High-specification down product manufacturer Guqi Velvet Material (001390.SZ) plans to IPO on the Shenzhen Stock Exchange and be listed on the main board

According to the Zhitong Finance App, Guqi Velvet (001390.SZ) issued an initial public offering of shares and a prospectus of intent to list it on the main board. The number of shares offered was 50 million shares, not less than 25% of the total share capital after issuance. This offering did not involve the public sale of shareholders' shares. The initial inquiry date for this offering is May 13, 2025, and the subscription date is May 19, 2025.

The company's main business focuses on R&D, production and sales of high-specification down products. The main products are goose down and duck down products. The products are mainly used in clothing, bedding and other down products. The company's customers are mainly brands and their suppliers. The company has successively developed well-known brands such as Hailan Home (600398.SH), Senma Apparel (002563.SZ) and its children's clothing brands Barabara, Rollei Life (002293.SZ), Jihua Group (601718.SH), Bosideng (03998.HK), Peace Bird (603877.SH), and Duck Duck Co., Ltd., and has established direct partnerships with suppliers of major bedding brands.

During the reporting period, the company's revenue was 667 million yuan, 830 million yuan and 967 million yuan respectively, with a compound growth rate of 20.37%; net profit was 97.013 million yuan, 122 million yuan and 168 million yuan respectively, with a compound growth rate of 31.67%.

After deducting the issuance fee, all of the capital raised in this offering is intended to be used for the following projects: a green manufacturing project with an annual output of 2,800 tons of functional down (phase 1), a technology and R&D center upgrade project, and supplementary working capital. The total amount of capital raised this time was 501 million yuan.