Dejun Technology's IPO application on the ChiNext board has been questioned, with its main business focusing on electronic specialty polymer materials.

On July 16th, Guangdong Deju Technology Co., Ltd. (referred to as Deju Technology) applied for a change in the status of its listing audit on the Shenzhen Stock Exchange ChiNext board to "Inquiry Received", with CITIC SEC as its sponsoring institution, planning to raise 1 billion 48 million yuan. The prospectus shows that Deju Technology is a company focused on the research and development, production, and sales of electronic special polymer materials, with its main product being electronic adhesives. It provides supporting application solutions around specific adhesive usage scenarios for customers, and has established product layouts covering areas such as intelligent terminals, new energy, semiconductors, and communications. In each application field, the company has formed a product matrix centered around products with high revenue ratios or products that have been introduced into customer systems, including: components encapsulation adhesives, structural bonding sealants, high reliability epoxies in the field of intelligent terminals; magnetic core adhesives, sealing reinforcements, sealants, and three-proof coatings in the new energy sector. In the semiconductor field, it mainly includes thermal interface materials, bottom filling adhesives, AA process adhesives, chip encapsulation isolation films, chip bonding adhesives (DAF), and anisotropic conductive film adhesives (ACF); In the communication sector, it mainly includes electromagnetic shielding adhesives, optical module sealing adhesives, and AI power module thermal bonding adhesives. Data provided by the China Adhesives and Adhesive Tape Industry Association shows that by 2025, the company's market share in China is approximately 1.5%, ranking among the top four domestic manufacturers in the Chinese market. During the reporting period, the sales amounts from the company's top five customers accounted for 51.84%, 51.47%, and 55.28% of the operating income, indicating a high level of customer concentration. The company's major clients include global renowned electronic manufacturing companies or their supply chain clients such as Suzhou Dongshan Precision Manufacturing, Luxshare Precision Industry, Avary Holding, Amphenol, Qisheng Electronics, and Sanmina. After deducting the issuance expenses from the funds raised, the company will implement the following projects in an orderly manner according to actual operational needs and market conditions: Financially, in the years 2023, 2024, and 2025, the company is expected to achieve operating incomes of approximately 351 million yuan, 385 million yuan, and 458 million yuan respectively. During the same period, the net profits are expected to be approximately 42.12 million yuan, 67.45 million yuan, and 123 million yuan respectively.