On September 8, Zhongjuxin Technology Co., Ltd. (hereinafter referred to as "Zhongjuxin", SH: 688549) was listed on the Science and Technology Innovation Board of Shanghai Stock Exchange. In this listing, the issue price of Zhongjuxin is 5.18 yuan/share, the number of issued shares is 369.319 million, the total amount of raised capital is about 1.913 billion yuan, and the net amount of raised capital is about 1.807 billion yuan.

On the first day of listing, the opening price of China Giant Core was 15.12 yuan/share, 191.89% higher than the IPO price, and once rose to 15.55 yuan/share in the session. As of the closing, the shares of Zhongjuxin had closed at 14.61 yuan per share, up 182.05% from the issue price. According to this calculation, the total market value of China Giant Core is 21.583 billion yuan.

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According to the prospectus, Zhongjuxin focuses on the field of electronic chemical materials, mainly engaged in the R&D, production and sales of electronic wet chemicals, electronic special gases and precursor materials. It is understood that there are Zhejiang Kaisheng Fluorochemistry Co., Ltd., Zhejiang Borui Electronic Technology Co., Ltd., and Zhongjuxin (Hubei) Technology Co., Ltd. under Zhongjuxin.

According to Tianyan, Zhongjuxin was founded in December 2017, mainly invested by Juhua Shares (SH: 600160) and the National Investment Fund for Integrated Circuit Industry. At present, the registered capital of Zhongjuxin is about 111 million yuan, the legal representative is Tong Jihong, and the shareholders include Juhua Shares, the National Integrated Circuit Industry Investment Fund, etc.

In the prospectus, Zhongjuxin said that the company's products are widely used in the cleaning, etching, film forming and other manufacturing processes in integrated circuits, display panels, photovoltaic and other fields. During the reporting period, the company realized its operating income and profit mainly by selling electronic wet chemicals and electronic special gases to customers in downstream integrated circuits, display panels, photovoltaic and other fields.

In 2020, 2021 and 2022, the revenue of Zhongju Core will be about 400 million yuan, 566 million yuan and 799 million yuan respectively; The net profits were 23.6076 million yuan, 29.6542 million yuan and 3.4731 million yuan respectively, and the net profits after deducting non profits were 78.3 million yuan, -6.8216 million yuan and -7.3224 million yuan respectively.

Zhongjuxin said in the prospectus that the company's products are mainly electronic wet chemicals and electronic special gases, which are affected by the different investment and construction time of each product line. During the reporting period, the company's revenue was mainly electronic wet chemicals, and the revenue of electronic special gases was increasing year by year.

Among them, electronic wet chemicals include electronic grade hydrofluoric acid, electronic grade nitric acid, electronic grade sulfuric acid, electronic grade hydrochloric acid, electronic grade ammonia, buffer oxide etching solution, silicon etching solution, etc.; electronic special gases include high-purity chlorine, high-purity hydrogen chloride, high-purity tungsten hexafluoride, high-purity fluorocarbon gases, etc.; precursor materials include HCDS, BDEAS, TDMAT, etc.

Beiduo Finance learned that the revenue of Zhongjuxin is mainly contributed by electronic wet chemicals. During the reporting period, the revenue of Zhongju Core from electronic wet chemicals was 337 million yuan, 447 million yuan and 597 million yuan respectively, accounting for 91.98%, 83.18% and 81.36% of the main business revenue.

In addition, according to the prospectus, the revenue of China Giant Core in the first half of 2023 was 414 million yuan, an increase of 18.26% over 350 million yuan in the same period of the previous year; The net profit was 19.0164 million yuan, up 53.24% from 12.4096 million yuan in the same period of 2022; The net profit after non deduction is 176900 yuan, and the net loss after non deduction in the same period of 2022 is 870300 yuan.

At the same time, China Giant Core expects its revenue in the first nine months (the first three quarters) of 2023 to be 636 million yuan to 678 million yuan, with a year-on-year change of 10.30% to 17.62%; The net profit attributable to the parent company is expected to be 24.5534 million yuan to 35.6776 million yuan; It is estimated that the non net profit deducted will be from -1246500 yuan to 9877700 yuan.

Prior to this listing, there was no controlling shareholder or actual controller of China Giant Core. Before IPO, Juhua Shares and Industrial Investment Fund were the largest shareholders of the company, with the shareholding ratio of 35.1999%. At the same time, Hengxin Enterprise holds 9.7438%, Yuanzhi Fuhai 9.0256%, Yingchuan Fund (SS) 7.2205%, Shengxin Fund and Juyuan Juxin 1.8051% respectively.

At present, Tong Jihong is the chairman of Zhongjuxin, Hao Yiyang is the vice chairman of the company, Chen Gang is the director and general manager, and He Huilong, Zhang Xueliang, Chen Dongqiang and He Yonggen are all deputy general managers.