On April 10, Jiangsu Changqingshu New Material Technology Co., Ltd., a domestic polymer new material special monomer and special additive company, landed on the Shanghai Stock Exchange. As of the close of the day, Changqing Technology closed at 44.60 yuan, a surge of 71.67%, with a total market value of 8.588 billion.
Fundraising Investing
Evergreen Technology issued 48.14 million ordinary shares (A shares) this time, with an issue price of 25.98 yuan per share. The 850 million yuan of the funds raised this time will be used by Changqing Technology in special polymer material additives and electronic special material manufacturing projects, and will mainly add methyl styrene (m/p/mixed), Production capacity of 50,000 tons, diisopropenylbenzene (m/p) annual production capacity of 10,000 tons, diethylbenzene and methyl ethyl benzene annual production capacity of 10,000 tons, new PL-30 annual production capacity of 30,000 tons, The production capacity is 10,000 tons, and the annual production capacity of triphenyl phosphite derivatives is 10,000 tons, and the annual production capacity of phenol-free phosphite is 10,000 tons.
It is understood that p-methylstyrene and diisopropenylbenzene are products that fill the gap in domestic industrialization, and are used to modify special rubber, special resin, special engineering plastics, etc., and have broad downstream applications
PL-30 is an important additive required for the production of adiponitrile, a raw material for the localization of nylon 66 (one of the main varieties of nylon). For a long time, PL-30 additive has been used by international chemical giants such as INVISTA and Ascend monopoly. It is reported that the consumption of PL-30 is about 10% of the production of adiponitrile, which is a must for the localization of adiponitrile. According to the domestic production of 450,000 tons/year of adiponitrile that is expected to be built in the future, it needs to consume 45,000 tons per year Phosphite PL-30. According to the planned production capacity allocation of the fund-raising investment projects, the company will increase the annual production capacity of PL-30 by 30,000 tons.
Company capacity
In terms of production capacity, the company's 10,000 tons/year dipropenylbenzene (1,3-diisopropenyl) plant has officially entered a stable mass production state in September 2022, and the product purity is greater than 98.5%. The special polymer material additives and electronic special material manufacturing projects raised by the IPO company will also be completed and put into production in the follow-up.
It is worth mentioning that the company was rated as a "Specialized, Specialized and New" Enterprise by China Petroleum and Chemical Industry Federation in 2021, and was awarded as a "Specialized, Specialized and New" Enterprise in Jiangsu Province in 2022. Up to now, Changqing Technology has a total of 71 patents, including 9 invention patents and 62 utility model patents, which have created a deep technical barrier for the company in the market competition.
Company Performance
From 2020 to 2022, Evergreen Technology will achieve revenue of 563 million yuan, 758 million yuan, and 964 million yuan respectively; realize net profits attributable to the parent company of 128 million yuan, 144 million yuan, and 191 million yuan, respectively, which are higher than the average value of comparable companies.
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