Zhongsu Co., Ltd. IPO Accepted, Focused on Modified Engineering Plastics!

Guangdong Zhongsu New Materials Co., Ltd.'s ChiNext IPO has recently been accepted, with Guosen Securities as the sponsor.

According to reports, Zhongsu Co., Ltd. is mainly engaged in the research, development, production, and sales of modified engineering plastics. The company's main products are applied in industries such as consumer electronics, energy storage, automotive, and home appliances. The end products include various items such as mobile phones, smart wearable devices, tablet computers, laptops, Bluetooth speakers, energy storage power supplies, new energy vehicles, and home appliances.

Zhongsu Co., Ltd. insists on independent research and development and continuously enriches its product series. Its core products include modified PC, PC/ABS, PA, PPA, PBT, PET, and other high-performance engineering materials. In response to specific customer product needs such as electrical interconnection, low dielectric properties, high-temperature resistance, waterproofing, and heat dissipation, the company has developed special functional materials such as laser direct structuring (LDS) materials, nano molding technology (NMT) specialized engineering materials, and ultra-high temperature resistant special nylon materials.

In this IPO impact, Zhongsu Co., Ltd. plans to raise approximately 645 million yuan, which, after deducting issuance expenses, will be invested in the construction project of an intelligent production base for high-performance engineering materials, the expansion project of the Jiangxi Zhongsu production base, the construction project of a new materials engineering technology research center, and to supplement working capital.

Financial data shows that the company's performance has continued to grow, with revenue increasing from 493 million yuan in 2022 to 700 million yuan in 2024, and net profit attributable to the parent company rising from 51.9184 million yuan to 100 million yuan. In the first half of 2025, it achieved a revenue of 337 million yuan and a net profit of 59.136 million yuan, maintaining a stable growth trend.

The equity structure shows that Zhu Huai-cai directly holds 55.24% of the company's shares and, together with his spouse Deng Lian-fang, controls a total of 73.26% of the shares, making them the joint actual controllers of the company. Zhu Huai-cai is currently the company's Chairman and General Manager, and has extensive industry management experience.