On April 24, the China Securities Regulatory Commission issued the “Approval to Register the Initial Public Offering of Shares by Hunan Xiangtou Jintian Titanium Technology Co., Ltd.”
The Zhitong Finance App learned that on April 24, the China Securities Regulatory Commission issued the “Approval to Register the Initial Public Offering of Shares by Hunan Xiangtou Jintian Titanium Technology Co., Ltd.” According to reports, Jintian Titanium plans to be listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. The IPO sponsors are Zhongtai Securities and China Aviation Securities, which plan to raise 1,045 billion yuan.
Jintian Titanium is a high-tech enterprise mainly engaged in R&D, production and sales of high-end titanium and titanium alloy materials. The company's main products are titanium and titanium alloy bars, forgings and parts, which are mainly used in high-end equipment fields such as aviation, aerospace, ships and weapons.
High-end titanium alloy products produced by Jintian Titanium are mainly aimed at the domestic military aviation market. In this field, in addition to the Jintian Titanium Industry, which can mass-produce related titanium alloy products, the main ones are Western Superconducting (688122.SH) and Baotai Co., Ltd. (600456.SH), and the competitive pattern of the industry is concentrated.
Jintian Titanium has now formed a deep technical accumulation and has proprietary core technology. With key preparation techniques in the fields of high-strength and high-toughness titanium alloys, medium-strength and high-toughness titanium alloys, titanium alloys for engines, and titanium alloys for ships, we have achieved mass production of more than 20 brands of products, such as TC18, TA15, and TC4, which strongly supports the upgrading of China's national defense equipment and guarantees the supply of key materials urgently needed by China's military industry.
According to data from the Titanium-Zirconium-Hafnium Branch of the China Nonferrous Metals Industry Association, China sold about 33,000 tons of titanium in the aerospace sector in 2022, and Jintian Titanium sold about 2,060 tons of titanium in the aerospace sector in 2022. According to this estimate, the market share of the company's titanium alloy products in the domestic aerospace market is about 6.24%.