Global New Cloth (6616.HK): Dominating two recent materials with a market piece of RMB100 billion

HONG KONG, July 8, 2021 – (ACN Newswire) – New materials, with the recent global downside, has turn out to be a key section for overcoming market challenges, and is favoured by national strategic building planning policies. Pearlescent materials and synthetic mica are high price-added recent materials. Global New Cloth (6616.HK), which applied its IPO from June 30 to July 6 and plans to downside 290 million shares at HKD3.52-4.22 when it lists July 16, produces China’s market-leading shares in both.

Pearlescent materials are anticipated to enhance, achieving a market size of over RMB140 billion.

Pearlescent materials agree with dominant advantages when compared with old pigments. As a recent consumable field fabric with out a determined change lifestyles cycle, pearlescent pigments are with out discover changing old natural pigments and steel pigments, and are broadly applied in coatings, inks, plastics, cosmetics, vehicles, aerospace and totally different fields. As blueprint forth in the Classification of Strategic Rising Industries (2018) issued by the central government, pearlescent materials are included in the pigment manufacturing sector of strategic rising industries.

Global New Cloth, which stays centered on technology, plays a number one feature in the sphere of pearlescent materials. With the solid strengthen of the technical crew, headed by Professor Jiansheng Fu, a global-worthy pearlescent field fabric educated is named the leading authority on pearlescent materials in China, and father of chameleon pearlescent materials, Global New Cloth can originate over 100 recent products yearly, including silicon ball sequence, the Light of the Destroy of day sequence, and totally different modern traces of products leading the worldwide change.

Global New Cloth has supplied its products in China and to extra than 30 international locations and areas in Asia, Europe, Africa and South The US. As shown in a file issued by Frost & Sullivan, close to corporate revenue, Global New Cloth became the biggest manufacturer of pearlescent materials and the change leader in China in 2020 with a market piece of 11.0%, primarily the most convenient company in China that occupies a market piece of over 10%.

In the worldwide market, Global New Cloth ranked as the fourth largest manufacturer of pearlescent materials in 2020 with a market piece of 3.0% which is handiest 0.2% decrease than that of the third largest one. Global New Cloth is at this time in the explosive stage of acquiring a market piece of RMB140 billion.

On the entire, the worldwide pearlescent field fabric market is on the proper rise with the market settle reaching RMB18.9 billion in 2020 and with a compound annual convey rate of 19.2% from 2016 to 2020. Brooding about that the entire market size of the worldwide pigment market is at this time RMB160 billion, pearlescent pigments are anticipated to change totally different pigments and attain a bigger market piece.

As forecasted by Frost & Sullivan, in look of consumption beef up and of the reality that pearlescent materials are progressively changing totally different pigments, the market size of the pearlescent field fabric market will attain RMB44.6 billion in 2025, and the compound annual convey rate of the worldwide pearlescent pigment market will additional climb to 23.9% from 2021 to 2025, indicating that the change is in the explosive convey stage. (Chart #1)

In the mid-to-high-waste consumer sector, the market piece occupied by pearlescent materials is increasing at an expedited tempo.

In response to recordsdata, the market size of car-grade pearlescent materials reached RMB950 million in 2020, accounting for five.0% of the general market size of the pearlescent materials market. In the sphere of cosmetics, the market size of beauty-grade pearlescent materials is additionally on the proper rise. Recordsdata presentations that from 2021 to 2025, pearlescent materials to be applied in the worldwide car market and the worldwide cosmetics market will abilities a compound convey rate of 47.1% and 32.8% respectively. (Chart #2)

In the client sectors, especially in the mid-to-high-waste consumer sector, pearlescent materials that are gaining a better market piece will proceed to force the brief building of Global New Cloth.

Alternatively, besides to to pearlescent materials, synthetic mica that would possibly maybe well additionally very neatly be a recent field fabric extending to the upstream of the industrial chain and having core technical advantages is additionally giving solid strengthen to the improvement of Global New Cloth.

From pearlescent materials to gas cells, synthetic mica is of enormous market probably

Synthetic mica is broadly applied in totally different fields, and is ancient as a depraved field fabric of pearlescent materials. First-generation pearlescent materials are natural mica-based mostly, and all-natural mica materials at this time ancient are imported from India as natural mica in China has been exhausted. In this context, primarily the most inviting acknowledge for achieving localization and warding off reliance on imported applied sciences is to change natural mica with synthetic mica.

Recordsdata presentations that the market piece of synthetic mica-based mostly pearlescent pigments has increased from 5.3% in 2016 to 11.7% in 2020. Pushed by the technology advancement and productiveness improvement of synthetic mica, the market piece of synthetic mica-based mostly pearlescent pigments in the worldwide market is anticipated to be triumphant in 23.6% in 2025, and the bogus mica-based mostly pearlescent pigment market will herald a compound annual convey rate of 47.6% from 2021 to 2025.

Mica products are additionally broadly ancient in producing insulating materials and refractory materials that are additional ancient in electrical energy, high-temperature smelting, household home equipment and totally different fields. In 2020, the market size of mica applied in producing pearlescent materials, in producing refractory materials, and in producing insulating materials reached RMB1.38 billion, RMB7.66 billion, and RMB3.70 billion respectively.

