Sinolink Securities Co.Ltd(600109)
about
Zhejiang Liansheng Chemical Co., Ltd. made an initial public offering and was listed on the gem
of
Listing recommendation
Sponsor (lead underwriter)
(No. 95, dongchenggenshang street, Qingyang District, Chengdu)
Statement
The recommendation institution and its recommendation representative have, in accordance with the company law of the people’s Republic of China, the securities law of the people’s Republic of China and the measures for the administration of the registration of initial public offerings on the gem (for Trial Implementation) (hereinafter referred to as the “measures for the Administration of registration”) The Shenzhen Stock Exchange GEM Listing Rules (hereinafter referred to as the “Listing Rules”) and other laws and regulations, as well as the relevant provisions of the China Securities Regulatory Commission and Shenzhen Stock Exchange, are honest, trustworthy, diligent and responsible, issue the listing recommendation letter in strict accordance with the business rules and Industry self-discipline norms formulated according to law, and ensure that the documents issued are true, accurate and complete.
catalogue
Declare that 1 catalog 2 interpretation Section 1 basic information of the issuer four
1、 Issuer profile four
2、 Main business of the issuer four
3、 Main financial data and financial indicators six
4、 Main risks of the issuer Section 2 basic information of this offering Section III recommendation of this offering fourteen
1、 Name of sponsor fourteen
2、 Information of the sponsor representative designated by the sponsor fourteen
3、 Co sponsors of this securities issuance project and other project team members 14 IV. interests and main businesses between the recommendation institution and its related parties and the issuer and its related parties
Come on fourteen
5、 Commitments of the sponsor 15 Section IV recommendations for this offering seventeen
1、 The decision-making procedures of the Issuer on this securities issuance seventeen
2、 Description of the issuer’s compliance with the gem positioning requirements 17 III. The issuer complies with the Listing Rules of Shenzhen Stock Exchange gem (revised in 2020)
Listing conditions set by eighteen
4、 Specific arrangements for the issuer’s continuous supervision after the listing of Securities twenty
5、 Concluding comments of the sponsor twenty-two
interpretation
In this listing recommendation letter, unless the context otherwise requires, the following abbreviations and terms have the following meanings: company, joint stock company and issuer refer to Zhejiang Liansheng Chemical Co., Ltd. and Liansheng chemical
Actual controllers refer to Mou Jianyu, Yu Kuai and Yu Xiaoou
Liansheng Chemical Co., Ltd. refers to Linhai Liansheng Chemical Co., Ltd
The general meeting of shareholders refers to the general meeting of shareholders of Zhejiang Liansheng Chemical Co., Ltd
The shareholders’ meeting refers to the shareholders’ meeting of Zhejiang Liansheng Chemical Co., Ltd
Board of directors means the board of directors of Zhejiang Liansheng Chemical Co., Ltd. or the board of directors of Zhejiang Liansheng Chemical Co., Ltd
Board of supervisors refers to the board of supervisors of Zhejiang Liansheng Chemical Co., Ltd
3. The board of directors refers to the general meeting of shareholders, the board of directors and the board of supervisors
The articles of association refers to the articles of association of Zhejiang Liansheng Chemical Co., Ltd. or the articles of association of Linhai Liansheng Chemical Co., Ltd
Sinolink Securities Co.Ltd(600109) , the sponsor, the sponsor, the sponsor, refers to Sinolink Securities Co.Ltd(600109) underwriter, the issuer’s lawyer, Guohao lawyer refers to Guohao lawyer (Hangzhou) firm’s issuer’s accountant, and the issuer refers to Tianjian Certified Public Accountants (special general partnership) audit institution and Tianjian accounting firm
Shares (A shares) refer to RMB common shares (A shares)
Listing means that the issuer’s shares are approved to be listed and traded on the stock exchange
Yuan and 10000 yuan refer to RMB yuan and 10000 yuan
Company law means the company law of the people’s Republic of China
Securities Law refers to the securities law of the people’s Republic of China
The measures for the initial public offering of gem refers to the measures for the administration of the registration of initial public offering of shares on GEM (for Trial Implementation)
The administrative measures for recommendation refers to the administrative measures for the recommendation business of securities issuance and listing
CSRC refers to the China Securities Regulatory Commission
This offering refers to the public offering of RMB common shares to the public
Prospectus refers to the prospectus of Zhejiang Liansheng Chemical Co., Ltd. for initial public offering and listing on GEM
Projects invested with raised funds refer to projects invested with raised funds
The reporting period and the last three years refer to 2018, 2019, 2020 and January June 2021
The end of each reporting period refers to December 31, 2018, December 31, 2019, December 31, 2020 and June 30, 2021
The end of the reporting period refers to June 30, 2021
Unless otherwise specified in this listing recommendation, relevant terms have the same meaning as in the prospectus of Zhejiang Liansheng Chemical Co., Ltd. for initial public offering and listing on GEM.
Section 1 basic information of the issuer
1、 Issuer profile
Company name: Zhejiang Liansheng Chemical Co., Ltd
English Name: Zhejiang Realsun Chemical Co., Ltd
Legal representative: Mou Jianyu
The registered capital before issuance was 81 million yuan
Date of establishment of the company: October 19, 2007
Date of establishment of the joint stock company: April 20, 2016
Address: No. 9, Donghai Third Avenue, toumengang new area, Linhai City, Zhejiang Province
Main production and operation address: No. 9, Donghai Third Avenue, toumengang new area, Linhai City, Zhejiang Province
Tel: 057 Henan Shijia Photons Technology Co.Ltd(688313) 2888555
Fax: 057685589838
Contact: Zhou Zhengying
Internet website: www.realsunchem.com com.
