Shengtai Materials applies for listing on the main board, with BYD as its main customer

Recently, the Shenzhen Stock Exchange officially accepted the main board listing application materials of Hebei Shengtai Materials Co., Ltd. (hereinafter referred to as "Shengtai Materials"). Shengtai Materials was established in 2006 and focuses on the research, development, production and sales of new additives for lithium battery electrolytes. According to its prospectus, from 2020 to January-June 2023, Shengtai Materials' operating income was 158 million yuan, 275 million yuan, 433 million yuan and 295 million yuan, respectively, with an annual compound growth rate of 65.40%; the net profit attributable to the parent was 60.4802 million yuan, 120 million yuan, 196 million yuan and 139 million yuan, respectively. In the first half of 2023, BYD accounted for more than 60% of the company's total sales.