A leading enterprise in the global fiberglass industry, Chongqing International Composite Materials Co., Ltd., has successfully gone public.

Shanghai Securities News, China Securities Network reports that Chongqing International Composite Materials Co., Ltd. (hereinafter referred to as "International Composite") was officially listed on the GEM of the Shenzhen Stock Exchange on December 26, marking a new development stage for this leading enterprise in the fiberglass industry. International Composite issued 700 million new shares in this public offering, bringing its total share capital to 3.771 billion shares after the issuance. The issue price was set at 2.66 yuan per share. Based on the lower of the pre-non-deduction net profits attributable to the parent in 2022, the diluted price-to-earnings ratio (P/E ratio) is 10.21 times.

According to the "Industry Statistics Classification Guide (2023)" published by the China Association of Upper and Middle Industries, the average P/E ratio of the "Non-metallic Mineral Products Industry" to which International Composite belongs was 16.10 times in the last month. As a leading company in the global fiberglass industry, International Composite has been deeply engaged in the field of glass fiber for over 30 years, occupying an important position in the market with its differentiated and high-end product competition strategy. The company's production capacity accounts for 10% of the global fiberglass industry.

Since introducing the direct melting method fiberglass production line from Japan in 1986, International Composite has been committed to technological innovation and product upgrading, continuously enhancing the market competitiveness of its products. The successful listing of the company not only provides support from the capital market but also affirms its leading position in the global fiberglass industry.

Source: Shanghai Securities News·China Securities Network

This article is collected by China Composites Industry Association from the network, the article is not used for commercial purposes, only for the industry to communicate, please specified.