Recently, Hunan Xiangtou Jintian Titanium Technology Co., Ltd.(referred to as: Jintian Titanium Industry) successfully passed the review of the Shanghai Stock Exchange Science and Technology Innovation Board Listing Committee meeting, making the IPO process a step closer.
Jintian Titanium is a high-tech enterprise mainly engaged in the research and development, production and sales of high-end titanium and titanium alloy materials. Its main products are titanium and titanium alloy bars, forgings and parts, which are mainly used in aerospace, ships and high-end equipment fields such as weapons.
Jintian Titanium Industry develops the market with differentiated competition and technical services. Through years of accumulation and development, Jintian Titanium has become one of the main R & D and production bases for high-end titanium alloy bars and forges in China.
From 2020 to 2022, the company's main business income was 446 million yuan, 552 million yuan, and 682 million yuan respectively, and in the first half of 2023 it was 396 million yuan; the compound annual growth rate of main business income over the three years reached 23.69%.
For this IPO of the Science and Technology Innovation Board, Jintian Titanium Industry plans to raise 1.045 billion yuan, of which 745 million yuan will be used for the advanced titanium alloy project for high-end equipment (Phase I). After the project fully reaches production capacity, it will form an annual output of 2800 tons of titanium alloy bars and 200 tons of titanium alloy forging blanks.
70% of the funds raised are used to expand production. Behind the "big money" is Jintian Titanium Industry's confidence in the development prospects of high-end equipment fields such as aerospace. According to statistics from the Titanium, Zirconium and Hafum Branch of the China Nonferrous Metals Industry Association, the average annual compound growth rate of sales of titanium materials for aerospace in China in the past 10 years (2013 - 2022) is approximately 24.28%, which is growing rapidly. In the next 10 years, China's aerospace titanium materials demand is expected to be approximately 1.3158 million tons.
Jintian Titanium said that during the "14th Five-Year Plan" period, with the implementation of the national strategy to accelerate the modernization of weapons and equipment, iterative upgrades of aviation, aerospace and weapons and other equipment are imminent, and the demand for high-end titanium alloy materials has increased sharply. The company's implementation of this fundraising and expansion will help improve the company's production and research capabilities in high-end titanium alloy materials, expand the market share of high-end titanium alloy materials, provide high-quality titanium alloy materials for national strategies and national defense strategies, and ensure the upgrading of national defense equipment., consolidate and strengthen industry competitiveness.
