Leading Insulation Material Manufacturer East Materials Technology IPO Approved

The initial application of the A shares of Sichuan Dongcai Science and Technology Group Co., Ltd. to be listed on the Shanghai Stock Exchange was approved by the China Securities Regulatory Commission's Investigating and Approving Committee on March 21st. This domestic manufacturing company with the most complete range of insulation materials will soon land on the capital market.

Tungsu Science and Technology is a key enterprise in R&D and manufacturing of domestic comprehensive insulation materials. It is mainly engaged in the research and development, manufacture and sales of insulating materials, functional polymer materials and related fine chemical products. The products are mainly used in power generation equipment, power transmission and transformation equipment, and traction locomotives. , motors, electrical appliances, electronics, communications, new energy (wind, solar and nuclear energy) and other industries. At present, there is no listed company in the A-shares that is completely identical to the product structure and business focus of the company.

In addition to the most complete product variety, Tung Tak Science and Technology has a prominent technological advantage in the domestic insulation material industry. As a high-tech enterprise, Dongcai Science and Technology has a state-level enterprise technology center and a post-doctoral research station, and has been approved by the Ministry of Science and Technology to establish the only national insulation material engineering and technology research center in China. At present, Tungsu Science and Technology and its subsidiaries have obtained a number of national invention patents. At present, there are still 14 valid ones. Another one utility model patent application has been granted notice and 12 national invention patent applications have been accepted.

The disclosed information shows that from 2008 to 2010, the company’s total operating income was 709 million yuan, 682 million yuan, and 1.018 billion yuan, and the corresponding net profit was 62.1843 million yuan, 87.188 million yuan, and 182 million yuan. The company's weighted average return on net assets reached 25.70%, 28.08% and 42.96%, respectively, showing strong profitability. In 2010, earnings per share of 0.80 yuan were realized.

Eastwood Technology intends to issue no more than 80 million shares this time. It intends to raise funds of 5.5876 billion yuan for the technical transformation of 3500 tons of polypropylene film for capacitors, 3,500 tons of new flexible composite insulating materials, and 4,000 tons of halogen-free flame retardant insulation sheets. Technical transformation of steel materials, 7,000 tons of new insulation layer (modulus) composite material production line technical transformation and 15,000 tons of special polyester film technology reform five projects, raised investment project products are the company has mass production of superior products.