Lei Jianping on December 26
Chongqing International Composites Co., Ltd. (hereinafter referred to as "International Composites", stock code: 301526) was listed on the Growth Enterprise Market of the Shenzhen Stock Exchange today.
International Composite Materials issued 700 million shares at an issue price of 2.66 yuan and raised 1.862 billion yuan.
The opening price of international composite materials was 8.14 yuan, an increase of 206% from the issue price, and the company's market value is about 27.8 billion yuan so far.
Revenue in the first nine months was 5.28 billion, down 12% year-on-year
Founded in 1991, International Composite Materials is an important pillar enterprise of Yuntianhua Group's glass fiber new material industry. The company focuses on high-performance new materials, is committed to the development of high-performance products with stable quality and continuous innovation, provides customers with valuable services and application solutions, and is an enterprise with R&D, production and sales of glass fiber and composite materials as its core business.
International Composites has three sales subsidiaries, including North American companies, European companies and Hong Kong companies, and has production bases in Chongqing, Zhuhai, Changzhou and overseas Brazil, Bahrain, the United States and Morocco, with an annual production capacity of more than 1 million tons of glass fiber yarn and an annual production capacity of 200 million meters of glass fiber cloth. The company's glass fiber product varieties mainly include alkali-free glass fiber twisted roving, spinning yarn, chopped fiber, checker, fabric, etc.
International composite materials products are used in wind turbine blades, automobiles and rail transit, building materials, industrial pipe tanks, power insulation, electronic appliances, aerospace and other fields.
According to the prospectus, the revenue of International Composites in 2020, 2021 and 2022 will be 6.912 billion yuan, 8.3 billion yuan and 7.894 billion yuan respectively, the net profit will be 584 million yuan, 1.228 billion yuan and 1.252 billion yuan respectively, and the net profit after deducting non-profits will be 240 million yuan, 1.083 billion yuan and 982 million yuan respectively.
In the first half of 2023, the revenue of International Composites will be 3.516 billion yuan, and the net profit will be 346 million yuan and 202 million yuan.
In the first nine months of 2023, the revenue of International Composites was 5.283 billion yuan, down 11.66% from 5.98 billion yuan in the same period last year, the net profit was 462 million yuan, down 55.82% from 1.046 billion yuan in the same period last year, and the net profit after deducting non-profits was 290 million yuan, down 67% from 878 million yuan in the same period last year.
Yuntianhua Group is the majority shareholder
Before the IPO, Yuntianhua Group held 2,262,875,369 shares of the company, with a shareholding ratio of 73.69%, and was the controlling shareholder of the company. The State-owned Assets Supervision and Administration Commission of Yunnan Province directly holds 64.17% of the shares of Yuntianhua Group and is the actual controller of the company.
CCB Investment holds 0.94%, Yunnan Yunxi holds 15.09%, China Cinda (SS) holds 3.75%, Yunbo Zhixin holds 3.37%, and Power Control Group (CS) holds 3.16%.
After the IPO, Yuntianhua Group held 55.59% of the shares, Jianxin Investment (SS) held 0.71%, Yunnan Yunxi held 11.38%, China Cinda (SS) held 2.83%, Yunbo Zhixin held 2.55%, and Power Control Group (CS) held 2.39%.
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