A-share subscription|Changyu Group (603407.SH) opens subscription for sales of zirconium products exceeding 70,000 tons in 2025.

On April 27, Changyu Group (603407.SH) started its IPO with an issue price of 13.86 yuan/share, a maximum subscription limit of 11,000 shares, a P/E ratio of 23 times, listed on the Shanghai Stock Exchange, with Southwest as its sponsoring institution. The prospectus shows that Changyu Group is mainly engaged in the research, production, and sales of zirconium products, special nylon products, and fine chemical products. Its main products include zirconium oxychloride, zirconium carbonate, zirconium oxide, nanocomposite zirconium oxide, special nylon, long-chain dicarboxylic acid, long-chain diol, and long-chain dimethyl ester, etc. The company's products are widely used in the automotive, communication, consumer electronics, high-performance ceramics, medical and other fields, and are sold in mainland China, Europe, the United States, Japan, South Korea, India, Southeast Asia and other countries and regions. Specifically, the company is a well-known supplier of zirconium products and special nylon products in the industry. It has the largest global production capacity for zirconium oxychloride, and is domestically leading in terms of special nylon production capacity and variety. In terms of zirconium products, the company currently has a production capacity of 75,000 tons/year for zirconium oxychloride, making it the largest producer of zirconium oxychloride in the world. Zirconium products are widely used in high-performance ceramics, communication, consumer electronics, cosmetics, medical, catalysts and many other areas. The traditional zirconium product industry, such as zirconium oxychloride, has matured, with concentrated production capacity and a stable competitive landscape. The company is a well-known supplier and major market participant in the zirconium product industry, with the largest production capacity for zirconium oxychloride globally and the number one market share globally. During the reporting period, the company's sales of zirconium products were 57,322.65 tons, 63,982.44 tons, and 70,514.83 tons respectively. The revenue from zirconium products accounted for 72.43%, 70.85%, and 69.86% of the company's main operating income, and is the main source of the company's operating income and profits. Special nylon products are mainly used in relatively high-end fields such as automotive, mechanical, optical materials, consumer electronics, drones, etc. During the reporting period, the company's sales of special nylon products were 6,508.41 tons, 7,343.18 tons, and 9,309.09 tons respectively. Financially, in the fiscal years 2023, 2024, and 2025, Changyu Group is expected to achieve revenues of approximately RMB 1.608 billion, RMB 1.638 billion, and RMB 1.781 billion respectively; with net profits of approximately RMB 196 million, RMB 215 million, and RMB 255 million during the same period.