Chief Reporter of Upstream News Liu Yong, intern Li Si-nian
Editor/Cai Haiyan
On December 15, Chongqing Changjiang Modeling Materials (Group) Co., Ltd. (Changjiang Materials 001296) will conduct online and offline subscriptions, and publicly issue 20.55 million new shares at an issue price of RMB 25.56 per share. The net proceeds are expected to be RMB 454.5 million. .
As the “king of casting materials segmentation”, Changjiang Materials is Chongqing’s fifth new stock this year and the sixth Chongqing company listed this year.
On December 14, the online roadshow for the first public offering of Changjiang Materials was held on Panorama. The actual controller chairman Xiong Ying, managing director Xiong Jie and other top executives appeared.
Chairman Xiong Ying said that the reclaimed sand business will improve the construction of three bases along the Yangtze River, enter the North China, Liaodong Peninsula and Shandong Foundry Industrial Parks, and establish waste foundry sand regeneration cores in each park.
▲The second from the left is the managing director Xiong Jie, and the third from the left is the chairman Xiong Ying.
The brothers together hold 60.33% before the issuance
According to the data from Tianyan Check, Changjiang Materials is registered in Beibei District, Chongqing. The predecessor of the company, Changjiang Co., Ltd., was established on August 8, 1996. In June 2012, it was changed into a joint stock company as a whole. The controlling shareholders and actual controllers are Xiong Ying and Xiong Jie. Two brothers.
Xiong Ying holds 20,416,448 shares, 33.12% of the shares, Xiong Jie holds 16,777,548 shares, 27.21% of the shares, and the two together hold 60.33% of the company.
Chairman Xiong Ying, born in February 1957, Chinese nationality, no permanent residency abroad, senior engineer, MBA. Xiong Ying once studied at Sichuan Industrial School, majoring in light machinery, and majoring in mathematics and computer science at Southwest China Normal University.
In his early years, Xiong Ying taught at Fangjia No. 2 Primary School in Renshou County, Sichuan Province, and later worked as a technician at Yibin Changjiang Paper Company; from 1982 to 1985, worked as a technician at Chongqing Glass Refractory Material Factory; from 1985 to 1989, worked as a Beibei Light Industry Refractory Deputy director, acting director, and director of the material factory; from 1990 to 1992, he served as the general manager of Beibei Kiln Engineering Company; founded Changjiang Materials in 1992 and is now the chairman.
Managing Director Xiong Jie, born in January 1965, Chinese nationality, no permanent residency abroad, bachelor degree, graduated from Southwest Agricultural University majoring in business administration.
In his early years, Xiong Jie worked as a custodian at Lingyang Grain Station in Renshou County, Sichuan Province, and later as a plant manager at the Sichuan National Grain Reserve. He joined Changjiang Materials in 1999 and is now the managing director. After the issuance of new shares of Changjiang Materials, Xiong Ying and Xiong Jie still hold 45.25% of the total share capital.
Estimated net proceeds of 454.5 million yuan
According to reports, Changjiang Materials is leading the industry in terms of production capacity, market share, and research and development capabilities in the field of foundry coated sand. In the field of reclaimed sand, the company’s self-developed CZS series of casting recycling equipment have mature technology and are used by dozens of foundry companies. Provide waste sand recycling services, such as Dongfeng Motor, China National Heavy Duty Truck, Toyota Motor, Changan Automobile, etc.
In the online roadshow, for competitors, Chairman Xiong Ying said that the coated sand industry includes Chengde Beiyan New Material Technology Co., Ltd., Jingying Casting Materials (Suzhou Industrial Park) Co., Ltd., Tongliao Dalin Molding Sand Co., Ltd., etc. The proppant industry mainly includes Beijing Qixiangda New Material Co., Ltd. and Henan Tianxiang New Material Co., Ltd.
Zhou Lifeng, deputy general manager and secretary of the board of directors of Changjiang Materials, Jiang Shixue, director and chief financial officer, and Guo Gang and Wu Jianrui, sponsor representatives of China Sea Securities, also attended the online roadshow and communicated with investors.
Changjiang Materials publicly issued 20.55 million new shares this time. There is no transfer of old shares. The issue price is 25.56 yuan per share. The corresponding 2016 price-earnings ratio of the diluted net profit attributable to shareholders of the parent company after deduction of extraordinary gains and losses is 22.99 times. It is estimated that the total amount of funds raised is 525.258 million yuan. After deducting the issuance expenses (excluding tax) of 70.758 million yuan, the net amount of funds raised is estimated to be 454.5 million yuan.
The raised funds will be invested in the “Environmental Protection Coated Sand Production and Foundry Waste Sand Recycling Project” in Chongqing Tongliang Base, Shiyan Base in Hubei, and Xiantao Base. “Sand 79,200 tons project” and supplementary working capital. The total planned investment for the above-mentioned projects is approximately 482 million yuan.