Furthermore, synthetic mica products with higher total performance than natural mica products are calm extending to better-waste markets, including the sphere of gas cells that is the point of curiosity of primarily the most attention available in the market. Furthermore, these materials could even be additional applied to semiconductors and totally different decreasing-edge fields.

Given that synthetic mica-based mostly products place higher insulation, high-temperature resistance and corrosion resistance than natural mica-based mostly products, synthetic mica-based mostly products are extra inclined to be ancient in better-waste fields and broader functions. For instance, synthetic mica-based mostly products are broadly ancient in producing beauty-grade and car-grade pearlescent pigment products, and in the thermal insulation field fabric change and even the gas cell field of recent energy vehicles.

Mica could even be ancient as a high-temperature proton change membrane for gas cells. Analysis figured out that compared with graphene, which is developing as a proton-conducting field fabric, mica performs higher close to proton conductivity and thermal steadiness. At 150 levels Celsius, mica membrane presentations proton conductivity extra than 2 instances better than that required for commercialization, which indicates that vehicles designed with gas cells the utilization of mica membranes can agree with a vastly improved mileage.

At this time, mica membrane as a recent form of proton-conducting membrane field fabric with high proton conductivity has taken shape in the study and building route of. Analysis figured out that the handled mica movies place vastly improved proton conductivity and agree with their service temperature having been increased from 100 levels Celsius to 500 levels Celsius, and that the utility of such movies with high proton conductivity and honest heat resistance in bettering existing gas cells will boost the improvement of the sphere of gas cell vehicles.

Global New Cloth, which ranks first in the bogus mica change, is anticipated with a unbiased to fully exploit the means of this field. In 2015, the Ministry of Trade and Recordsdata Expertise of the Of us’s Republic of China listed synthetic mica as one among the 18 key general recent materials for the national industrial upgrading project, and handiest CHESIR (now Global New Cloth) became authorized to put off on this project.

As primarily the most convenient company in the change that possesses all the core applied sciences of synthetic mica, Global New Cloth has successfully solved the foremost technical difficulties similar to control instability, wretched insulation performance, and hardness and brittleness precipitated by high fluorine stammer, and has realized the localization of the manufacturing of high quality synthetic mica with the realm-leading quality level of synthetic mica products. Besides, Global New Cloth is additionally increasing functions of synthetic mica.

Global New Cloth’s industry scale is at this time ranking first in the worldwide change.

In the worldwide synthetic mica-based mostly pearlescent materials market, top five market gamers ranked by corporate revenue in 2020 occupied a entire market piece of 28.1%, and Global New Cloth ranked first with a market piece of 8.9% which is 3.4% better than that of the 2d one. In the domestic market, Global New Cloth ranked first with a market piece of 25.4% which is extra than twice the market piece of 12.5% of the 2d player. (Chart #3)

With critical advantages close to technology and industry scale, Global New Cloth can agree with immeasurable building prospects goodbye because it will commercialize synthetic mica in the sphere of gas cells. As a plug-setter in the worldwide recent field fabric market which is gaining market piece and has feature for future building, Global New Cloth will appear in the secondary market at a unbiased correct looking out corporate valuation.

Global New Cloth calm has an advantage in corporate valuation below the force of two kinds of recent consumable materials

Global New Cloth at this time has a piece capital of 1.163 billion shares at a project mark of HKD3.52-HKD4.22, with a entire market price of HKD4.094 billion to HKD4.909 billion.

Global New Cloth had its discover revenue attributable to shareholders reaching RMB77.402 million, RMB103 million and RMB148 million respectively from 2018 to 2020, and had the discover revenue attributable to shareholders in 2019 and 2020 exhibiting a One year-on-One year develop of 33.07% and 43.69% respectively. It is estimated based totally on these recordsdata that Global New Cloth’s mark-to-earnings ratio will attain 15x-18x in 2021.

Ganfeng Lithium, a listed company on HKEx that is engaged in the upstream fields of the recent energy battery, is anticipated to attain a mark-to-earnings ratio of about 64x in 2021, and Flat Glass Neighborhood, engaged in the change of recent energy photovoltaic glass materials, is anticipated to attain a mark-to-earnings ratio of 23x in 2021. This implies that as an change-leader possessing core applied sciences critical for manufacturing two kinds of recent consumable materials, Global New Cloth is of enormous probably to develop its corporate valuation.

Furthermore, as soon as its 2d-piece plant, with an annual output of 30,000-ton synthetic mica, is carried out and set into operation, Global New Cloth will be ready to put off control of the upstream fields in the worldwide provide chain of synthetic mica products, to put off a number one blueprint in the pearlescent field fabric change and the bogus mica change, and as a result, to additional strengthen its discover profitability in the lengthy bustle.

Due to this truth, a wave of funding is anticipated to be brought on as soon as Global New Cloth is formally listed on July 16.


Haolu Wang, Peanutmedia

E: [email protected]


Subject: Press release summary

Source: PeanutMedia

Sectors: Each day Finance

From the Asia Corporate Recordsdata Network

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