key refractory materials products, and the construction, maintenance, and technical support in the steelmaking process, it can provide downstream customers with stable quality products and quality services, not only improving the production efficiency of downstream customers but also optimizing product structure, reducing costs, and increasing efficiency. With years of experience in the refractory materials industry, the company's production of shaped, unshaped, and functional refractory materials covers a wide range of categories, and the key refractory materials used for overall contracting have been basically achieved through independent production. The refractory materials products produced by the company are mainly used for overall contracting services for downstream customers, while also having direct sales business, forming a business model where overall contracting is the main focus, supported by direct sales. The overall contracting model integrates the design, development, manufacturing, installation, construction, maintenance, technical services, and post-processing of refractory materials for thermal equipment according to the customer's needs. Under the overall contracting model, the company continues to upgrade the technology of refractory materials products, effectively prolonging the service life of overall contracted projects such as ladles, ladle shrouds, and molten iron ladles by enhancing the performance of refractory materials products, reducing the consumption of refractory materials per ton of steel for customers, and achieving win-win cooperation with customers. At the same time, this model has a strong exclusivity, conducive to enhancing customer loyalty, and fully reflects the company's competitive advantage. Since its establishment, the company has been committed to the refractory materials industry, focusing on technological innovation and green development. The company has built a research and development team led by doctors with rich industry experience and research capabilities. The company actively undertakes projects such as the Ministry of Science and Technology's Small and Medium-sized Enterprise Technology Innovation Fund, and Tangshan City Science and Technology Projects. Its research achievements have won awards, winning the third prize for scientific and technological progress in Hebei Province in 2009, 2016, and 2019 respectively. As of the signing date of the prospectus, the company has 5 Hebei Province scientific and technological achievement certificates, 33 invention patents, and 52 utility model patents. The company attaches importance to environmental protection and was included in the "Fifth Batch of Green Factory List" by the Ministry of Industry and Information Technology in 2020. Financially, in 2022, 2023, 2024, and January-June 2025, the company achieved operating revenues of approximately 937 million yuan, 984 million yuan, 905 million yuan, and 511 million yuan, respectively; with net profits of approximately 40.368 million yuan, 83.798 million yuan, 70.649 million yuan, and 41.497 million yuan during the same period.