A few days ago, the Securities Regulatory Commission announced the initial public offering of shares of Hangzhou Fumou New Material Technology Co., Ltd. (Reported on March 28, 2017)
The prospectus (declaration draft) shows that the company intends to issue 13,058,100 RMB common shares (A shares) for the initial public offering. After deducting the issuance expenses, the company will invest in a PVDF film project for photovoltaic module backsheets, and functionally bondable transparent fluorine Membrane project and new energy functional film R & D center.
After the project is completed and put into operation, it will add an annual output of 200 million square meters of PVDF film for photovoltaic module backsheets, and an annual output of 40 million square meters of functional adhesive transparent fluorine film. 335 million square meters.
The company's main products are:
The company specializes in the research and development, production and sales of new chemical materials and special organic functional films. At present, its main products are functional fluorine film materials (PVDF films). Widely used in membrane structure building, photovoltaic module packaging, glass curtain wall, automotive window film, interior decoration, composite material panel and many other fields.
Revenue in recent years:
From 2014 to 2016, the company's operating income was 58.131 million yuan, 144,636,300 yuan and 227,594,400 yuan, respectively.
Major customers:
In 2014, 2015 and 2016, the company's sales revenue to the top five customers accounted for 96.62%, 95.57% and 94.35% of the total operating income of the current period.
Profitability:
Fumian Technology completely adopts products with independent intellectual property rights technology and processing technology. Based on this, in 2016, it broke the import monopoly and became the second largest supplier of photovoltaic backsheet outer layer protection materials in the world.
During the reporting period, the sales volume of fluorine film for photovoltaic cell modules produced by the company showed a continuous growth trend. In 2014, 2015 and 2016, the sales volume of fluorine film for photovoltaic cell modules produced by the company were 10.14553 million square meters and 34.459 million square meters respectively. And 61,317,500 square meters, with sales income of 55,704,700 yuan, 142,397,800 yuan and 226,459,900 yuan, respectively. The company's sales revenue is in line with the growth trend of sales volume.
At the same time, the prospectus disclosed that the company's product specifications will gradually evolve from 25μm to 22.5μm and 20μm.