The modified engineering plastics company Bensong New Materials plans to be listed on the Shenzhen Stock Exchange, raising 589 million!

EnvironmentalBall Polyurethane News: On July 29, Hangzhou Bensong New Material Technology Co., Ltd. announced that the company submitted a prospectus for the initial public offering of stocks on the Growth Enterprise Market. This time, it is planned to sprint to be listed on the GEM of the Shenzhen Stock Exchange, and the issued shares will not exceed 25.4318 million shares. The company’s shareholders will not publicly issue shares, and the publicly issued shares will account for no less than 25% of the company’s total share capital after the issuance.

According to the data, Bensong New Materials has been engaged in the research and development, production and sales of modified engineering plastics. The company’s main business is the research and development, production and sales of modified engineering plastics, and its main products are modified engineering plastic particles based on modified polyamide (PA).

At present, it has formed a product structure with modified PA as the main, other modified engineering materials as the supplement, and the overall solution as the core goal. The company’s products can be divided into modified PA6 series, modified PA66 series, and modified high temperature nylon series. And other modified engineering plastics series (mainly PBT, PET), the application fields cover low-voltage electrical appliances, automobiles, heat-dissipating materials, electronic connectors, etc.

The company’s products have excellent performance and stable quality, and have won wide recognition from customers. According to the statistics of China Plastics Processing Industry Association, in 2019 and 2020, the halogen-free flame retardant reinforced polyamide composite materials produced by the company ranked first in the domestic market share in the field of low-voltage electrical appliances.

From 2018 to 2020 and the first half of 2021, Bensong New Materials achieved operating income of approximately RMB 504 million, RMB 557 million, RMB 667 million and RMB 474 million, respectively; the corresponding attributable net profit was approximately RMB 17.6097 million and RMB 54.5404 million respectively. Yuan, 67.7311 million yuan, 19.4155 million yuan.

It is understood that the investment amount of this fundraising project is 764 million yuan, and the planned investment amount is 589 million yuan. The fundraising projects are the industrialization construction projects of high-performance modified polymer materials (including high-performance modified polymer materials with an annual output of 50,000 tons). The industrialization construction project of polymer materials (Linping), the first-phase production project of high-performance modified engineering plastics and products (Wuhu), the construction project of R&D and technology innovation center, and the project to supplement working capital, the raised funds to be used are 285.5255 million respectively. yuan, 153.431 million yuan, 50 million yuan, 100 million yuan.