Coatings market observation: a number of coating companies seeking to go public on the "New Third Board" for capital expansion

 

Global Coatings Network News:

Trace

Four coating companies, Anhui Meijia New Materials Co.

 

 

The specific circumstances of Meijia New Materials, Jiren, Bestune Paint, and Upoco's application for the "New Third Board".

Zhengzhou Upco New Materials Co.
, Ltd.

Zhengzhou Upco New Materials Co.
, Ltd.

Zhengzhou Upco New Materials Co.
, Ltd.
was formerly known as Zhengzhou Upco New Materials Co.
, Ltd.
On September 11, 2013, with the approval of the shareholders meeting, the company was changed to establish a joint stock company as a whole.
On August 31, 2013, it was renamed as "Zhengzhou Youbo New Materials Co.
, Ltd.
" Poco New Materials Co.
, Ltd.
"

On June 27, 2014, Shanghai Securities Co.
, Ltd.
issued the "Report on Recommending Zhengzhou Upco New Materials Co.
, Ltd.
's shares to be listed in the National Equities Exchange and Quotations System for SMEs.
"

Zhengzhou Upco New Materials Co.
, Ltd.
formally applied for the "New Third Board" in July.
As of July 24, 2014, its review progress was "Feedback Review".

Upoco (831040) announced on August 19, 2014 that the company's shares were listed on the National Share Transfer System on August 20, 2014 and publicly transferred.

Upoco is mainly engaged in the research and development, production and sales of thermal insulation coatings.
The main products are ceramic thermal insulation anticorrosive coatings, ceramic intelligent thermal insulation coatings, interior wall thermal insulation coatings, textile thermal insulation coatings, etc.
In 2013, the company achieved operating income of RMB 11.
7643 million and net profit of RMB 194,900.

Relying on excellent technological innovation, UPC ceramic insulation, waterproofing, thermal insulation, civil coatings and other series of coatings have achieved excellent market performance, and its product performance fully meets the requirements of outdoor communication base stations, petrochemical storage tanks, internal and external walls of buildings, and roof steel High-end requirements for heat insulation and cooling, waterproof and anti-corrosion, super weather resistance, acid and alkali resistance, etc.
, in various fields such as the roof and outer walls of structural plants, tents and prefabricated houses, tank trucks, containers, and outer surfaces of ships.

Comparison of NEEQ with ChiNext and Main Board

Comparison of the New Third Board with the Growth Enterprise Market and the Main Board Comparison of the New Third Board with the Growth Enterprise Market and the Main Board

 

project	s	gem	Motherboard
Qualification	Unlisted joint-stock company	A legally established and legally existing joint stock limited company	A legally established and legally existing joint stock limited company
Operating years	Existence for 2 years	Continuous operation time is more than 3 years	Continuous operation time is more than 3 years
Profit requirement	Have the ability to continue operations	It has been profitable in the past two years, and its net profit has been no less than 10 million yuan in the past two years and has continued to grow. (Or) It is profitable in the last year, and the net profit is not less than 5 million yuan, the operating income in the most recent year is not less than 50 million yuan, and the growth rate of the operating income in the last two years is not less than 30%.	The net profit of the most recent three fiscal years are all positive and the cumulative total exceeds 30 million yuan
Asset requirements	Unlimited	Net assets at the end of the most recent period are not less than 20 million yuan, and there is no unrecovered loss	At the end of the most recent period, intangible assets (after deducting land use rights, water surface aquaculture rights and mining rights, etc. ) accounted for no more than 20% of net assets
Equity requirements	Unlimited	After the issuance, the total share capital shall not be less than 30 million yuan	The total equity before issuance is not less than RMB 30 million
Main business	Outstanding main business	No major changes in the last 2 years	No major changes in the last 3 years
The actual controller	Unlimited	No changes in the last 2 years	No changes in the last 3 years
Directors and management	Unlimited	No major changes in the last 2 years	No major changes in the last 3 years
Growth and innovation ability	Zhongguancun High-tech Enterprise ( now gradually expanding the pilot scope to other national high-tech industrial development zones )	"Two highs and five new" enterprises	Unlimited
Investors	Institutions and natural persons	Investors with two years of investment experience	Unlimited
Periodic report of information disclosure	Annual report, semi-annual report, interim report	Annual report, semi-annual report and quarterly report	Annual report, semi-annual report and quarterly report
Filing or review	Record system	Audit system	Audit system