E-mail [email protected].
Licensed items: production of hazardous chemicals; Operation of hazardous chemicals; Technology import and export; Import and export of goods (for items subject to approval according to law, business scope activities can be carried out only after approval by relevant departments, and the specific business items shall be subject to the approval results).
General items: Sales of chemical products (excluding licensed chemical products); Production of chemical products (excluding licensed chemical products) (except for projects subject to approval according to law, carry out business activities independently according to law with business license).
This type of securities issuance is the initial public offering of RMB ordinary shares (A shares)
2、 Main business of the issuer
The issuer is a high-tech enterprise in the field of special fine chemicals. Its main business is the R & D, production, sales and import and export trade of fine chemicals focusing on pharmaceutical intermediates, pesticide intermediates, electronic chemicals and chemical solvents. Its main products include γ- Butyrolactone (GBL) α- Acetyl group- γ- Butyrolactone (ABL), N-methylpyrrolidone (NMP), 4-chloro-2-trifluoroacetylaniline hydrate hydrochloride (E2), cyclopropyl ketone (Cpmk), isopropanol (IPA), 1,2-hexanediol (HDO). The by-products in the production process mainly include hydrogen, ethanol, banana water, phosphate, lithium chloride aqueous solution, 2-methyl-4,5-dihydrofuran, etc.
During the reporting period, there was no significant change in the issuer’s main business.
As of the signing date of the listing sponsor, the issuer is a high-tech enterprise and has obtained 22 invention patents and 7 utility model patents. Guided by the development of circular economy model and based on the efficient and comprehensive utilization of resources, the company has formed a technical system with reaction synthesis, neutralization and stratification and distillation and purification as the core through continuous exploration and accumulation, and continues to increase investment in R & D and innovation, and comprehensively serve customers with different needs at home and abroad with innovative technology, optimized synthesis route and continuously optimized production process route of mature products.
In order to improve the anti risk ability and market competitiveness, the company has developed products with different contents and concentrations for different application fields. The company’s main products can be used in medicine, pesticides, electronic chemicals, cosmetics, chemical solvents and other fields. The diversification of product structure makes the enterprise comfortable in the market competition and will not affect the overall development of the enterprise due to the adjustment of individual downstream industries. Under the influence of different economic environment, when the product demand changes, it can be adjusted in time through the extension of the industrial chain to ensure the continuity of the company’s benefits.
At the same time, the cooperation with the products of downstream customers is the prerequisite for the realization of the value of the company’s existing products. The company will organize technical R & D personnel to study the use process of downstream customers, provide technical support and use solutions for customers in terms of product purity during the use of the company’s products, and help customers solve production technical problems in the production process, so as to expand the application field of products and increase the stickiness of customers.
Focusing on the existing products, the company continues to carry out new product R & D and improvement of existing products in combination with industry development trend, demand direction, technical route and other factors. The investment project of the raised funds is the R & D, production and sales of electronic NMP, which is the downstream extension product of the company’s existing product GBL, and can realize collaborative cooperation with the company’s existing products and customer resources.
Due to the particularity of the chemical industry, the quality of upstream raw materials has a great impact on downstream products. Downstream production enterprises have strict comprehensive evaluation and access systems for suppliers in technology, environmental protection, occupational health, quality, production stability and other aspects. Downstream companies are very cautious in customer selection. Before determining the business cooperation relationship, downstream companies usually conduct strict investigation and selection of suppliers’ production equipment, R & D capability, production management and product quality control capability for several years. Once the business relationship is established, it will remain stable for a long time.
The company actively implements the scientific outlook on development, builds a circular economy model, and strives to exchange the minimum resource consumption for higher economic benefits to achieve sustainable development. Through the circular production process, the company can reduce production costs and reduce pollutant emissions. For example, cyclopropyl ketone (Cpmk) adopts the production process with ABL produced by the company as the main raw material, with simple process, relatively mild reaction conditions and controllable cost. However, the traditional process with furfural as the raw material has many reaction steps, strict requirements for high-temperature and high-pressure process, and there are many by-products, and the “three wastes” are difficult to deal with. In order to effectively utilize the by-product hydrogen in GBL production process, the company has developed isopropanol (IPA) product. In the hydrogenation process of this product, GBL by-product hydrogen is effectively used as raw material for production, and a circular economy model is established to maximize economic value. 3、 Main financial data and financial indicators
Project 202106.30202012.31201912.31201812.31 / January June 2021 / 2020 / 2019 / 2018 total assets (10000 yuan) 7874511735395051866914917284
Owner’s equity attributable to the parent company (10000 yuan) 3983529338514825558922254991
Asset liability ratio (consolidated): 45.70%, 50.69%, 48.13%, 52.54%
Operating income (10000 yuan) 4369676679727054573014607962
Net profit (10000 yuan) 6421001074025632695321303
Net profit attributable to the owner of the parent company (RMB 590418, 977425, 585245, 289816)
Attributable to the parent company after deducting non recurring profits and losses
