Huixin New Materials' IPO on the GEM has been approved at the listing committee meeting, focusing on the field of polymer materials.

On December 9, Guangzhou Wynn New Materials Technology Co., Ltd. (referred to as Wynn New Materials) passed the listing committee meeting of the ChiNext Board of the Shenzhen Stock Exchange. The sponsor of the IPO is CITIC SEC, with a planned fundraising amount of 900 million yuan. According to the prospectus, Wynn New Materials is a platform-type functional coating material enterprise focusing on the field of polymer materials, driven by independent research and development. Its main product system covers two major categories of functional resins and functional coating materials. The company is committed to becoming a global leader in innovative functional materials technology. The company's main business is the research and development, production, and sales of functional resins and functional coating materials, with molecular structure design as the technical foundation. It focuses on the key technology research and industrial application of core functional resins, builds two technological platforms for functional resins and functional coating materials, and establishes core competitive barriers. Functional resins are key materials for functional coating materials, determining the basic performance of functional coating materials. Their design and large-scale production have high technical and process thresholds. Functional coating materials are coated on the surface of substrates, giving the substrates specific functions, and are widely used in home appliances, packaging, new energy, electronics, and other fields. The products mainly sold by the company are functional coating materials. By integrating and collaborating on the dual technological platforms of functional resins and coating materials, closely combining the development context of the national economy and the demand map for key materials, the company has successfully developed a series of coating materials system with multiple properties such as optical control, conductivity, thermal conductivity, mechanical reinforcement, and corrosion resistance, and has formed an "1+1+N" industrial layout system for four downstream application scenarios including home appliances, packaging, new energy, and electronics. The company's main products have achieved a certain market position in their respective subfields and have strong competitive advantages. In the fields of heat exchanger energy-saving coating materials and metal packaging aluminum cap coating materials, the company's domestic market share exceeds 60% and 30%, respectively. The funds raised from this issuance will be used entirely for the development of the main business. After deducting issuance expenses, the funds raised will be used in order of urgency for the company's main business, as follows: Financially, the company is expected to achieve operating income of approximately 664 million yuan, 717 million yuan, 817 million yuan, and 496 million yuan in the fiscal years 2022, 2023, 2024, and January-June 2025, respectively. During the same period, the company's net profit is expected to be approximately 25.95 million yuan, 106 million yuan, 146 million yuan, and 107 million yuan, respectively.