Aosheng Technology launched IPO counseling in its field facing an imbalance between supply and demand
DATE:  Oct 18 2024

(1) Xu Wenqian, the head of Aosheng Technology, was born in 1974 and is a member of the Jiangsu Provincial Committee of the Chinese People's Political Consultative Conference and a member of the Suzhou Municipal Committee of the Chinese People's Political Consultative Conference.

(2) Before the IPO, Aosheng Technology conducted three rounds of financing, with CMB International Capital, China Life Investment, and China Development Financial Holding as investors.

"Science and Technology Innovation Board Daily" on October 18 (Reporter Chen Mei) Recently, Jiangsu Aosheng Technology Co., Ltd. (hereinafter referred to as Aosheng Technology) completed the listing counseling and filing, and the counseling agency is Haitong Securities. The reporter of "Science and Technology Innovation Board Daily" learned that the company only completed the share reform in September this year and changed it to a joint stock limited company, thus opening the road to IPO.

According to the data of the Venture Capital Connect of the Financial Associated Press, Aosheng Technology was established in 2002 and is mainly engaged in the design, development, production and sales of carbon fiber and its composite products. At present, the controlling shareholder of the company is Aosheng Technology Co., Ltd., which directly holds 43.63% of the shares.

Recently, the Ministry of Industry and Information Technology's National Key R&D Program 2024 project application guidelines were released, and the reporter of "Science and Technology Innovation Board Daily" noticed that 16 key projects including "high-end functional and intelligent materials, advanced structures and composite materials, new displays and strategic electronic materials" were covered.

Among them, the special project of "advanced structures and composite materials" involves high-performance polymer materials and composite materials including "carbon fiber".

As the head of Aosheng Technology, the founder Xu Wenqian was born in 1974 and is a member of the Jiangsu Provincial Committee of the Chinese People's Political Consultative Conference and the Suzhou Municipal Committee of the Chinese People's Political Consultative Conference. Wuzhong District, Jiangsu Province, where Aosheng Technology is located, is deeply engaged in the field of new materials, and new materials have become the fourth 100-billion-level industrial cluster in the local area.

On the project side, in January this year, Aosheng Technology made efforts in carbon fiber composite products for hydrogen energy vehicles, and the main structure of the third phase of the project in Wujiang, Suzhou has been capped. Xu Wenqian, chairman of Aosheng Technology, said that the project is based on large-capacity hydrogen storage cylinders, and aims to promote low-cost and clean transportation of large heavy trucks and logistics vehicles. The project plans to build an automated production line with an annual output of 100,000 hydrogen storage cylinders, and the new output value is expected to exceed 2 billion yuan.

In terms of primary market financing, Aosheng Technology has conducted three rounds of financing, and China Development Financial Holdings will take the lead in participating in its Pre-A round of financing in 2023; Subsequently, CMB International Capital and China Life Investment launched the company's Series A financing this year; In April this year, Aosheng Technology once again completed the A+ round of financing, with the participation of CMB International Capital, Pingwang Investment and DT Capital.

In the field of "carbon fiber", the reporter of "Science and Technology Innovation Board Daily" noticed that there are many companies such as Zhongfu Shenying (688295), Guangwei Composite Materials (300699), Kingfa Technology (600143) and so on.

Among them, Zhongfu Shenying (688295) is deeply engaged in strategic fields such as aerospace, wind, solar and hydrogen, and gradually radiates emerging tracks such as low-altitude flight eVTOL, electronic 3C, and high-end equipment. Aosheng Technology also takes fan blades, 3C electronics, and automobile lightweight as the growth pole of the industrial pattern.

According to the financial report, in the first half of the year, Zhongfu Shenying (688295) revenue was 732.2 million yuan, a year-on-year increase of -30.63%; net profit was 24.97 million yuan, down 88.7% year-on-year; Earnings per share amounted to $0.03, excluding non-earnings per share of -$0.02.

Regarding the decline in performance, Zhongfu Shenying (688295) said in the interim report that on the one hand, due to the rapid growth of production capacity in the carbon fiber industry, there is an imbalance between supply and demand; On the other hand, the reduction of product sales prices has directly affected the company's operating income and profit scale.

In addition, the reporter noted that the research project of Zhongfu Shenying (688295) also involves the development and application promotion of hydrogen-grade high-strength and high-ductility medium-mold carbon fiber in the field of hydrogen energy. Collection

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