On November 16, Chongqing Changjiang Modeling Materials (Group) Co., Ltd. issued a letter of intent for initial public offering (IPO). It plans to issue 20.55 million new shares, which will account for no less than 25% of the total share capital after the issuance. The stock abbreviation is ” “Yangtze River Materials”, the stock code is “001296”. After the issuance, the company’s shares will apply for listing on the Shenzhen Stock Exchange.
China Sea Securities is the sponsor (lead underwriter) of this issuance.According to the issuance arrangement, the initial inquiry time of Changjiang Materials isOn November 18th, the online and offline subscription time will be November 24th.
Upstream news reporters learned that the three sheep and horses will beThe subscription on November 18th, together with the previously listed Shanghai Stock Exchange Main Board Chongqing Bank, Sifang New Materials, Beijing Stock Exchange’s Xin’anjie, and China Engineering Consulting, the number of Chongqing enterprises listed will reach 6 this year.
For an enterprise in Beibei District, Chongqing
According to the data from Tianyan Check, Changjiang Materials was registered in Beibei District, Chongqing. The predecessor of the company, Changjiang Co., Ltd., was established inOn August 8, 1996, in June 2012, it was changed into a joint-stock company as a whole. The controlling shareholder and actual controller were Xiong Ying and Xiong Jie brothers.
As a large-scale professional coated sand production supplier and waste (used) sand resource solution provider in China, the company currently has production bases in Chongqing, Hubei, Jiangsu, Sichuan, Shandong, Yunnan, Inner Mongolia and other places.There are 30 advanced automated coated sand production lines and resin coated proppant production lines, 20 foundry waste (used) sand regeneration production lines, 4 scrubbing sand and 4 calcined sand production lines, and 6 sand core production bases.
The company’s casting material series products are widely used in the production of castings in industries such as automobiles, motorcycles, internal combustion engines, agricultural machinery, and construction machinery; fracturing proppants are used in oil, natural gas and shale gas extraction.The company has obtained the national patent intellectual property certificate140 (including 44 invention patents).
The reclaimed sand type coated sand developed by the company,“Changjiang Kangte” environmentally friendly coated sand and “Changjiang Saite” inorganic coated wet sand are innovative products of green casting. The CZS waste (used) sand regeneration technology and equipment developed by them are in a leading position in China. Net profit achieved last year119 million yuan
Financial data shows thatFrom January to June in 2018, 2019, 2020, and 2021, Yangtze River Materials realized operating income of 740.4483 million yuan, 861.898 million yuan, 946.1191 million yuan and 461.3329 million yuan, respectively.
The net profits attributable to the parent during the same period were92,408,800 yuan, 104,063,300 yuan, 119,582,200 yuan, and 5,409,300 yuan, all of which maintained steady growth in revenue and net profit.
According to the announcement, Changjiang Materials plans to invest the funds raised in Tongliang Base, Shiyan Base and Xiantao Base.“Environmental-friendly coated sand production and foundry waste sand recycling project”, Changzhou base “newly built a new annual output of 72,000 tons of sand core, CCATEK environmentally-friendly coated sand 79,200 tons project” and supplementary working capital. The total planned investment of the above projects is about 482 million yuan, and it is estimated that about 455 million yuan will be used to raise funds.
After the implementation of the project, it will further increase the company’s market share in foundry sand, waste (used) sand regeneration treatment and fracturing proppant products, consolidate its leading position in the industry, improve the company’s financial status, and improve the company’s core competitiveness and Profitability.