IPO of Future Materials Innovation Board "terminated", focusing on high-performance fluorinated functional films.

On June 30th, Shandong Dongyue Future Hydrogen Material Co., Ltd. (referred to as "Future Material") had its IPO review status on the Shanghai Stock Exchange Science and Technology Innovation Board changed to "terminated." This was due to Future Material and its sponsor withdrawing their application for listing. According to the relevant provisions of the "Shanghai Stock Exchange Stock Issuance and Listing Review Rules" Article 63, the Shanghai Stock Exchange terminated the review of its listing. The prospectus shows that Future Material is mainly engaged in the research, development, production, and sales of high-performance fluorine-containing functional films and their key materials and derivative materials. Guided by national major demands, the company actively undertakes national projects, focuses on independent and controllable core raw materials, and import substitution of major products, forming an integrated industrial layout based on HFPO (hexafluoropropylene) as the basic raw material. The company has developed a product layout of high-performance fluorine-containing functional films and their key materials and derivative materials, providing key material support for important fields such as liquid flow energy storage batteries, hydrogen fuel cells, green hydrogen production, semiconductors, electrical power, and high-end chemical equipment. At the beginning of its establishment, the company focused on achieving independent and controllable industrial chain of proton exchange membrane for hydrogen fuel cells and upstream raw materials. Guided by this direction, the company continuously increased its research and development innovation efforts, rapidly improved product performance, gradually perfected its membrane product system, continued to research and develop and launch high-performance fluorine-containing functional membrane products such as liquid flow battery membranes, electrolysis water hydrogen membranes, ePTFE microporous membranes, expanded and extended PFA and hexafluoropropane oxide and downstream derivative materials product lines, achieved breakthroughs in diversified and coordinated development, and laid a solid foundation for the company's sustainable development. In the field of high-performance fluorine-containing functional films, the company is the first domestic enterprise and one of the few globally that can simultaneously mass-produce full-fluorine proton exchange membranes and their upstream raw materials full-fluorine ion exchange resins and key monomers. The related products and technologies are in a leading position internationally/domestically, with outstanding technological innovation and industrial application promotion capabilities, and the products are widely used in areas such as liquid flow batteries, hydrogen fuel cells, and green hydrogen production. It provides strong guarantee for the full chain independent controllable core equipment materials of the country's new energy critical industries. Based on the deep technological accumulation in the field of fluorine-containing functional films, the company is actively promoting the research and commercialization process of new products such as ePTFE (expanded polytetrafluoroethylene) membrane and ETFE (ethylene-tetrafluoroethylene copolymer) membrane. In the field of key materials and derivative materials of high-performance fluorine-containing functional films, the company is the first domestic enterprise to achieve mass production of ETFE, and the related products of ETFE have reached the international advanced level, breaking the foreign technology monopoly and providing important support for the independent controllable industry chain in China. The company has independently developed two derivative material product lines, namely fluorine-based surfactants and hexafluoropropane oxide and downstream derivative materials, widely used in the production of fluorine-based polymers and fluorine-based fine chemicals. The net proceeds from the company's public offering of shares this time, after deducting issuance expenses, are intended to be invested in the following projects: Financially, in the 2022 fiscal year, 2023 fiscal year, 2024 fiscal year, and January-June 2025, the company's operating income is expected to be approximately RMB 524 million, RMB 721 million, RMB 640 million, RMB 349 million, respectively; during the same period, net profit is expected to be RMB 143 million, RMB 230 million, RMB 165 million, RMB 92.6691 million, respectively.