Recently, Zhejiang Lanyu Digital Technology Co., Ltd. (hereinafter referred to as "Lanyu Co., Ltd.") updated its prospectus, and the company is about to go to the GEM meeting. It is reported that Lanyu Co., Ltd. is mainly engaged in the research and development, production and sales of digital jet printing ink in line with the national energy conservation and environmental protection strategic direction, and is a national specialized and new "little giant" enterprise and a national high-tech enterprise.
According to public research reports, from 2014 to 2021, the output of digital inkjet printed textiles in China increased from 300 million meters to 2.5 billion meters, with a compound growth rate of 3538%, far exceeding the industry by 012% average, the penetration rate gradually increased to 114%, the growth rate and penetration rate are higher than the global level. According to the statistics of China Printing and Dyeing Industry Association, China's digital inkjet printing textile output will exceed 5 billion meters in 2025, accounting for 25% of China's total printing, and the increase in the penetration rate of digital printing will drive the sustained and rapid growth of digital inkjet printing ink products in the textile field.
As a key consumable in digital jet printing technology, the digital jet printing ink produced by Lanyu Co., Ltd. is matched with core components such as digital printheads, system boards and other accessories in digital jet printing equipment, and is mainly used in the textile field. Through continuous technology research and development and process innovation, the company has reduced customers' dependence on imported ink and procurement costs, and promoted the transformation of the textile printing and dyeing industry to energy-saving, environmentally friendly and cleaner production.
The company's core technology mainly involves the formula and production process of digital inkjet ink, after years of research and development practice, the company has established a formula database, with the industry's leading formula technology, and at the same time in the production process of continuous exploration and technological innovation, the formation of a mature production process, and on this basis to form a number of core technologies, the company's core technology covers the entire process of ink product production, including raw material refining and purification, production process development and improvement, The design, optimization, analysis, testing, quality control and other aspects of ink formulation, these core technologies have been fully industrialized. Through long-term R&D investment and technology accumulation, the performance indicators of some of the company's products have reached or exceeded the level of similar imported products, up to now, the company has developed and accumulated more than 2,500 kinds of digital jet printing ink formulas used in the textile field, and has 8 invention patents and 8 utility model patents.
In addition, Lanyu shares updated the financial data and other information as of June 30, 2023. In 2020, 2021, 2022 and the first half of 2023, the revenue of Lanyu shares will be about 15.7 billion yuan, 27.2 billion yuan, 31.3 billion and 18 billion yuan, mainly in dispersed ink and active ink. From 2020 to 2022, the average annual compound growth rate of the company's main business income is 4268%, showing a good trend of rapid growth. In 2020, 2021, 2022 and the first half of 2023, the net profit of Lanyu shares will be about 3144 respectively710,000 yuan, 6046100,000 yuan, 7210020,000 and 4532940,000 yuan, net profit after deducting non-profit was about 2739220,000 yuan, 5726740,000 yuan, 7615480,000 yuan and 4256140,000 yuan.
In this sprint listing, Lanyu shares plan to raise 50.2 billion yuan, of which 35.2 billion yuan will be used for water-soluble digital printing ink construction projects (of which 29.1 billion yuan for the construction project with an annual output of 12,000 tons of water-soluble digital printing ink, 6114590,000 yuan for the construction project of R&D center and headquarters building), and 1500 million yuan to supplement liquidity.
Lanyu shares made it clear in the prospectus that the company will continue to follow the principle of market demand-oriented, customer service-based, technological innovation as the driving force, and capital market as a booster, and continuously increase R&D investment and enhance innovation capabilities. The above development strategy will effectively reduce customers' dependence on imported products and procurement costs, and promote the transformation of the textile printing and dyeing industry to energy saving, environmental protection and clean production.