Xiangyuan New Materials' IPO on the Shenzhen Stock Exchange has been terminated. It is the only company in the domestic MOCA product field to have passed the EU REACH registration and to supply the EU in bulk.

On July 3, Suzhou Xiangyuan New Materials Co., Ltd. (referred to as Xiangyuan New Materials) had its IPO review status on the Shenzhen Stock Exchange changed to "terminated" status, as Suzhou Xiangyuan New Materials Co., Ltd. and the sponsor withdrew the application for listing. According to Article 62 of the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (Revised in 2024)," the Shenzhen Stock Exchange decided to terminate the review for its IPO. According to the prospectus, Xiangyuan New Materials is an innovative-driven enterprise engaged in the research, production, and sales of polyurethane chain extenders, with its main products including MOCA and new polyurethane chain extenders among other fine chemical products. Polyurethane chain extenders are essential auxiliary raw materials in the production process of polyurethane products, known as the "industrial MSG" of the polyurethane industry. During the reporting period, the specific composition of the company's main business revenue is as follows: The company has developed into a core enterprise in the polyurethane chain extender industry, with a wide range of new chain extender products and outstanding industry position in segmented markets. The product quality has reached international standards and enjoys high brand recognition. As one of the few companies in China to obtain EU REACH certification, the company's products are also exported to multiple countries and regions worldwide such as the United States, EU, Japan, South Korea, Russia, India, and Brazil. In the field of MOCA products, the company is the only Chinese enterprise registered with the EU REACH and supplying the EU market in batches. Xiangyuan New Materials has established long-term stable cooperative relationships with many well-known domestic and foreign polyurethane industry enterprises such as LANXESS, Covestro, COIM, ERA, Zhuzhou Feilu High-tech Materials, Haohua Chemical Science & Technology Corp., Beijing Oriental Yuhong Waterproof Technology, Voneseals Technology, and others. The company currently holds 47 invention patents, with complete independent intellectual property rights over key technologies related to chain extender synthesis and preparation. It has established research institutions and platforms such as the "National Enterprise Postdoctoral Workstation," "China Polyurethane Chain Extender Engineering Center," "China Polyurethane Industry Association Polyurethane Elastomer Research Center," "Jiangsu Province Academician Workstation," "Jiangsu Province Enterprise Technology Center," and "Jiangsu Province New Polyurethane Chain Extender Engineering Research Center," achieving significant innovation and results in the polyurethane chain extender field. Since 2005, the company has served as the vice-chairman unit of the 4th, 5th, 6th, and 7th sessions of the China Polyurethane Industry Association, with a strong influence in the industry. Financially, the company achieved operating revenues of approximately 267 million, 338 million, and 371 million RMB in 2020, 2021, and 2022 respectively, with net profits of 71.703 million, 66.1864 million, and 76.035 million RMB respectively.