Yubang New Material successfully passed Shenzhen Stock Exchange meeting, Backed by Longi annual income will exceed 1 billion
According to the Shenzhen Stock Exchange’s GEM issuance and listing review information disclosure website, Suzhou Yubang New Material Co., Ltd. has passed the listing committee meeting and will be held on the Shenzhen Stock Exchange’s Growth Enterprise Market. Listed.
According to the data, Yubang New Material was established in 2002 and was mainly engaged in the trading of non-hazardous chemical laboratory supplies and electronic components before 2006. In 2006, the company began research and development of photovoltaic ribbons, and concurrently engaged in the above-mentioned trading business.
After 2007, Yubang New Materials began mass production of photovoltaic ribbons and realized external sales. The main product is “tin-coated copper tape”, which is used to connect photovoltaic solar cells and conduct electricity. At that time, it was in the early stage of the development of China’s photovoltaic industry, and the degree of localization of related supporting materials was relatively low. Leading company in market segments.
In 2015, Yubang New Materials was listed on the New Third Board, the stock abbreviation was “Yubang New Materials” and the stock code was “832681”. The transfer method was agreement transfer, and the listing was terminated on March 6, 2018.
During this period, Yubang New Materials applied for IPO listing in 2017, but at the 82nd meeting of the 17th Issuance Examination Committee, the first launch of Yubang New Materials was rejected. The issues raised by the Issuance Examination Committee meeting at that time mainly related to the sharp decline in the company’s net profit and gross profit margin during the reporting period; the balance of bills receivable and commercial acceptance bills rose sharply, connected transactions; and the capacity digestion of fundraising projects.
After the first IPO was rejected, Yubang New Materials strengthened its cost control and management and made great progress, especially in terms of net profit. The most obvious comparison is that in 2019, when the revenue of Yubang New Materials decreased by nearly 60 million compared with 2017, its net profit increased by 13 million yuan.
In the context of the substantial increase in my country’s photovoltaic installed capacity in 2020, Yubang New Materials successfully boarded the express train of Longi, the champion of Shinco module shipments, and achieved substantial growth in revenue and net profit attributable to its parent. Among them, revenue increased by 36%, and net profit attributable to the parent increased by 61.2%.
In 2019, Longji is the second largest customer of Yubang New Materials, with sales revenue of 84.71 million yuan, which is slightly lower than Trina Solar. But in 2020, Longji shares not only become the largest customer of Yubang New Materials, but also sales revenue increased to 208.6 million yuan, accounting for 25.66%. It is an important support for its revenue growth.
According to the 2021 semi-annual report recently released by Longi, the production of monocrystalline modules in the first half of the year has reached 19.93GW, and the annual production capacity is expected to reach 50GW. It will inevitably drive the revenue growth of Yubang New Materials. The annual revenue of 2021 is expected to exceed the 1 billion mark, allowing it to hand over a better report card after listing.
At the same time, Veken Photovoltaic also noticed that Yubang New Material’s market share in photovoltaic ribbons has been ranked first for many years, about 11%. After the listing and financing, it will help it to further develop and expand production through technology. Reduce costs, increase gross profit margin and market share.