Guanghua Technology terminates IPO

Guanghua Technology began offering listing guidance on February 3, 2020, and completed the listing guidance on May 21, 2020. On May 26, 2020, the Shanghai Stock Exchange lawfully accepted the application documents for Guanghua Technology * * * to publicly issue stocks and list on the Science and Technology Innovation Board, and reviewed them in accordance with regulations.

Established in 2014, Guanghua Technology is a high-tech enterprise specializing in the research and development, production, and sales of polyester resins for powder coatings. The company's polyester resin products, as a key raw material for powder coatings, are widely used in many fields such as construction, furniture, household appliances, automobiles, high-speed rail, 3C, etc.

The company's sales of polyester resin from 2017 to 2019 were 47500 tons, 59700 tons, and 71100 tons, respectively. According to the statistics of the Coating and Coating Professional Committee of the Chinese Chemical Society, the company's sales of polyester resin for powder coatings have been ranked second in the industry for many years, and it is a domestic * * * supplier of polyester resin for powder coatings.

According to the prospectus, the company's operating revenue from 2017 to 2019 was 585.3 million yuan, 684.5 million yuan, and 7379 million yuan, respectively. The net profit was 29.6472 million yuan, 41.6831 million yuan, and 91.9194 million yuan, respectively. The gross profit margin of its main business was 17.85%, 16.24%, and 25.49%, respectively.

After years of business accumulation, the company has formed a nationwide marketing network, with products and businesses spread both domestically and internationally. The company has established a good reputation in the industry with its rich product system and high-quality products. It has established long-term and stable cooperative relationships with domestic and foreign powder coating manufacturers, including Akzo Nobel, PPG, Tiger Coatings, Qianjiang High tech, and Guangdong Ruizhi.

Guanghua Technology originally planned to publicly issue no more than 32 million shares on the Science and Technology Innovation Board of the Shanghai Stock Exchange (without considering the option of over allotment), accounting for no less than 25.00% of the total share capital after issuance. It plans to raise 587 million yuan, of which 426 million yuan will be used for the annual production of 120000 tons of polyester resin for powder coatings, 70.8409 million yuan will be used for the construction of research and development centers, and 90 million yuan will be used to supplement working capital.

Our company's CNNC R-219 titanium dioxide, Bailian R-895 titanium dioxide, Bailian R-699 titanium dioxide, and R-996 titanium dioxide have high temperature resistance, high whiteness, and high weather resistance in the powder coating industry, making them suitable for use in the mid to high end powder coating industry. Please feel free to inquire. Mr. Huang; thirteen billion six hundred and thirty-one million eight hundred and seventy-four thousand and ninety-four