On July 17, the information disclosed by the Shanghai Stock Exchange showed that it had sent an inquiry letter to Zhuzhou Keneng New Materials Co., Ltd. (hereinafter referred to as "Zhuzhou Keneng"). According to Bedo Finance, Zhuzhou Keneng submitted the prospectus on June 21, 2023, preparing to be listed on the Science and Technology Innovation Board.
Zhuzhou Keneng plans to raise 588 million yuan in this sprint for listing on the Science and Technology Innovation Board, of which 470 million yuan will be used for the annual output of 500 tons of semiconductor high-purity material projects and recycling projects, 68.278 million yuan will be used for the construction project of the advanced rare metal materials research and development center, and 50 million yuan will be used to supplement working capital.
According to Tianyancha information, Zhuzhou Keneng was established in 2001, located in Zhuzhou City, Hunan Province, formerly known as Zhuzhou Keneng Honeycomb Material Co., Ltd. At present, the registered capital of the company is about 108 million yuan, the legal representative is Zhao Kefeng, and the main shareholders include Zhuzhou Keneng Advanced Materials Co., Ltd., Zhao Kefeng, etc.
According to the prospectus, Zhuzhou Keneng was established in January 2001. It has long been committed to the development and industrialization of III-V group chemical element material purification technology. It is mainly engaged in the research and development, production and sales of scattered metal elements such as gallium, indium, bismuth, tellurium and their oxides above 4N.
At present, Zhuzhou Keneng's products mainly include high-purity gallium, high-purity indium, and indium (4N5-5N) for targets such as ITO, indium oxide, gallium oxide and other electronic-grade scattered metal series products, and industrial-grade scattered metal series products such as industrial gallium, bismuth and bismuth oxide.
Among them, high-purity gallium, indium, tellurium and other scattered metals are the main basic materials of compound semiconductors, ITO, IGZO and other targets, and are important doping materials for p-type silicon wafers of solar cells.
Zhuzhou Keneng stated in the prospectus that the high-quality bismuth and its oxides produced by the company are important raw materials for electronic materials such as alloys and solders, high-end pigments, and pharmaceutical intermediates.
According to the prospectus, Zhuzhou Keneng’s revenue in 2020, 2021 and 2022 will be 339 million yuan, 571 million yuan and 679 million yuan respectively; the net profits will be 9.2147 million yuan, 28.6343 million yuan and 50.823 million yuan respectively, and the net profits after deducting non-profits will be 7.9598 million yuan, 26.1804 million yuan and 43.7315 million yuan respectively.
Bedouin Finance found that Zhuzhou Keneng’s income mainly comes from overseas. During the reporting period, the company's main business export revenue was 138 million yuan, 175 million yuan and 308 million yuan respectively, accounting for 41.10%, 30.78% and 45.52% of the main business income in the same period.
It is worth mentioning that the gross profit margin of Zhuzhou Keneng has fluctuated. During the reporting period, the company's main business gross profit margins were 12.04%, 16.11% and 13.55% respectively. Zhuzhou Keneng stated in the prospectus that the main reasons for fluctuations in the gross profit margin of its main business include industry competition, development of downstream industries, changes in demand, customer structure, and fluctuations in raw material prices.
Zhuzhou Keneng believes that advanced technology and strong product research and development capabilities are the key to the sustainable development of enterprises in the industry and to maintain their competitive advantages in the industry. During the reporting period, the company continued to increase R&D investment in key areas such as preparation methods and detection technologies for high-purity products and oxides of group III-V elements.
As of the signing date of the prospectus, Zhuzhou Keneng and its subsidiaries have obtained 38 authorized patents, including 15 invention patents and 23 utility model patents. According to Wisdom Bud data, Zhuzhou Keneng has a total of 69 patent application information, mainly focusing on electrolytes, production equipment, gallium oxide, preparation methods, non-ferrous metals and other technical fields.
Before the listing, Zhao Kefeng and Tang Yan were the actual controllers of Zhuzhou Keneng. According to the prospectus, Zhao Kefeng directly holds 23.74% of the company's shares, Keneng Advanced holds 27.05% of the company's shares, Zhao Kefeng and Keneng Advanced jointly control 50.80% of Zhuzhou Keneng's shares, and are the joint controlling shareholders of the company.
At the same time, Tang Yan directly holds a 2.93% stake in Zhuzhou Keneng. In addition, Zhao Kefeng serves as the executive partner of the two platforms of Zhuzhou Kailian and Zhuzhou Xinliancheng, indirectly controls 6.01% of Zhuzhou Keneng’s shares through Zhuzhou Kailian, and indirectly controls 1.31% of the company’s shares through acting as Zhuzhou Xinliancheng.
To sum up, Zhao Kefeng and Tang Yan's couple directly and indirectly control 61.05% of Zhuzhou Keneng's shares, and they are the joint actual controllers of the company. In addition, Zhao Kefeng's younger brother Zhao Kexiang and younger sister Zhao Xiaojiang hold 2.78% and 0.19% of the company's shares respectively. They form a concerted action relationship with Zhao Kefeng and Tang Yan, and control a total of 64.01% of Zhuzhou Keneng's shares.
Currently, Zhao Kefeng is the chairman and general manager of Zhuzhou Keneng, and Zhao Kexiang is the vice chairman and deputy general manager of the company.