On September 25, Jiangsu Hengxing New Material Technology Co., Ltd. was listed on the main board of the Shanghai Stock Exchange. Jiangsu Hengxing New Materials Technology Co., Ltd. was established in 2006. After 17 years of technology development and customer accumulation, the company’s core products and technologies of organic ketones, esters, and acids have taken a leading position in domestic segments. This time, Jiangsu Hengxing New Materials Technology Co., Ltd. (stock abbreviation “Hengxing New Materials”, stock code 603276) issued 40 million shares at an initial issue price of 25.73 yuan per share. The funds raised will be used to enhance the company’s production capacity, optimize product structure, accelerate the leap-forward development of the company’s main business, and further increase market share and comprehensive strength.
Wang Hengxiu, general manager of Jiangsu Hengxing New Materials Technology Co., Ltd., said that Hengxing New Materials is the first enterprise in China to integrate and serialize production of organic ketones, organic esters and organic acids. In the industrial chain of the fine chemicals industry, some companies can achieve one or more products to be the first in the country or the world leader, but few leading companies in the entire industry emerge.
Hengxing New Materials can produce and is developing more than 100 varieties of fine chemicals, which basically involve all aspects of the national economy. At present, green pesticide intermediates, lithium battery electrolyte additives, environmentally friendly coatings, green feed additives that “replace antibiotics”, and high-end environmentally friendly solvents are the company’s main products. Hengxing New Materials belongs to the fine chemical industry. The company purchases bulk chemicals as raw materials and focuses on the industrial chain layout of organic ketones, organic esters and organic acids. It effectively comprehensively utilizes, researches and develops, produces and sells specialty fine chemicals with high added value and large downstream market space. chemical product. The company is a high-tech enterprise and has 58 patents, including 14 invention patents. Some core products such as 3-pentanone, methyl isopropyl ketone, and isobutyric acid are internationally competitive, reducing the domestic market’s dependence on imported similar products; for propyl propionate, ethyl propionate, and ethyl butyrate and other products, the company is the main supplier of similar products in China. The company’s related products are mainly used in high-efficiency, low-toxicity, environment-friendly pesticides, lithium battery electrolytes, flavors and fragrances, environmentally friendly coatings, medicine and other fields.
From 2020 to 2022, Hengxing New Materials’ operating income was 428 million yuan, 518 million yuan, and 677 million yuan respectively, with revenue growth rates of 13.49%, 21.00%, and 30.70% respectively, showing a rapid growth trend. The better competitive landscape allows the company’s related products to maintain profitability higher than the average level of the chemical industry. Hengxing New Materials’ net profit attributable to the parent company in 2022 was 93.2787 million yuan, maintaining year-on-year growth despite the industry downturn, with a comprehensive gross profit margin of 27.68%. .
3-Pentanone is one of the core products of Hengxing New Materials. As a pesticide and pharmaceutical intermediate, it has strong market demand. The company’s 3-pentanone has broken the product monopoly of internationally renowned chemical companies (Eastman, Odiya). According to the certificate issued by the China Petroleum and Chemical Industry Federation, the company’s 3-pentanone products ranked first in the national market segment share and ranking from 2021 to 2022, and the share and ranking in the international market segment increased from second to second. promoted to first place.
As of now, the total production capacity of Hengxing New Materials is 275,600 tons, of which the total production capacity of the three major categories of ketones, acids and esters is 239,800 tons, and the production capacity of other products is 35,900 tons. After the implementation of the investment projects raised by Hengxing New Materials from this IPO, it will further expand the production capacity of feed additives, food additives, environmentally friendly solvents and other products and increase market share. At the same time, the company will implement scale, integration, green and high-end strategies, increase the added value of products and enhance market competitiveness.
Specifically, Shandong Hengxing Phase II Project (84,500 tons) will add 84,500 tons of benzoic acid equipment, 2-heptanone/methyl isobutyl ketone equipment, methyl isobutanol/ 2-Heptanol equipment and isobutyl isobutyrate equipment, etc., help to enrich the company’s product categories. The 100,000-ton annual organic acid and derivative product project will add 90,000 tons of organic acid and derivative product production capacity to the company. In addition, the supplementary working capital project will provide the company with 200 million yuan of working capital to optimize the financial structure, reduce financial risks, and meet the needs of Hengxing New Materials’ subsequent production and operation development.
微信扫一扫打赏
