Zhejiang Dragon Technology Co., Ltd.(鼎龙科技) recently officially got the approval of the Securities and Futures Commission and will be successfully listed.
Established in 2007, Dragon Technology is a high-tech enterprise focusing on the research, development, production and sales of fine chemicals. Its main products can be classified into hair dye raw materials, plant protection materials and monomers of special engineering materials according to the downstream application fields.
In the past three years, the revenue of Dragon Technology was RMB 643 million, RMB 701 million and RMB 830 million respectively; the net profit was RMB 81 million, RMB 90 million and RMB 153 million respectively, with an increase of 90% during the period. Dragon Technology is one of the world's leading producers of hair dye raw materials, and has established more than 20 years of in-depth cooperation with the world's top three hair dye manufacturers. Over the years, the market share of hair dye raw material products has been at the forefront of the industry. In addition, based on the successful experience of existing products, Dragon Technology has successfully entered the field of specialty engineering materials, and has become one of the few manufacturers in the world with the ability to produce PBO monomer on its own.
The global hair dyes market size reached USD 14.082 billion in 2023 and is expected to reach USD 18.387 billion by 2028, growing at a CAGR of 5.48% during the period. Increasing consumer focus on self-grooming is boosting the growth of the hair colorants market.
In the field of hair dye raw materials, Dragon Technology has established long-term cooperation with head beauty companies such as L’ORÉAL, Henkel and Coty; in the field of plant protection materials, Dragon Technology has established stable cooperation with famous Japanese companies such as Kumiai Chemical and ARYSTA; in the field of monomers of special engineering materials, Dragon Technology has also cooperated with Mitsui Chemical. In the past three years, Dragon Technology's overseas business revenue accounted for more than 85%, of which Europe, Asia and North America are the main sales regions.
The broad market prospect of global hair dyes has led many enterprises to rush in. Domestically, there are mainly SAVOL(章华), Hanjinliang(韩金靓), Opal(澳宝), etc. Overseas, there are 3CHENES, Liese, Bigen and so on.
In this IPO, Dragon Technology intends to raise RMB 765 million, which is planned to be used to invest in the project with an annual output of 1,320 tons of special material monomers and hairdressing auxiliaries, as well as the project of replenishment of working capital, and to continue to expand the production capacity.