Leidi.com Lei Jianping July 31
The IPO of Millennium Boat New Materials Technology Group Co., Ltd. (abbreviation: "Millennium Boat") was terminated a few days ago.
Millennium Boat's prospectus will be accepted in March 2023, which means that after 4 months, the company's listing journey will end.
Millennium Boat plans to raise 709 million yuan, of which 300 million yuan is used for the high-end furniture board project with an annual output of 400,000 cubic meters, 76.525 million yuan is used for the low-carbon building materials (wood and bamboo) R&D center construction project, and 72 million yuan is used for information 260 million yuan will be used to replenish working capital and repay bank loans.
Annual revenue of 2.969 billion
Millennium Boat is a decorative material enterprise integrating R&D, production and sales of multi-category mid-to-high-end panels, and is committed to providing end consumers with green, environmentally friendly, high-quality decorative panels and their supporting products.
During the reporting period, the company's main products include multi-layer boards, particle boards, LSB, OSB and other basic boards, ecological wood boards and other ecological boards, and hardware and other supporting products. While focusing on the board business, the company actively extends to downstream businesses such as customized home furnishing and prefabricated building wooden components. Customized home furnishing products include wardrobes, cabinets, floors, wooden doors, etc.
According to the prospectus, the revenue of Millennium Boat in 2019, 2020, and 2021 will be 1.995 billion yuan, 2.219 billion yuan, and 2.969 billion yuan respectively; the net profit will be 82.4579 million yuan, 78.29 million yuan, and 117 million yuan; They are 73.435 million yuan, 72.735 million yuan, and 107 million yuan respectively.
Millennium Boat's revenue in the first half of 2022 will be 1.355 billion yuan, with a net profit of 59.047 million yuan and a net profit of 53.7465 million yuan after deducting non-existing expenses.
Lu Tonghua and his son control 87% of the shares
The actual controllers of Millennium Boat are Lu Tonghua and Lu Shanbin, who are father and son and have signed the "Agreement of Persons Acting in Concert". As of the signing date of this prospectus, Lu Tonghua indirectly holds 67.52% of the shares of Millennium Boat through Tonghua Investment;
Lu Shanbin directly holds 10.86% of the shares of the Millennium Boat, indirectly holds 7.5% of the shares of the Millennium Boat through Tonghua Investment, and indirectly holds 0.7% of the shares of the Millennium Boat through Yijiaxingzhou and Yijiashengzhou, holding a total of 19.06% of the shares of the Millennium Boat shares; the two together control 86.58% of the shares of Millennium Boat.
Lu Tonghua is the chairman and president of Millennium Boat, and Lu Shanbin is the director of Millennium Boat. Xu Junlan, the mother of Lu Shanbin, is a limited partner of Fuheng Investment, holding 5.81% of its capital contribution;
Before the IPO, Tonghua Investment held 75%, Lu Shanbin 10.86%, Yijia Xingzhou 7.54%, Yongrui Investment 3.95%, Simei Investment 1.97%, and Fuheng Investment 0.66%.
Lu Tonghua, born in February 1962, college degree, senior economist. Founded the company in May 1999, and has served as the chairman and president of the company, concurrently serving as the chairman of Tonghua Investment, supervisor of Zhoushan Investment, and vice president of Zhejiang Construction Decoration Industry Association.
Lu Shanbin, born in November 1991, bachelor degree. From March 2015 to June 2016, he successively served as the new material sales area manager, product manager, and e-commerce director of the company's wholly-owned subsidiaries; from July 2016 to January 2023, he served as the company's wholly-owned Executive director and general manager of sales and new material sales; since January 2021, he has been the executive director and general manager of Bai Feilun, a wholly-owned subsidiary of the company, and wood sales; currently serves as a director of the company and concurrently serves as a director of Tonghua Investment.
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