Recently, according to information from the China Securities Regulatory Commission’s online service platform, the Zhejiang Securities Regulatory Bureau accepted the application submitted by Qianqianzhou New Materials Technology Group Co., Ltd. for public issuance of stocks to unspecified qualified investors and listing guidance on the Beijing Stock Exchange. The filing date is June 11, 2026, and the guidance agency is Galaxy Securities.
It is worth mentioning that on December 9, 2021, the company submitted the application materials for the initial public offering of stocks and listing on the main board to the China Securities Regulatory Commission. In March 2023, it was transferred to the Shenzhen Stock Exchange for review. The sponsors, accounting firms, and law firms were CITIC Securities Co., Ltd., Tianjian Accounting Firm (Special General Partnership) and Guoco Law Firm (Hangzhou).
However, on June 29, 2023, based on comprehensive considerations of industry development and internal and external factors, the company decided to withdraw its application for an initial public offering of shares and listing on the main board of the Shenzhen Stock Exchange. On July 7, 2023, the Shenzhen Stock Exchange decided to terminate the review of its initial public offering of shares and listing on the main board.
Qianqianzhou was established in 1999. It is mainly engaged in the research and development, production and sales of multiple categories of mid-to-high-end boards. Its main products include basic boards such as multi-layer boards, particle boards, LSB, OSB, etc., ecological boards such as ecological woodworking boards, and supporting products such as hardware.
Companies in the same industry include Tubaobao, Fenglin Group, and Yunfeng New Materials.
From the perspective of financial data, in 2023, 2024 and 2025, the company’s operating income was 4,439,788,100 yuan, 4,978,439,400 yuan and 4,911,884,900 yuan respectively; attributable to shareholders of the listed company
The net profits were 150.7222 million yuan, 94.7165 million yuan and 197.7029 million yuan respectively; the non-net profits attributable to shareholders of the listed company were 126.0310 million yuan, 73.4882 million yuan and 181.7121 million yuan respectively.
In 2025, the company’s operating income decreased by 1.34% year-on-year; net profit attributable to shareholders of the listed company and non-net profit attributable to shareholders of the listed company increased by 108.73% and 147.27% respectively year-on-year.
During the reporting period, the company’s comprehensive gross profit margins were 17.61%, 15.71% and 20.78% respectively.
Building decoration and furniture manufacturing are the most important downstream application fields of the artificial panel industry. Therefore, the end-user groups of the company’s panel products are mainly architectural decoration companies and furniture manufacturing companies.
Qianqianzhou’s previous listing application documents disclosed that the company’s investment projects with raised funds include “a high-end furniture board project with an annual output of 400,000 cubic meters”, a “low-carbon building materials (wood and bamboo) R&D center construction project”, an “information transformation project” and “supplementing working capital and repaying bank loans”, and plans to raise 709 million yuan.
In terms of ownership structure, Tonghua Investment Group Co., Ltd. directly holds 124,001,532 shares of the company, accounting for 81.60% of the company’s total shares, and is the company’s controlling shareholder.
Lu Tonghua and Lu Shanbin, father and son, collectively control 93.01% of the company’s shares. Lu Tonghua serves as the company’s chairman and Lu Shanbin serves as the company’s vice chairman. They are the actual controllers of the company.
This time Millennium Boat has launched IPO guidance on the Beijing Stock Exchange, and its future development trend deserves continued attention from the market.
