Guangzhou Huigu New Materials Technology Co., Ltd. (Huigu New Materials) has updated its IPO application status on the Shenzhen Stock Exchange's ChiNext board to "submission for registration." CITIC Securities serves as the sponsor, with plans to raise RMB 900 million.

According to its prospectus, Huigu New Materials is a platform-based functional coating materials company specializing in polymer materials, driven by independent R&D. Its core product portfolio includes functional resins and functional coating materials. The company aims to become a global leader in technological innovation for functional materials.

With molecular structure design as its technical foundation, Huigu New Materials focuses on R&D and industrial application of key functional resins, establishing dual technology platforms for functional resins and coating materials to build competitive advantages. Leveraging these platforms, the company has developed coating material systems with optical modulation, conductive/thermal properties, mechanical reinforcement, and corrosion/weather resistance, forming a "1+1+N" industrial layout targeting home appliances, packaging, new energy, and electronics sectors.

The company holds strong market positions in its segments, commanding over 60% and 30% domestic market shares in heat exchanger energy-saving coatings and metal packaging aluminum lid coatings, respectively. Proceeds from the IPO will be fully allocated to core business development, prioritized as follows:

Financially, the company reported revenues of approximately RMB 664 million, RMB 717 million, RMB 817 million, and RMB 496 million for 2022, 2023, 2024, and H1 2025, respectively. Net profits during the same periods were RMB 25.95 million, RMB 106 million, RMB 146 million, and RMB 107 million.