Jinge New Materials passes review: the 42nd IPO approval this year, China International Capital Corporation (CICC) has completed 6 deals

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China Economic Net, Beijing, March 28 — The Beijing Stock Exchange Listing Committee’s 31st deliberation meeting in 2026 was held yesterday morning. The deliberation results show that Guangdong Jingo New Materials Co., Ltd. (hereinafter “Jingo New Materials”) meets the issuance requirements, listing requirements, and information disclosure requirements. This is the 42nd company to clear the review in 2026 (including 12 companies on the Shanghai Stock Exchange and the Shenzhen Stock Exchange combined, and 30 companies on the Beijing Stock Exchange).

Jingo New Materials’ sponsor and lead underwriter is China International Capital Corporation Limited. The signed sponsor representatives are Du Shu and Pan Chen. This is the 6th successful IPO project this year for CICC. On January 21, Jingo New Materials sponsor by CICC, Changzhou Bailuiji Bio-Pharmaceutical Co., Ltd. cleared the review; on February 5, Shandong Chunguang Technology Group Co., Ltd. cleared the review; on February 12, Henan Jiachen Intelligent Control Co., Ltd. cleared the review; on February 24, Shenghe Jingwei Semiconductor Co., Ltd. cleared the review; on March 3, Hikvision Co., Ltd. cleared the review.

Jingo New Materials is a national-level “specialized and innovative small giant” enterprise engaged in the R&D, production, and sales of functional materials. Currently, the company has product series such as heat-conducting powder materials, flame-retardant powder materials, and microwave-absorption powder materials. Downstream customers fill the company’s related products into polymer materials, enabling the final products to have heat-conducting, flame-retardant, and microwave-absorption properties. The company’s products are widely used in fields such as new energy vehicles, consumer electronics, 5G communications, and photovoltaic energy storage.

As of the date of signing of the prospectus, Huang Chaoliang directly holds 38,802,675 shares of Jingo New Materials, accounting for 57.96% of the company’s total share capital. At the same time, he holds a 62.50% partnership interest in Foshan Jinfo Investment Center (Limited Partnership) (hereinafter “Jinfo Investment”) and serves as the executive affairs partner, controlling the 15.26% shares of Jingo New Materials held by Jinfo Investment. In total, he controls 73.22% of Jingo New Materials’ shares, and he also serves as the chairman and general manager of Jingo New Materials. Therefore, Huang Chaoliang is the controlling shareholder and the actual controller of Jingo New Materials.

Jingo New Materials plans to publicly issue the shares to qualified investors other than specific parties, with a number of shares not exceeding 22.3174 million shares (without considering the over-allotment option). After the issuance is completed, the proportion of shares held by public shareholders will be no less than 25% of the company’s total share capital. During this offering, the company and the lead underwriter will determine, based on specific circumstances, whether to use an over-allotment option. If an over-allotment option is used, the number of shares to be issued will not exceed 15% of the initial offering size (i.e., 3.3476 million shares). If the over-allotment option is exercised in full, the number of shares to be issued in this offering will not exceed 25.6650 million shares. All shares in this public issuance are new shares issued publicly by the company. No shares held by existing shareholders will be offered publicly. The final number of shares to be issued will be determined through consultation between the company and the lead underwriter based on specific circumstances and regulatory requirements.

Jingo New Materials plans to raise 204.9567 million yuan in proceeds, which will be used, respectively, for the annual output 30,000-ton functional materials technical transformation project, the R&D and testing base construction project, the intelligent warehousing construction project, and replenishing working capital.

The main questions raised by the deliberation meeting are:

1. Regarding the sustainability of earnings growth. Please explain how the outlook and competitive trends in downstream industries such as new energy vehicles and consumer electronics affect the issuer’s product pricing and gross margin. Please ask the sponsor to verify and provide a clear opinion.

2. Regarding the reasonableness of raw material procurement. Please explain the reasons and rationale for the significant price differences when purchasing the same type of raw materials from different suppliers. Please ask the sponsor to verify and provide a clear opinion.

Deliberation opinions:

None.

2026 overview of IPO companies that cleared the review on the Shanghai and Shenzhen exchanges (SSE/SZSE):

2026 overview of IPO companies that cleared the review on the Beijing Stock Exchange:

(责任编辑：Ma Xin)

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