Powder coating resin leading enterprises applied to terminate the IPO of the company

On January 22, 2020, Guanghua Technology and its sponsor Guotai Junan Securities Co., Ltd. applied to the Shanghai Stock Exchange to withdraw the application documents for the initial public offering of shares of Zhejiang Guanghua Technology Co., Ltd. and the listing of the Company's board.
January 25, in accordance with the relevant provisions of the Shanghai Stock Exchange, the Shanghai Stock Exchange decided to terminate the initial public offering of shares of Zhejiang Guanghua Technology Co., Ltd. and to list on the Board of Science and Technology.
Guanghua Technology originally intended to issue no more than 32 million shares in the Shanghai Stock Exchange, accounting for no less than 25% of the total share capital after the issue, to raise funds of 587 million yuan, of which 426 million yuan for an annual output of 120,000 tons of powder coating polyester Resin construction project, 7084.09 million yuan for research and development center construction projects, 90 million yuan for supplementary working capital, the project reached post-parto, the company's production capacity will be increased from the current 99,000 tons / year to 219,000 tons / year .
Company Profile
Guanghua Technology was established on October 11, 2014, is a professional polyester resin research and development, production and sales of high-tech enterprises, but also the largest powder coating polyester resin suppliers. At present, the company has about 50,000 tons of polyester resin production capacity, the company's powder coating polyester resin production and sales have been for many years ranked second in the domestic industry.
products include epoxy-cured polyester resins, TGIC cured polyester resins, HAA cured polyester resins and special-purpose polyester resins, depending on the application area. These products can be divided into outdoor polyester resin and indoor polyester resin, widely used in construction, furniture, home appliances, automobiles, high-speed rail, 3C and many other fields.
outdoor polyester resin main applications for outdoor, products need to have anti-aging, corrosion resistance and other energy, applications include automobiles, building materials, home appliances, engineering machinery, high-speed guardrails and so on. The company's outdoor product line includes TGIC cured polyester resin, HAA cured polyester resin and polyurethane resin.
main application areas of indoor polyester resin products for indoor home appliances, furniture, electronic 3C products, etc. , need to have a better leveling and decorative. The company's household polyester resin is mainly epoxy cured polyester resin.
technology sales of polyester resins from 2017 to 2019 were 475,000 tons, 597,000 tons and 711,000 tons, respectively. According to the statistics of the Coatings Professional Committee of the China Chemical Society, the company's sales of polyester resins for powder coatings have been at the forefront of the industry for many years, and are the leading suppliers of polyester resins for powder coatings in China.