ChangJin Photonics has applied for IPO on the Science and Technology Innovation Board, making it one of the leading companies in the domestic specialty optical fiber industry.

On August 29th, Wuhan Changjin Photon Technology Co., Ltd. (referred to as Changjin Photon) submitted its application for an IPO on the Shanghai Stock Exchange Science and Technology Innovation Board. Guotai Haitong is the sponsor institution, with plans to raise 780 million yuan. According to the prospectus, the company is a leading domestic special optical fiber manufacturer with the capability of high-performance, multi-category special optical fiber research and industrialization, which effectively promotes the technological independence and localization of special optical fibers in China. The company's main product, rare earth-doped optical fiber, is an important subclass of special optical fibers which is a core optical material in the upstream of the laser industry chain. It is the key component of various optical fiber lasers, optical fiber amplifiers, and optical fiber laser radars, widely used in advanced manufacturing, optical communications, measurement sensing, national defense, military industry, medical health, scientific research, and other fields, and is a critical material driving the development of the optoelectronic industry and supporting downstream strategic emerging industries. Rare earth-doped optical fiber is used to generate specific wavelength lasers and amplify optical signals, facilitating high-power, high-performance laser output, long-distance, high-capacity, high-speed optical signal transmission. It is a core optical material in the upstream of the laser industry chain and is positioned in the same phase as laser chips and optical crystals. Against the backdrop of the rapid development of new intelligent manufacturing and new infrastructure, the core value of the company's main product, rare earth-doped optical fiber, is becoming increasingly prominent. The technological level and development trend of China's rare earth-doped optical fiber industry will affect downstream sectors and subsequently impact the development of manufacturing transformation and upgrading, the construction of new network infrastructure, and national defense security. China's special optical fiber industry started relatively late and still has a certain gap from the global advanced level. Due to the important role of special optical fibers in advanced manufacturing, national defense, and other fields, the United States has long imposed export control and technology blockade on some high-performance special optical fibers through its "Commercial Control List," restricting the technological progress of related industries in China. Since its establishment, the company has been focusing on the technological breakthrough of high-performance special optical fibers, breaking through key technological barriers, and has mastered key technologies such as dopant composition and waveguide structure design, preform preparation and drawing, optical and mechanical performance index testing, forming an independent and controllable core technology system. The company is a leading enterprise in the domestic special optical fiber industry and occupies a dominant position in the domestic rare earth-doped optical fiber market. With profound technical reserves and advanced manufacturing processes, the company has established a rich product matrix. The quality, performance, and reliability of its products have been recognized by customers. It is the core supplier of domestic laser and optical communication devices and has gradually grown into an important supplier for other strategic emerging industry customers. The company's comprehensive strength in continuous research and development innovation capability and stable batch production capacity is in a leading position, with its overall market position at the forefront of the special optical fiber industry. The raised funds from this issuance, after deducting issuance expenses, will be invested in the following projects: Financially, in the fiscal years 2022, 2023, 2024, and January-March 2025, the company is expected to achieve operating income of approximately 108 million yuan, 145 million yuan, 192 million yuan, and 44.7299 million yuan respectively; during the same period, the net profits are expected to be 36.7817 million yuan, 54.6565 million yuan, 75.7559 million yuan, and 15.1827 million yuan respectively.