SHENZHEN, July 16 - Henan Guangyuan New Materials Co., Ltd. ("Guangyuan New Materials") has had its initial public offering (IPO) application on the ChiNext board officially accepted by the Shenzhen Stock Exchange, according to the exchange's official website on June 18. Guotai Haitong Securities serves as the sponsor for the offering.

According to the prospectus, Guangyuan New Materials plans to issue no more than 55.4406 million new shares, representing no less than 10% of the total share capital after the offering. The proposed fundraising target is RMB 3.6 billion, which will be allocated to a technical upgrade project for high-performance low-dielectric fiberglass yarn, a production line project for high-performance low-dielectric low-expansion fiberglass fabric, an intelligent production line project for ultra-low-dielectric low-expansion electronic yarn for next-generation information technology applications, and supplemental working capital.

Founded in 2011 and headquartered in Linzhou, Anyang, Guangyuan New Materials is a large-scale modern high-tech enterprise integrating R&D, production, and sales of electronic-grade fiberglass products. The company's products are widely used in AI servers, next-generation communication base stations, large-scale computers, aerospace, chip packaging, automotive electronics, smart home devices, and consumer electronics, among other end-markets.

From 2023 to 2025, Guangyuan New Materials reported operating revenues of RMB 1.071 billion, RMB 1.329 billion, and RMB 2.268 billion, respectively, with recurring net profits of -RMB 111 million, RMB 41.30 million, and RMB 510 million over the same periods. In the first quarter of this year, the company posted operating revenue of RMB 843 million and recurring net profit of RMB 344 million.