Betel Growth Enterprise Board IPO approved by the Listing Committee. The products are widely used by brands such as Lenovo, Huawei, Xiaomi, and others.

On May 8th, Suzhou Betely Polymer Materials Co., Ltd. (referred to as Betely) was approved at the meeting of the Shenzhen Stock Exchange's listing committee for the GEM board. The sponsor for the IPO is Guosen, and the company plans to raise 792.66 million yuan. According to the prospectus, the company is a new materials enterprise focused on customer demand and driven by innovative research and development. Its main business is the research, development, production, and sales of electronic materials and chemical new materials, covering three major sections: conductive materials, organic silicon materials, and coating materials. The company's products are widely used in the fields of photovoltaics, 3C electronics, organic silicon processing, electronic packaging, medical, and new energy vehicles. In the field of photovoltaics, the company's main customers include Shanghai Yinjing, Wuxi Dk Electronic Materials Co., Ltd., and Huasheng New Energy; in the 3C electronics field, the company's products are widely used in famous 3C electronic brand products such as Lenovo, Huawei, and Xiaomi; in the field of organic silicone processing, the company's main customers include Hubei Huitian New Materials, and Ecron Silicon, well-known organic silicon enterprises; in the field of electronic packaging, the company's main customers include MLS Co., Ltd., and Shenzhen MTC Co., Ltd., well-known LED enterprises; in the medical field, the company's main customers include Jiangsu Yuyue Medical Equipment & Supply, and Aikang Biology, well-known medical enterprises; in the field of new energy vehicles, the company's products have been successfully integrated into the supply chain systems of well-known car manufacturers such as NIO and BYD. In the company's development over more than twenty years, its product strategy has focused on sub-segments with characteristics such as "great potential for domestic substitution market" or "the domestic industrialization is in the early stages", launching a variety of electronic materials and chemical new materials, achieving domestic substitution and continuously conducting technological innovation, promoting the development of new quality productivity domestically. At the beginning of its establishment, relying on the deep technical accumulation of the founding team in the field of organic silicon, the company pioneered the development of silicone keypad coating materials to break the dependence on imports, and simultaneously extended the silicone rubber product line, forming dual-drive development. Around 2010, personal computers and smartphones developed rapidly, and related customers had urgent needs for domestic substitutes for conductive paste materials. The company keenly observed the synergy between existing coating material technologies and conductive paste materials, overcame the conductive paste materials with technological transfer advantages, entered the field of conductive materials, achieved domestic substitution of conductive paste materials for personal computer circuit boards and touch screen conductive paste materials for smartphones, and simultaneously initiated the research of powder paste integration. In recent years, with the tightening of environmental policies domestically and internationally, organic silicone materials have broad substitution space due to their environmental safety characteristics. The company has achieved a major breakthrough in substituting plastic materials in the 3C electronics peripheral product field, launching a liquid flame-retardant adhesive with good flame retardant and heat resistance properties, tensile strength, and extrusion speed. At the same time, facing the changes in the new energy industry, the company has used its existing technological accumulation to achieve cross-sector penetration of company products: in the photovoltaic field, relying on the advantages of powder paste integration research and development to enter the photovoltaic silver paste and HJT paste markets; in the field of new energy vehicles, through differentiated products such as magnesium-aluminum coatings and skin-feel UV coatings, the company has entered the supply chains of companies such as NIO and BYD, and has extended its flame-retardant adhesive technology to the fields of new energy battery busbars and wire and cable, forming a "photovoltaic + new energy vehicles" dual growth pole. Financially, in the fiscal years 2023, 2024, and 2025, the company is expected to achieve operating income of approximately 2.273 billion yuan, 2.521 billion yuan, and 3.646 billion yuan respectively; during the same period, the company's net profit is expected to be approximately 85.625 million yuan, 97.499 million yuan, and 116 million yuan respectively.