Jardli's IPO on the Shanghai Stock Exchange has been inquired. In 2024, the sales revenue of polypropylene film for capacitors ranks second in the world.

On November 27th, Quanzhou Jia Deli Electronic Materials Co., Ltd. (referred to as Jia Deli) applied for a change in the status of the Shanghai Stock Exchange's main board listing review to "inquiry received", with GF SEC as its sponsor institution, planning to raise 725 million yuan. According to the prospectus, the company is a nationally recognized small and medium-sized enterprise and high-tech enterprise specializing in the research, development, production, and sales of BOPP electrical films, with over 20 years of experience in the BOPP electrical film industry and a competitive product portfolio. BOPP electrical film is an insulation material made from polypropylene resin through a biaxial stretching process, characterized by good self-healing, high pressure resistance, even thickness, low dielectric loss, and low specific gravity. The downstream application areas include polypropylene films for thin film capacitors (capacitor films) and composite copper foil substrates. In thin film capacitors, BOPP electrical film acts as an insulator that stores charge between two separated electrodes, serving as the core raw material for thin film capacitors, with its performance directly affecting core indicators such as the capacitance, stability, and lifespan of the capacitors. In lithium battery composite collectors, BOPP electrical film can be used as a substrate for composite copper foil for the negative electrode, effectively improving battery safety and reducing costs, making it a key emerging direction in the lithium battery field. With the rapid development of emerging applications such as new energy vehicles, renewable energy, flexible AC transmission systems, and composite collectors, the company's position in the BOPP electrical film industry will see broader market opportunities and room for development. Thinness, high temperature resistance, and high pressure resistance are key areas for the development of BOPP electrical films and are recognized as technical challenges in the industry. Through long-term technical research and process accumulation, the company has continuously made breakthroughs in key technical indicators such as thinness, high temperature resistance, and high pressure resistance. Currently, in different product series, the company can achieve stable production of iconic products such as 1.9m ultra-thin films, 125 ultra-high temperature films, 900V ultra-thin films, and 2,000V special pulse films. These products are widely used in new energy vehicles, renewable energy, flexible AC transmission, and other emerging fields. The company's technological strength is at the forefront of the industry, maintaining good product consistency. It has established stable cooperative relationships with leading domestic thin film capacitor manufacturers such as Xiamen Faratronic and Yingfeng Electronics, as well as international leading thin film capacitor manufacturers such as TDK and KEMET, receiving high recognition from many downstream customers. According to statistics from the China Electronic Components Industry Association, the company's sales of polypropylene films for capacitors rank second globally and first domestically in 2024, with global and domestic market shares of 11.7% and 16.4% respectively. In the field of new energy, thin film capacitors have become one of the main types of capacitors, and the sales of the company's BOPP electrical film products have been continuously increasing. At the same time, the company actively develops and produces products for emerging application areas. In the future, with the mass production of automotive power batteries and energy storage batteries using composite collectors, the company's BOPP electrical film is expected to have even larger application scenarios. In terms of high-end production capacity, the company currently has 7 BOPP electrical film production lines in operation, with 3 of them using a higher production efficiency synchronous stretching process. The supply of ultra-thin films in the 2m range is leading domestically. The company currently has 4 production lines under construction, and in the future, as demand in downstream emerging fields expands, the company will maintain a synchronous expansion pace in cooperation with top customers in the new energy vehicle, renewable energy, flexible AC transmission, and composite collector fields. According to calculations based on statistics from the China Electronic Components Industry Association and the company's relevant business revenues, the company's market share in the automotive sector is approximately 60% and approximately 40% in the photovoltaic and wind power sectors. With capacity expansion, the company will maintain a leading market share in the core application areas of BOPP electrical films. Financially, in the years 2022, 2023, 2024, and January to June 2025, the company achieved operating incomes of approximately 550 million yuan, 528 million yuan, 734 million yuan, and 367 million yuan respectively. During the same period, the net profits were approximately 192 million yuan, 141 million yuan, 238 million yuan, and 125 million yuan respectively.