Leju Finance Wang MinOn December 18, the IPO of Founder Valve Group Co., Ltd. (hereinafter referred to as "Founder Valve") on the Beijing Stock Exchange has been accepted.
According to the prospectus, Founder Valve intends to invest 11.7 billion yuan, after deducting the issuance costs, the funds raised by the issuance plan to invest in the new 30,800 sets of high-end industrial valve production line technical transformation projects, research institute upgrading projects and supplementary working capital projects.
In terms of performance, from 2020 to 2022 and the first half of 2023 (hereinafter referred to as the "reporting period"), Founder Valve achieved operating income of 66,201450,000 yuan, 48,585280,000 yuan, 64,327220,000 yuan and 35,218260,000 yuan;Net profit was 6,411950,000 yuan, 2,215830,000 yuan, 4,301130,000 and 2,573690,000 yuan.
According to the review report, from January to September 2023, the company achieved an operating income of 50,992550,000 yuan, an increase of 17 over the same period last year47%, and the company achieved a net profit of 3,463 from January to September 2023520,000 yuan, an increase of 97 over the same period last year81%。
In terms of equity, the controlling shareholders and actual controllers of Founder Valve are Fang Gaoyuan and Fang Pintian, and the two are brothers.
As of the date of this Prospectus, Fang Gaoyuan directly held 47,843,337 shares of the Company, accounting for 4469%, indirectly holding 057% of the shares, holding a total of 45% of the company's shares25%。Fang Pintian directly holds 47,843,337 shares of the company, accounting for 44 of the company's total share capital69%。Fang Gaoyuan and Fang Pintian directly and indirectly hold a total of 89 shares of Founder Valve94%。
In addition, Wang Yitong directly holds the founder valve 604% shares, Wang Yitong is the son of Fang Gaoyuan and Fang Pintian's father's sister, and is currently the company's director and general manager.
According to the data, Fang Gaoyuan entered the company in 2015, and has been the executive director of Founder Shanghai, the core subsidiary of Founder Valve, since June 2015, mainly responsible for the operation and management of the Shanghai production base and the company's overseas sales business, since January 2018, he has served as the supervisor of Yongjia Technology, the core subsidiary of Founder Valve, and has served as the chairman of the company since December 2020, fully presiding over the company's operation and management.
Fang Pintian joined the company in 2012 and served as the executive director of Founder Shanghai, the core subsidiary of Founder Valve, from March 2012 to June 2015, the supervisor of Founder Machinery, the former wholly-owned subsidiary of Founder Valve, from December 2013 to December 2018, and the general manager of Yongjia Technology, the core subsidiary of Founder Valve, since January 2018, mainly responsible for the operation and management of Yongjia production base. From August 2018 to December 2019, he served as a director of Founder Co., Ltd., a director of Founder Valve since December 2019, and the vice chairman of Founder Valve since December 2020, assisting the chairman to preside over the operation and management.
According to the prospectus, Founder Valve is a manufacturer that provides industrial pipeline control solutions. During the reporting period, the company was mainly engaged in the design, manufacture and sales of industrial valves, and has formed a number of product series based on ball valves, gate valves, globe valves, check valves, butterfly valves and wellhead equipment, which are suitable for oil, natural gas, oil refining, chemical industry, power station, ship and many other fields. Founder Valve is a national "specialized, special and new" small giant enterprise, and has established Zhejiang Founder Special Valve Research Institute (Provincial Enterprise Research Institute) recognized by Zhejiang Provincial Department of Science and Technology, Zhejiang Provincial Economic and Information Commission, and Zhejiang Provincial Department of Human Resources and Social Security Zhejiang Provincial Postdoctoral Workstation.
Founder valve products in the industry has formed a high brand awareness and strong competitive advantage, the company has obtained the American Petroleum Institute API certification, the European Union PED (CE) directive certification, Canada CRN certification, BV French Bureau of Shipping marine valve certification, ABS American Bureau of Shipping marine valve certification, DNV Det Norske Veritas marine valve certification, CCS China Classification Society marine valve certification and other international general product certification, is PetroChina, Sinopec, CNOOC and other major domestic oil and gas, It is also a member of the key supply network of petrochemical enterprises, and is also a qualified supplier of international energy and petrochemical giants such as Shell, BP, PDO, Petronas, and SABIC.