A-shares Subscription | Betli (301697.SZ) has opened for subscription. The products are applied in fields such as photovoltaics, 3C electronics, and new energy vehicles.

On August 19, Beteli (301697.SZ) began its subscription process, with an issuance price of 12.1 yuan per share and a subscription limit of 13,500 shares. The price-to-earnings ratio is 27.39 times, and the company is listed on the Shenzhen Stock Exchange, with Guosen acting as its sponsoring institution. According to the prospectus, Beteli is a new materials enterprise oriented towards customer needs and driven by innovative research and development. Its main business revolves around the research, production, and sales of electronic materials and new chemical materials, covering three major sectors: conductive materials, silicone materials, and coating materials. The companys products are widely used in fields such as photovoltaics, 3C electronics, deep processing of silicone, electronic packaging, medical applications, and new energy vehicles. In the area of silicone materials, the company launched new products in the deep processing of silicone in response to customer needs, including flame-retardant adhesives, self-adhesive adhesives, medical adhesives, and LED packaging adhesives. At the same time, the key raw material for its silicone materials, platinum catalysts, was primarily reliant on imports, leading to higher costs. To reduce procurement costs, the company successfully developed platinum catalysts based on its robust technological foundation, meeting its production needs for silicone products while also marketing these catalysts, thereby achieving import substitution through innovative technology and high-quality products. In the field of coating materials, the company has introduced a series of products, including high wear-resistant and weather-resistant coatings, UV transfer adhesives, and water-based coating materials, continuously expanding its product variety and application areas. During this period, with the development of smartphones, keyboard-less phones represented by Apple began to gradually gain popularity and become mainstream, resulting in a decreased demand for button coating materials in the mobile phone industry. Consequently, the application scope of the companys coating materials shifted from mobile phone buttons to the 3C electronics field, primarily focused on laptops. During the reporting period, the companys operating income by product classification is as follows: In the photovoltaics field, the companys main clients include notable photovoltaic companies such as Shanghai Silver Paste, Wuxi Dk Electronic Materials Co., Ltd. (300842.SZ), and Huasheng New Energy; in the 3C electronics sector, its products are widely used in renowned 3C electronic brands such as Lenovo, Huawei, and Xiaomi; in the deep processing of silicone field, the companys major customers include well-known silicone enterprises like Hubei Huitian New Materials (300041.SZ) and Aiken Silicone; in the electronic packaging sector, its main clients are well-known LED enterprises such as MLS Co., Ltd. (002745.SZ) and Shenzhen MTC Co., Ltd. (002429.SZ); in the medical field, its primary clients include prominent medical companies like Jiangsu Yuyue Medical Equipment & Supply (002223.SZ) and Aiken Bio; in the new energy vehicle sector, its products have been successfully integrated into the supply chain systems of well-known automakers such as Li Auto and BYD Company Limited. In terms of finances, for the years 2023, 2024, and 2025, the company expects to achieve operating revenues of approximately 2.273 billion yuan, 2.521 billion yuan, and 3.646 billion yuan respectively; during the same period, net profits are projected to be approximately 86 million yuan, 97 million yuan, and 116 million yuan.