Techstorm (道生天合) formally submitted its prospectus on June 20 and intends to list on the main board of the Shanghai Stock Exchange（上海证券交易所）with China Securities（中信建投）as the sponsor.
Founded in 2015 and headquartered in Shanghai, Techstorm is specialized in the manufacturing and development of advanced chemical products related to wind energy, composites, and automotive. Techstorm covers the fields including wind power blade materials, new composite resins, new energy vehicles, and industrial adhesives. Techstorm mainly provides services for wind power, new energy vehicles, energy storage, hydrogen energy, and other new energy fields, as well as aviation, oil and gas exploitation, electric power, mold manufacturing, and other domestic and foreign customers to provide series, differentiation, and refinement of new material products comprehensive solutions. Techstorm's products in photovoltaics, consumer electronics, semiconductors, rail transit, 3D printing, 5G communications, shipping and building materials and other fields also have broad application prospects.
Techstorm intends to publicly issue not less than 58.62 million shares, while the company's shareholders will not offer shares publicly. The new shares to be publicly issued will not be less than 10% of the total share capital after this issue. The total investment of the company's proposed investment projects is approximately CNY 801 million, with CNY 800 million to be invested in fundraising. The main fund-raising projects include an annual output of 78,000 tons of new energy and power battery with high-end adhesives, high-performance composite resin system projects, repayment of bank loans and supplementary working capital.
Techstorm has formed stable cooperative relationships with many leading enterprises in the industry, including Sinoma Technology（中材科技）, Times New Material（时代新材）, Titan Wind Energy（天顺风能）, Sany Heavy Energy（三一重能）, Aeolon Technology（艾郎科技）, Goldwind Technology（金风科技）, Envision Energy（远景能源）, CSSC Haizhuang Wind Power（中国海装）, Zhejiang Windey（运达风电）, Shanghai Electric（上海电气）, Mingyang Smart Energy（明阳智能）, Vestas（维斯塔斯）, and Anderson Group（恩德集团）; new energy vehicles and supporting enterprises, such as BYD（比亚迪）, GAC（广汽）, Geely（吉利）, TE Connectivity（泰科电子）, EVE Energy（亿纬锂能）, Farasis Energy（孚能科技）, Honeycomb Energy（蜂巢能源）and Guoxuan High Tech（国轩高科）; and energy storage enterprises, such as Envision Energy（远景能源）, Bori Power(博瑞电力) and Ganfeng Lithium（赣锋集团）.
As the global energy supply continues to be tight since 2022, the importance of wind power as a clean, renewable energy source is being increasingly valued, and the installed capacity of wind power is expected to continue to rise steadily in the future. According to GWEC, the vast majority of new wind power installations worldwide will come mainly from the Chinese, European, and North American markets between 2023 and 2027; China will continue to lead the global market for new wind power installations, with China accounting for approximately 41%-46% of new wind power installations worldwide.
Techstorm is one of the largest wind turbine blade epoxy resin manufacturers in the world, and the sales of the "wind turbine blade epoxy resin series" ranked first in the world in 2022. At the same time, Techstorm ranks 2nd in China and 3rd in the world in terms of sales of structural adhesives for wind turbine blades and is currently the only Chinese company supplying both epoxy resin and structural adhesives for wind turbine blades to the international wind turbine giant Vestas（维斯塔斯）.
Due to these achievements, Techstorm has also been attracting a lot of capital attention. In terms of financing, it has gone through five rounds of financing since 2017, with investors including Renshun Capital（仁顺资本）, Jolmo Capital（金雨茂物）, Yicheng Industrial Investment（易成实业投资）, GP Capital（金浦投资）, Principle Capital（谱润投资）and Matrix Partners（经纬创投）.
In 2020, 2021, and 2022, the company's operating revenue will be CNY 3.332 billion, CNY 3.127 billion and CNY 3.436 billion respectively; net profit will be CNY 139 million, CNY 84.684 million and CNY 108 million respectively; net profit attributable to owners of the parent company after deducting non-recurring gains and losses will be CNY 158 million, CNY 71.34 million and CNY 104 billion.