According to news on March 16, Zhongyu Technology, a company to be listed on the Beijing Stock Exchange, has recently obtained the IPO approval issued by the China Securities Regulatory Commission and will enter the issuance stage. The company plans to raise about 325 million yuan in IPO, which will be used for mass production projects of flexible reinforced thermoplastic composite pipes.
According to the official website of the Beijing Stock Exchange, Zhongyu Technology’s application materials were accepted on August 26, 2022, passed the meeting on January 20, 2023, submitted for registration on February 16, and were registered by the China Securities Regulatory Commission on March 10. approval.
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According to the prospectus, the company intends to raise about 325 million yuan in IPO, which will be used for mass production of flexible reinforced thermoplastic composite pipes, steel-lined modified polyurethane wear-resistant pipes, testing center projects, and supplementary working capital.
The company stated that the purpose of implementing the fundraising project "Flexible Reinforced Thermoplastic Composite Pipe Mass Production Project" is to realize the industrialization of research and development results as soon as possible, help the company expand market share, expand application fields, and enhance industry influence.
Another fund-raising project "steel-lined modified polyurethane wear-resistant pipe mass production project", Zhongyu Technology introduced that the company grasps the development trend of the industry, and relies on years of technology and experience in the pipeline industry to lay out steel-lined modified polyurethane wear-resistant pipes in advance. Grinding pipe products have mastered the core key manufacturing technology, which can help the successful implementation of this fundraising project. In addition, new products are conducive to the company's development of new markets, creation of new product lines, and promotion of the company's healthy and sustainable development.
According to the data, Zhongyu Technology focuses on the R&D, production and sales of polymer material hoses for fluid transmission, providing specialized solutions and customized services for fluid transportation. Pipe two series, the products are widely used in shale oil and gas exploration, mine drainage, municipal fire protection, emergency rescue, agricultural irrigation and other fields.
The prospectus discloses that the company has obtained 124 patents, including 28 invention patents and 96 utility model patents.
In terms of performance, in 2022, the company will achieve an operating income of 607 million yuan, a year-on-year increase of 68.68%, and a net profit of 91.5953 million yuan, a year-on-year increase of 78.11%.
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