Recently, Runtai New Materials Co., Ltd. submitted a draft application for the initial public offering of prospectus . Based on this, the company plans to sprint for the IPO of the Shenzhen Stock Exchange GEM . The company plans to issue no more than 61.6667 million shares for the first time, accounting for no less than 25% of the total share capital after issuance; all of this issuance is the company's public offering of new shares, and the company's original shareholders will not be arranged to publicly sell shares. The total investment of the company's planned investment project is 610 million yuan, and it plans to invest 550 million yuan. The main investment projects are water-based coating additives and environmentally friendly high-boiling point solvent series product projects (Phase I) and supplementary working capital.
prospectus shows that the company is an enterprise engaged in the research, development, production and sales of fine chemical products such as film forming additive and plasticizing agent. The main products include dodecanol esters, hexadecanol esters (also known as "hexadecanol diesters"), dimethyl phthalate , etc. In 2019, 2020, 2021 and January-June 2022, the company achieved operating income of RMB 567 million, RMB 649 million, RMB 1.183 billion and RMB 558 million, respectively, and the net profit attributable to parent company shareholders was RMB 25.2045 million, RMB 53.3717 million, RMB 111 million and RMB 39.4334 million, respectively. Among them, during the reporting period, the proportion of the above-mentioned products to the main business revenue was 86.54%, 92.32%, 91.42% and 91.72% respectively.
At the end of each period of the reporting period, the company's accounts receivable book value was RMB 90.2578 million, RMB 112.4005 million, RMB 130.9814 million and RMB 187.1686 million, respectively, accounting for 24.56%, 34.51%, 27.49% and 40.40% of current assets, respectively. If there are adverse changes in the macroeconomic environment, customer operating conditions, etc., and bad debts cannot be recovered on time or cannot be recovered, the company will face the risk of shortage of working capital and decline in profitability.
