A-share subscription | Meixin Technology (301588.SZ) launches subscription to build its own global brand "NewTechWood"

On March 4, MEXIN Technology (301588.SZ) began its subscription, with an issue price of 14.50 yuan per share and a subscription limit of 0.70 million shares. The price-earnings ratio is 20.90 times, and it belongs to the ChiNext board of the Shenzhen Stock Exchange, with CICC as its exclusive sponsor. According to the prospectus, MEXIN Technology is mainly engaged in the research, development, production, and sales of wood-plastic composite materials and products. Its main products include outdoor flooring, wall panels, composite flooring, and other new environmentally friendly wood-plastic profiles, which are widely used in outdoor environments such as home courtyards, balconies, public buildings, and landscape construction. Over the years, MEXIN Technology has been committed to providing customers with high-quality wood-plastic products, helping to create a high-quality and worry-free outdoor living space. With its wood-like texture covering wood-plastic product series, it has been loved by users around the world. The company's main customers currently include Home Depot, the largest home furnishings retailer in North America, and various home furnishings supermarkets, building materials wholesalers/retailers, and outdoor engineering companies. With a professional marketing network and service system covering the globe, MEXIN Technology has focused on researching user needs and actively building its own global brand "NewTechWood", successfully establishing its reputation in mature wood-plastic markets in Europe and America. With the continuous strengthening of the company's sales channel strength in recent years, it has become one of the few domestic wood-plastic manufacturers that can compete directly with international industry leaders using their own brands. The company plans to invest the funds raised in this issue in the following projects after deducting the issuance expenses: Financially, in the fiscal years of 2020, 2021, 2022, and the first half of 2023, MEXIN Technology achieved operating revenues of approximately 0.497 billion yuan, 0.695 billion yuan, 0.746 billion yuan, and 0.400 billion yuan respectively. During the same period, the net profits attributed to the owners of the parent company were approximately 65.139 million yuan, 93.469 million yuan, 84.742 million yuan, and 43.932 million yuan respectively.