Unpublished Performance Drops: HanYu Group's Stake Acquisition Boosts Valuation Nearly 5-Fold|IPO Observation
Recently, Guangdong Joyo Advanced Materials Co., Ltd. (hereinafter referred to as "Joyo") issued its first public offering of stocks and submitted the third-round review reply for listing on the Growth Enterprise Market.
The announcement responded to concerns about the company's operating performance, major customers, etc. Meanwhile, it updated information on the 2023 operating status.
Joyo's main business is focused on the development, production, and sales of special engineering plastics, as well as the upstream key raw materials.
During the previous rounds of review inquiries, regulatory authorities raised concerns about the company's shareholding structure, related transactions, major customers, etc. In particular, they paid attention to Joyo's largest shareholder HanYu Group (300403) and its close relationships with Joyo.
One: Capital Game: HanYu Group's Stake Acquisition Boosts Valuation Nearly 5-Fold
HanYu Group is Joyo's second-largest shareholder, as well as an early-stage investor. According to the prospectus, HanYu Group holds approximately 129.71 million shares of Joyo, accounting for about 19.59% of the company.
HanYu Group has a close relationship with Joyo, serving as both a shareholder and an important customer. The group provides funds to Joyo, and the company's secretary-general Ma Jun Tao also originated from HanYu Group, returning the loan on the same day when Joyo submitted its prospectus.
...