Lei Jianping on April 11
Sinolong New Materials Co., Ltd. (hereinafter referred to as "Sinolong New Materials") has recently passed the registration and is preparing to be listed on the Growth Enterprise Market of the Shenzhen Stock Exchange. Sinolong New Materials plans to raise 2.273 billion yuan.
Among them, 952 million yuan will be used for high-performance film project - high-functional BOPA film industrialization project, 410 million yuan will be used for high-performance film project - new bio-based degradable film industrialization project, 509 million yuan will be used for high-performance polyamide material industrialization project, and 400 million yuan will be used to supplement working capital and repay bank loans.
The annual revenue is 2.35 billion
Sinolong New Materials is an innovative enterprise focusing on the R&D and production of functional film materials, mainly engaged in the R&D, production and sales of functional BOPA films, biodegradable BOPLA films and polyamide 6 (PA6) and other related material products.
Focusing on functional BOPA film products, Sinolong New Materials vertically covers 6 upstream polyamide fields, and horizontally expands to the field of new film materials based on biaxially oriented common technology, successfully realizing the industrial production of biodegradable BOPLA films.
According to the prospectus, the revenue of Sinolong New Materials in 2021, 2022 and 2023 will be 1.994 billion yuan, 2.297 billion yuan and 2.352 billion yuan respectively, the net profit will be 298 million yuan, 285 million yuan and 206 million yuan respectively, and the net profit after deducting non-profits will be 281 million yuan, 269 million yuan and 200 million yuan respectively.
Sinolong New Materials expects revenue of 540 million to 580 million yuan in the first quarter of 2024, a year-on-year change of 13.53% to 21.93%, an estimated net profit of 53.5 million to 63.5 million, a year-on-year change of -19.28% to -4.19%, and an estimated non-net profit of 51.5 million yuan to 61.5 million yuan, a year-on-year change of -19.59% to -3.98%.
Yang Qingjin controls 80% of the shares
As of the date of this Prospectus, Yang Qingjin directly held 4.95% of the equity interest in the Company, in addition, indirectly controlled 61.5% of the voting rights of the Company through holding Zhonglun Group, Yang Qingjin indirectly controlled 9% of the voting rights of Zhonglun Haiqing as the executive partner, and Yang Qingjin indirectly controlled 4.5% of the voting rights of the Company as the executive partner controlling Zhonglun Haijie.
Therefore, Yang Qingjin controls a total of 79.95% of the voting rights of the company and is the actual controller of the company.
Yang Qingjin, born in September 1965, has a bachelor's degree. From September 1994 to February 2022, he served as the vice chairman of Xiamen Xinguan Trading Co., Ltd., from January 1996 to August 2020, as the general manager of Xiamen Xinquan Plastic Products Co., Ltd., from December 2003 to June 2004, as a director of Xiamen Changkai Investment Co., Ltd., and from April 2004 to December 2010, as a director of Fujian Changkai Plastic Industry Co., Ltd.
Yang Qingjin has served as the executive partner of Zhonglun Haiqing and Zhonglun Haijie since August 2019, the executive director and manager, the chairman and general manager of Sinolong Co., Ltd. from November 2018 to May 2021, and the chairman of Zhonglong New Materials since June 2021.
Yang Jie is the son of Yang Qingjin, the actual controller of the company, and Yang Jie is a person acting in concert with Yang Qingjin. Yang Jie directly holds 0.05% of the company's equity, and Yang Jie does not hold any position in the company or its subsidiaries, and Yang Jie holds 40%, 1% and 1% of the equity/partnership property shares of shareholders Zhonglun Group, Zhonglun Haiqing and Zhonglun Haijie respectively.
In addition, Strait holds 15% of the shares, and Zhuhai Houzhong holds 5%.
After the IPO, Zhonglong Group held 52.27% of the shares, Strait held 12.75% of the shares, Zhonglun Haiqing held 7.65% of the shares, Zhuhai Houzhong held 4.25% of the shares, Yang Qingjin held 4.21% of the shares, and Zhonglun Haijie held 3.82% of the shares.
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