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Fill The Domestic Gap! Wanhua Chemical Supplier, Juhua's Chemical New Materials Leader, Is Set To Go Public; Most Plastics Fell Today

Plastmatch 2025-09-23 10:30:29

1. Filling the domestic gap! Wanhua Chemical supplier, Juhua's chemical new materials leader, will be listed.

It is reported that Jinhua New Materials will be listed on the Beijing Stock Exchange this week, with an issue price of 18.15 yuan per share.

The company's IPO intends to raise RMB 63.105 million for the construction of the ketoxime industry chain smart factory project, RMB 23 million for the 500 tons/year JH-2 pilot project, and RMB 506.8975 million for the 60kt/a high-end coupling agent project.

The high-end coupling agent project will be constructed in three phases. Once fully operational, the company will add an annual production capacity of 30,000 tons of silane coupling agents and 30,000 tons of functional silane intermediates.The JH-2 pilot project plans to construct a hydroxylamine aqueous solution.Pilot research and development device for liquids.Can be used as a cleaning agent in the chip manufacturing process and as a stabilizer in the production process of special fibers.Currently, this product is mainly monopolized by BASF. If the project is successfully implemented, it will fill the domestic gap.

Jinhua New Material was established in December 2007, located in the High-tech Park of Quzhou City, Zhejiang Province. The legal representative is Lei Jun, and it is a domestic silane cross-linking company.Leading companies in niche areas such as agents and hydroxylamine salts, national-level specialized and innovative "little giant" enterprises.

Jinhua New Materials is a state-owned enterprise, and the chemical giant Juhua Group is the largest shareholder of the company, holding 82.49% of the shares, and is also the company's largest raw material supplier. Another chemical giant, Hengshen Holding Group, has a wholly-owned subsidiary involved in this context.Fujian Shenyuan New Materials Co., Ltd. holds 3.57% of the shares.

The company's main clients include large multinational enterprises such as Bayer and Bruntag, as well as listed companies like Wanhua Chemical, Sinochem International, Xanda Co., and Lianhua Technology, and Hunan Haili. The end customers of major traders include Silbond Technology, Jitai Co., Huitian New Materials, Oriental Yuhong, Lansi Technology, Science, and CompoChem.

From 2022 to 2024, Jinhua New Material's operating revenue was 994 million yuan, 1.115 billion yuan, and 1.239 billion yuan, respectively, while the net profit attributable to shareholders was 79.5922 million yuan, 173 million yuan, and 211 million yuan, respectively. It is estimated that in 2025, the annual operating revenue will be 1.063 billion yuan, a year-on-year decrease of 14.25%; the net profit attributable to shareholders will be 199 million yuan, a year-on-year decrease of 5.47%. This is mainly due to the low prosperity of room temperature silicone rubber, a downstream product of silane crosslinking agents, in the construction materials and energy power industries.

Among them,In 2024, revenue from silane crosslinking agents is expected to be 714 million RMB (accounting for 57.9%), with a domestic market share of 38.16%. These agents are primarily used in fields such as silicone sealants and photovoltaic module encapsulation (mainly for producing room temperature silicone rubber). Major global manufacturers include Wacker and Shin-Etsu Chemical, with product lines ranging from silicone monomers to silicone oils, silicone rubber, and silicone resins, where silane crosslinking agents account for a relatively small portion of their main business revenue. The domestic market has a high concentration, with key companies including Huajin New Material (58,300 tons/year), New Bluestar (28,000 tons/year), and Aikewei (16,500 tons/year).

In 2024, the revenue from hydroxylamine salts is projected to be 368 million yuan (accounting for 30% of the total), with a domestic market share of 42.37%. Hydroxylamine salts are primarily used as intermediates in pesticides and pharmaceutical synthesis. Major international companies include BASF and Ube Industries of Japan, which mainly produce hydroxylamine sulfate and primarily export to India. China is a major producer and exporter of hydroxylamine salts globally. Key domestic companies include Jinhua New Materials (35,000 tons/year), Aicowei (22,000 tons/year), Shandong Jin'an Chemical (30,000 tons/year), Sheng'an Chemical (8,000 tons/year), and Baoyuan Co., Ltd. (10,000 tons/year).

Section 2: Today's Plastic Prices

(The above is compiled from DT New Materials and Dayi Plastics.)

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Fill The Domestic Gap! Wanhua Chemical Supplier, Juhua's Chemical New Materials Leader, Is Set To Go Public; Most Plastics Fell Today

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