China Ceramics Network reported on December 1 that the China Securities Regulatory Commission’s official website announced the review results and approved the approval of the initial public offering registration of Guangdong Benlang New Materials Co., Ltd. (CSRC License [2022] No. 2998). This means that Benlang New Materials has successfully been approved for issuance and listing and has become a listed company on the Zhunbei Stock Exchange. It is also the first approved company in Shunde.
It is understood that Benlang New Materials was established in September 2000. It is a high-tech enterprise focusing on the research and development, production and sales of superhard material products. It is one of the leading enterprises in the superhard material products industry in my country. The global ceramic processing diamond tool market share ranks among the top. Products include diamond tools (including resin bonded diamond tools, metal bonded diamond tools and precision machining diamond tools), rare earth permanent magnet components and silicon carbide tools, among which diamond tools are the company's main products.
In recent years, Benlang New Materials' performance has grown steadily, with operating income in the past three years reaching 598 million yuan, 600 million yuan, and 773 million yuan respectively. In the first half of 2022, it achieved operating income of 365 million yuan, a year-on-year increase of 36.57 million yuan.
The prospectus of Benlang New Materials disclosed that the company plans to raise approximately 350 million yuan for new projects in the intelligent manufacturing of high-performance diamond tools and the construction of new corporate R&D centers.
According to reports, after the implementation of the raised investment project "New Project for Intelligent Manufacturing of High-Performance Diamond Tools", the company's diamond tool production capacity will be rapidly expanded and the scale will be expanded, effectively alleviating the company's production pressure. Another raised investment project, "Business R&D Center Construction New Project", will purchase advanced R&D, testing equipment, software equipment, etc. Carry out technology research and development work in the direction of technological upgrading of existing superhard material products, technological development of precision carving tools for 3C products, and technical research on diamond high thermal conductivity materials for 5G applications.
