Hongfucheng successfully passed the IPO for the ChiNext board, and the company's main products include thermal interface materials.

On June 9, Shenzhen Hongfucheng New Materials Co., Ltd. (referred to as Hongfucheng) passed the listing committee meeting of the ChiNext Board of the Shenzhen Stock Exchange. The IPO sponsor is Huayuan Securities, and the planned fundraising is 1.22039 billion yuan. The prospectus shows that Hongfucheng is a national key "Little Giant" enterprise specializing in the research, development, and industrialization of advanced electronic functional materials and devices such as thermal management, electromagnetic shielding, and absorbing materials. Its products mainly include thermal interface materials, electromagnetic shielding, and absorbing materials. Thermal interface materials are usually filled between heating components such as chips and radiators to improve thermal conductivity; electromagnetic shielding and absorbing materials are both materials in the field of electromagnetic compatibility, mainly shielding and absorbing electromagnetic waves through reflection, absorption, or loss, to reduce electromagnetic interference. These materials are key materials to ensure the reliability and stable operation of various electronic information products, widely used in data centers (AI high-power chips, optical modules), smart cars, 5G communications, and consumer electronics. During the reporting period, the composition of the company's main business income is as shown in the table below: The company's self-developed graphene thermal pads and metal carbon-based composite materials have entered the global supply chain of thermal interface materials for major AI chip companies and are being supplied in bulk. Downstream customers include Company B, Company C, Wistron Information Technology & Services, and Foxconn. In addition, the company's TIM1 thermal interface materials have been recognized by customers and are starting to be supplied in small quantities. With the rapid development of downstream applications such as AI computing centers, AI smartphones, and autonomous driving in the high-power chip market, the demand for thermal management materials in these areas is increasing, and advanced thermal management materials have become key electronic materials, providing the company's products with broad market prospects in the future. In terms of finances, it is expected that in 2023, 2024, and 2025, the company will achieve operating revenues of approximately 260 million yuan, 330 million yuan, and 707 million yuan respectively; during the same period, net profits are expected to be 34.7617 million yuan, 71.5051 million yuan, and approximately 270 million yuan respectively.