China Plastics Corporation's IPO on the GEM was approved by the Listing Committee, focusing on the research and development, production, and sales of modified engineering plastics.

On June 4th, Guangdong Zhongsu New Materials Co., Ltd. (referred to as Zhongsu) passed the review of the GEM Listing Committee of the Shenzhen Stock Exchange. Guosen is its sponsor, with a planned fundraising of 645.49 million yuan. According to the prospectus, Zhongsu's main business is the research, development, production, and sales of modified engineering plastics. The company's main products are used in industries such as consumer electronics, energy storage, automotive, and home appliances, including mobile phones, smart wearable devices, tablets and laptops, Bluetooth speakers, energy storage power supplies, new energy vehicles, and home appliances. In response to the fast iteration of products in industries like consumer electronics and the demand for high quality, the company focuses on a product differentiation strategy, concentrating on developing high value-added modified engineering plastic products to meet the personalized material requirements of downstream products. The company's core products include modified PC, PC/ABS, PA, PPA, PBT, PET, and other high-performance engineering materials. It has also developed special functional materials such as laser direct structuring (LDS) materials, nano injection molding (NMT) specialty engineering materials, and ultra-high temperature resistant nylon materials to meet specific requirements of customer products for electrical interconnection, low dielectric, high temperature resistance, and water resistance and heat dissipation. In terms of raw materials, the company mainly requires PC, PA, ABS, and other resin-based materials, additives, pigments, and auxiliary materials, which are mostly downstream products of the petrochemical industry supplied by large domestic and foreign petrochemical companies and their distributors. The company's direct customers include major domestic manufacturers of small components, modules, and precision structural components, such as BYD Company Limited, Foxconn, Huaqin Co., Ltd., Wingtech Communications, LONGCHEER, Shenzhen Everwin Precision Technology, Goertek Inc., AAC TECH, Lingyi Itech, Luxshare Precision Industry, Dongguan Chitwing Technology, Huizhou Speed Wireless Technology, among others. Additionally, the company has become a qualified supplier for multiple terminal brand customers, including Samsung, Huawei, Xiaomi, OPPO, Transsion, BOSE, Lenovo, Xiaotiancai, Anker Innovations Technology, Zhenhao Technology, BYD Company Limited, Jiangling, and other industry-leading enterprises. During each reporting period, the company's products, including high-performance engineering materials, special functional materials, and other materials, are mainly applied in the consumer electronics field, with the revenue from consumer electronics business accounting for 65.57%, 70.82%, and 66.90% respectively. At the same time, the company is continuously expanding its product layout in diversified downstream categories, with energy storage and new energy vehicles as key development areas. The revenue from modified engineering plastic products in the energy storage and new energy vehicle sectors has been gradually increasing during each reporting period. Financially, in the fiscal years 2023, 2024, and 2025, the company achieved operating income of approximately 537 million yuan, 700 million yuan, and 749 million yuan respectively, while the net profit was approximately 78.998 million yuan, 100 million yuan, and 126 million yuan respectively.