Item
three new board
GEM
board
qualification
AG unlisted established by law and the legal existence of the Corporation established by law and the legal existence of the Company
operating life
existence of at least two years continuous operation time from continuing operations more than three years in more than 3 years
Profitability requirements.
The company
has the ability to continue to operate continuously in the past two years and has been profitable in the past two years.
The accumulated net profit in the past two years is not less than 10 million yuan and continues to grow.
(Or) It is profitable in the last year, and the net profit is not less than 5 million yuan, the operating income in the last year is not less than 50 million yuan, and the growth rate of the operating income in the last two years is not less than 30%.
The three most recent fiscal year net profit are positive and accumulated more than 30 million yuan
of assets requires
unrestricted end of the latest net assets of not less than 20 million yuan accumulated losses and there is no end of the latest issue of intangible assets (net of land use rights after water aquaculture rights and mining rights, etc.
) accounted for the net assets of no more than 20% of the
share capital requirements
after unrestricted total issued share capital of not less than 30 million yuan before the total issued share capital of not less than 30 million yuan
main business
Highlight the main business the past two years, no significant changes in the last three years, no major changes in
the actual controller of
unlimited recent two years has not changed the last 3 years has not changed
directors and management of
unlimited recent 2 years, no significant changes in the last 3 no significant change during the year
growth and innovation capability
Zhongguancun high-tech enterprises ( now gradually expanding it into other high-tech industrial development zone ) "two high five new" unlimited corporate
investor
organizations and individuals have invested two years experienced investors unrestricted
information disclosed in the periodic reports
annual reports, semi-annual, annual interim reports, semi-annual and annual reports quarterly, semi-annual and quarterly
filing or audit 
Filing system audit system audit system
project
three new board
GEM
board
project Project Three new board three new board GEM GEM board motherboard
qualification
AG unlisted established by law and the legal existence of the Corporation established by law and the legal existence of the Company
qualification the qualification of non-listed stock company established by law and the legal existence of the Corporation established by law and the legal existence of the company
operating life
existence of at least two years continuous operation time from continuing operations more than three years in more than three years of
operating life operating life subsisting full 2-year period from continuing operations continuing operations more than three years in more than three years of
profit requirements
It has the ability to continue to operate and has been profitable for the past two consecutive years, with a cumulative net profit of no less than 10 million yuan and continuous growth in the past two years.
(Or) It is profitable in the last year, and the net profit is not less than 5 million yuan, the operating income in the most recent year is not less than 50 million yuan, and the growth rate of the operating income in the last two years is not less than 30%.
The three most recent fiscal year net profit are positive and accumulated more than 30 million yuan
profit requirements of profitability requirements has continued viability profitable for the last two years, the last two years the cumulative net profit of less than 10 million and growing.
(Or) It is profitable in the last year, and the net profit is not less than 5 million yuan, the operating income in the most recent year is not less than 50 million yuan, and the growth rate of the operating income in the last two years is not less than 30%.
The three most recent fiscal year net profit are positive and accumulated more than 30 million yuan
of assets requires
unrestricted end of the latest net assets of not less than 20 million yuan accumulated losses and there is no end of the latest issue of intangible assets (net of land use rights after water aquaculture rights and mining rights, etc.
) accounted for the net assets of no more than 20% of
assets requirement assets requirement unlimited end of the latest net assets of not less than 20 million yuan accumulated losses and there is no end of the latest issue of intangible assets (After deducting land use rights, water surface aquaculture rights and mining rights, etc.
) the proportion of net assets shall not be higher than 20%.

Equity requirement.
The
total equity after the issuance is not less than 30 million yuan.
The total equity before the issuance shall not be less than 30 million yuan.

Equity requirements, unrestricted equity requirements , the total equity after issuance is not less than 30 million yuan, the total equity before issuance is not less than 30 million yuan
Main business
highlight the main business the past two years, no significant changes in the last three years, no significant changes in
the main business the main business prominent main business the past two years, no significant changes in the last three years, no major changes in
the actual controller
Unlimited not recently changed two years last 3 years has not changed
the actual controller actual control of unlimited recent two years has not changed the last 3 years has not changed
directors and management of
unlimited recent 2 years, no significant changes in recent years did not occur 3 significant changes in
directors and management directors and management of unlimited recent 2 years, no significant changes in the recent three years, no significant change in
growth and innovation capability
Zhongguancun High-tech enterprises ( now gradually expanding it to other high-tech industrial development district ) "five new high" unlimited business
growth and innovation capacity growth and ability to innovate   Zhongguancun high-tech enterprises ( now gradually expanding it into other high-tech industrial development zone ) has been gradually expanding it to other state-level high-tech industrial development zone in the "five new two high" enterprises unlimited
investor
institutions two years of investment experience and unlimited natural person investors
investors investors have two years of investment experience and institutional investors unlimited natural person
to disclose the information periodic reports
annual reports, semi-annual, annual interim reports, semi-annual and annual reports quarterly, half year report and quarterly
disclosure of information periodic reports to disclose the information periodic reports annual reports, semi-annual, annual interim reports, semi-annual and annual reports quarterly, semi-annual and quarterly
filing or audit
filing system audit system audit system
record or audit record or audit record system audit Audit system

 

The role of the new three boards:

1.
Become a platform for corporate financing

The existence of the New Third Board makes the financing of high-tech enterprises no longer limited to bank loans and government subsidies, and more equity investment funds will actively invest because of the system guarantee of the New Third Board.

2.
Improve corporate governance

According to the NEEQ rules, once the park company is ready to register on the NEEQ, it must first carry out equity reform under the guidance of professional institutions to clarify the company’s equity structure and high-level responsibilities.
At the same time, the NEEQ’s information disclosure requirements for listed companies are set in accordance with those of listed companies, which has greatly promoted the standardized management and healthy development of enterprises, and strengthened the stamina of enterprises for development.

3.
Provide a platform for value investment

The existence of the New Third Board makes value investment possible.
Regardless of whether it is an individual or an institutional investor, the funds invested in the NEEQ company cannot be recovered in the short term.
Even if it is recovered, the return on investment will not be too high.
Therefore, investment in NEEQ companies is more suitable for value investment.

4.
Reduce equity investment risks through supervision

The establishment of the NEEQ system has allowed listed companies’ equity investment and financing activities to be included in the trading system.
At the same time, they are subject to the supervision of the host brokerage firm and the supervision of the Securities Industry Association.
Naturally, they are more resistant to risks than investors’ unilateral forces.

5.
Become a new way for private equity funds to exit

The establishment of the share quotation transfer system has become a new way of capital withdrawal for private equity funds that invest in companies listed on the NEEQ, and listed companies have therefore become another investment hotspot for private equity funds.

6.
Put pressure on A-share funds

The reform of the NEEQ trading system is tantamount to adding a big market.
For A shares, some funds will definitely be diverted.
Although short-term listed companies are financing through private placement, as the number of listed companies increases, the scale of financing will increase, which will certainly suck some of the market's funds.
(Source: Global Coatings Network ) (For more information, please log in: Global Coatings Network http:// style="vertical-align: inherit;"> )

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