The official website of the CSRC recently pre disclosed the prospectus (application draft) of Shanxi sunshine Coking Group Co., Ltd. (hereinafter referred to as sunshine group), and the company plans to apply for listing on the Shanghai Stock Exchange. According to its prospectus, sunshine group plans to publicly issue no more than 146.75 million shares, no less than 10% of the total share capital of the company after issuance, and the sponsor is Citic Securities Company Limited(600030) .
Public information shows that sunshine group is located in Hedong Coalfield, Shanxi Province. It is a circular economy enterprise group integrating raw coal washing, coke smelting, coal tar processing, fine chemical industry and other businesses. Its main business includes coal chemical industry and fine chemical industry. Among them, the coal chemical sector is mainly coke products, and the fine chemical sector mainly includes carbon black, industrial naphthalene, modified asphalt, carbazole, anthraquinone, refined naphthalene, etc.
The prospectus shows that the company’s coke and carbon black products have scale advantages in production capacity and output, and are in the forefront of similar enterprises in China. By 2020, the company’s annual capacity of coke and carbon black was 4.2 million tons and 390000 tons respectively. In terms of product quality, the coke produced by the company is high-quality first-class and quasi first-class metallurgical coke, which is a high standard coke generally pursued after the large-scale modern blast furnace. The company’s carbon black customers are also famous tire enterprises, rubber enterprises and dye enterprises at home and abroad. In addition, the company shares in four local high-quality lean coke mines in Shanxi, with a total production capacity of 1.8 million tons / year.
In terms of performance, from 2018 to 2020 and from January to June 2021, the company’s revenue was 10.84 billion yuan, 10.727 billion yuan, 11.625 billion yuan and 7.3 billion yuan respectively, and the net profit in the same period was 1.079 billion yuan, 697 million yuan, 1.3 billion yuan and 1.358 billion yuan respectively. The total net profit in the first half of 2021 exceeded the total in 2020.
In terms of ownership structure, the controlling shareholders and actual controllers of the company are Xue Dianmin and Xue Guofei. Among them, Xue Dianmin holds 81.28% of the shares of the company and serves as the chairman, Xue Guofei holds 0.60% of the shares and serves as the director and general manager. Xue Dianmin and Xue Guofei’s father and son jointly control 81.88% of the shares before the issuance of the company.
According to the prospectus, the sunshine group plans to raise 6 billion yuan for the 3.69 million T / a carbonization room 6.78 m high tamping coking project, coke oven gas to liquefied natural gas and synthetic ammonia project, coal preparation system and coke storage and transportation system transformation project, 220kV power transmission and transformation project and supplementary working capital.
Sunshine Group said that in the future, the company plans to accelerate the construction of “carbon based materials and characteristic fine chemical products recycling industrial park”, form a large-scale low-carbon, clean and high-quality carbon based material base with stable supply capacity in China as soon as possible, and comprehensively upgrade the comprehensive utilization value and socio-economic benefits of hydrogen resources, And start the research on the green development plan of “low carbon emission reduction and carbon neutralization”.
(source: Shanghai Securities News · China Securities Network)
