China Securities News (Wang Luo) The IPO of Baowu Carbon Industry Growth Enterprise Market was accepted by Shenzhen Stock Exchange on June 30, and was jointly sponsored by CITIC Securities and Hwabao Securities. The number of shares issued this time does not exceed 250 million shares (excluding the number of shares issued through the over-allotment option), and it is planned to raise 3.012 billion yuan, which will be invested in the Zhanjiang Iron and Steel Base Baohua Zhanjiang 40,000 tons/year mixed-process phthalic anhydride project (2.12 100 million yuan), Lanzhou 100,000-ton anode material project (2 billion yuan), and supplementary working capital (800 million yuan).
As of the date of signing the prospectus, Baosteel directly holds 71.78% of the shares of Baowu Carbon, is the controlling shareholder of Baowu Carbon, and the State-owned Assets Supervision and Administration Commission of the State Council is the actual controller. The company is mainly engaged in the research and development, production and sales of tar refined products, benzene refined products and carbon-based new materials, as well as coke oven gas purification services. The company’s products are widely used in new energy, aviation, automobiles, metallurgy, non-ferrous metals, construction, medicine, pesticides, plastics and dyes, rail transit, building reinforcement, sporting goods and other fields. Baowu Carbon Industry is an important part of the new material industry in China Baowu’s “one base and five yuan” strategy. With the vision of “becoming a leader in China‘s new carbon material industry”, it is committed to the development of carbon-based new material industry. While cultivating tar refined products and benzene refined products, the company actively develops carbon-based new materials business, and gradually forms an industrial layout with carbon fiber and its composite materials, graphite electrodes, lithium-ion battery anode materials and other products as the core.
In terms of performance, from 2019 to 2021, the company’s operating income was 8.958 billion yuan, 5.720 billion yuan, and 10.631 billion yuan respectively; the net profit attributable to the parent company was 332 million yuan, 49 million yuan, and 373 million yuan respectively; Operating gross profit margins were 7.83%, 6.37% and 11.85%, respectively.
The prospectus shows that the total investment of this fundraising project is 4.319 billion yuan, and it is planned to use 3.012 billion yuan to raise funds. Among them, the “Zhanjiang Iron and Steel Base Baohua Zhanjiang 40,000-ton/year mixed-process phthalic anhydride project” is a further downstream extension of the company’s existing industrial chain, and an important measure to improve the company’s product diversification, product risk resistance and profitability. “Lanzhou 100,000-ton Anode Material Project” is a further downstream extension of the company’s existing industrial chain. The implementation of the project will effectively expand the production capacity of Baowu Carbon’s existing anode materials, which is in line with the company’s expansion, optimization and strengthening of carbon-based new materials. The development concept of the company can effectively help the development of downstream industries such as new energy vehicles and energy storage, and enhance the company’s competitiveness in the field of anode materials.
The company stated that during the planning period of 2022-2027, the company is positioned as a high-tech enterprise based on the advantageous production capacity of tar deep processing, extending along the carbon material industry chain, focusing on the development of carbon-based new materials, and leading industrial ecology, and is committed to working with the steel industry. and other synergistic coupling to provide users with comprehensive material solutions. The company will continue to achieve breakthroughs in the R&D and innovation of high-end new materials of the carbon family, and be the leader in ensuring the supply of carbon materials for national missions; the company is committed to becoming an innovation-led high-tech company and a high-revenue and high-profit industry leader.Return to Sohu, see more
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