A-share IPO | Caike Technology (920206.BJ) opens for subscription, specializing in the production of fine chemical products.

On May 27th, Caike Technology (920206.BJ) started its subscription, with an issue price of 30.28 yuan per share and a subscription limit of 358,800 shares. The price-earnings ratio is 14.98 times and it belongs to the North Exchange. Zhongtai is its sponsor institution. According to the prospectus, the company is a high-tech enterprise specializing in research, production, and sales of fine chemical products. Its main products include DMSS, DATA, DMAS, DMS, with downstream applications including quinoline ketone-based and DPP-based high-performance organic pigments, food coloring lemon yellow, light stabilizers, and other fine chemicals. The end applications cover various fields such as high-end coatings and inkjet inks, automotive topcoats, children's toys, food and beverages, pharmaceuticals and cosmetics, plastic films, synthetic fibers, adhesives, etc. Among them, DMSS and DATA are important intermediates for the synthesis of high-performance heterocyclic organic pigment quinoline ketone pigments; DMAS is an important intermediate for the synthesis of food coloring lemon yellow; DMS can be used for the production of high-performance organic pigments and is an important raw material required for the production of light stabilizers. Since its establishment, the company has always adhered to the development concept of "using green technology to add color to the world", focusing on independent research and development and production management, and insisting on driving enterprise development with technological innovation. With nearly twenty years of deep cultivation and technological accumulation, the company has gradually become one of the production enterprises with strong competitiveness in related fields, with the main product capacity and sales volume at a higher level in the industry. At the same time, with strong R&D innovation capabilities, excellent product performance, stable supply capabilities, and high-quality customer service, the company has established long-term stable cooperative relationships with well-known pigment production enterprises at home and abroad such as DIC Group, India's Sudarshan and Pigments Services, Hangzhou Lily Group Co., Ltd., Wenzhou Jinyuan, as well as global leading food coloring production enterprises such as India's Roha and Dynemic, and the United States' Sensient, as well as light stabilizer production enterprises like Rianlon Corporation and Beijing Tiangang. The products are selling well at home and abroad, with a good market position and brand influence in related product fields. In terms of product research and development, as of December 31, 2025, the company has a total of 69 authorized patents, including 40 invention patents. The company is a national high-tech enterprise, a national-level specialized and innovative "little giant" enterprise recognized by the Ministry of Industry and Information Technology, recognized as a PetroChina and chemical industry technology innovation demonstration enterprise, a champion enterprise in Hebei Province's manufacturing industry, a technology innovation demonstration enterprise in Hebei Province, a technology-based small and medium-sized enterprise in Hebei Province, and a corporate technology center in Hebei Province. The main product DMAS has won the third prize of the Hebei Province Scientific and Technological Progress Award and the first prize of the Cangzhou City Scientific and Technological Progress Award. The DMSS has won the second prize of the Cangzhou City Scientific and Technological Progress Award. In terms of process innovation, the company has successfully developed the continuous production process and innovative green preparation process of intermediates such as DMSS and DMAS, and established a clean production, energy-saving and consumption reduction, and resource recycling production system for related products, effectively reducing the production cost of products and emissions of "three wastes". In 2022, it was rated as a "zero-waste factory in Hebei Province" by the Hebei Provincial Department of Industry and Information. In terms of production management, the company has established strict production management processes, quality control systems, and supplier evaluation and control systems, and has passed the ISO9001 quality management system certification as early as 2006, achieving full-process quality tracking and control from raw material procurement, production processing to finished product inspection. In addition, with years of technical accumulation in the synthesis and production of small organic molecules, the company is actively expanding and developing new products in emerging fields such as aerospace, electrical insulation, flexible displays, new energy, and microelectronics. It has successfully mastered the core technology of the production of important monomers BPDA for special material polyimide synthesis. The related products have been certified by some downstream customers and have achieved mass production and sales. In terms of finance, in 2023, 2024, and 2025, the company achieved operating incomes of approximately 377 million yuan, 454 million yuan, and 507 million yuan respectively; the net profits for the same period were approximately 84.85 million yuan, 116 million yuan, and 146 million yuan respectively.