Zhejiang Yatong New Material Co., Ltd. recently submitted a prospectus for its initial public offering and listing on the STAR Market (draft filing). The company plans to go public on the STAR Market, with this offering consisting of no less than 14.66 million new shares, representing no less than 25% of the total post-issuance share capital. The company expects to raise 508 million yuan in funding, which will be used for the construction of an advanced joining materials smart manufacturing industrialization base project, an advanced precious metal catalytic materials industrialization base project, and a technology innovation center construction project.
The company's main business is the research, development, production, and sales of high-performance non-ferrous metal materials. Its main products include non-ferrous metal brazing materials, precious metal catalysts, and high-performance metal alloy powders. The downstream application markets cover electronics, semiconductors, refrigeration, military, aviation, aerospace, pharmaceuticals, pesticides, and other fields. In 2020, 2021, and 2022, the company achieved operating revenues of 382 million yuan, 588 million yuan, and 640 million yuan, respectively; and net profits attributable to parent companies of 20.0411 million yuan, 33.7056 million yuan, and 44.7265 billion yuan, respectively.
The main raw materials for the company's precious metal catalyst products are platinum group precious metals such as rhodium and palladium. However, China's resources of platinum group metals are extremely scarce and mainly rely on imports. If, in the future, the supply of precious metal resources in China is affected by factors such as international political and economic conditions, it will have a significant impact on the production and operation of the company's precious metal catalyst business.
