Shenzhen Capchem Technology Co., Ltd., an A-share company based in Pingshan District, Shenzhen, submitted its listing application to the Hong Kong Stock Exchange on August 28, 2026, marking its second attempt for a main board IPO in Hong Kong. This application follows the expiration of its previous filing on January 27, 2026.
The company, which trades on the Shenzhen Stock Exchange under the ticker 300037.SZ since January 8, 2010, had a total market capitalization of approximately RMB 49.3 billion as of the market close on August 28, 2026.
Core business overview
Established in 2002, Shenzhen Capchem Technology Co., Ltd. operates as a China-headquartered provider of electronic chemicals and functional materials. The company focuses on the research, development, manufacturing, and sales services of battery chemicals, organofluorine chemicals, and electronic information chemicals, delivering comprehensive solutions to clients across industries including new energy vehicles, energy storage systems, consumer electronics, AI and digital infrastructure, semiconductor manufacturing, pharmaceuticals, and other advanced industrial applications.
Currently, Capchem has established 32 innovation platforms and operates 13 production bases worldwide. According to Frost & Sullivan data, Capchem ranked first globally in capacitor chemicals by revenue from 2020 to 2025. The company's semiconductor chemicals business has achieved stable bulk supply to major IC manufacturers in the Chinese market. Within the electronic information chemicals segment, Capchem ranked first among domestic Chinese companies in terms of market share for semiconductor cooling liquids in the Chinese market in 2025.
Shareholding structure
According to the prospectus disclosure, prior to the Hong Kong listing, Mr. Qin Jiusan and Ms. Deng Yonghong, a married couple, along with Mr. Zhou Dawen, Ms. Zhong Meihong, Mr. Zheng Zhongtian, and Ms. Zhang Guiwen, acting in concert, collectively hold approximately 37.23% of the shares, forming the controlling shareholder group.
Board and management
The Capchem board consists of nine directors: five executive directors including Mr. Qin Jiusan (Chairman), Mr. Zhou Dawen (Vice Chairman), Mr. Zheng Zhongtian (Chief Engineer), Mr. Zhou Aiping (Executive Vice President and Employee Representative Director), and Mr. Wu Chengying (Vice President). Ms. Zhong Meihong (former Executive Vice President and Senior Advisor) serves as a non-executive director. Three independent non-executive directors include Mr. Liu Changqing (former Vice President of Xiangtan University), Mr. Chen Guohua (Professor of Chemical Engineering at Hong Kong University of Science and Technology and Chairman of Shenzhen Qichen New Energy Technology), and Ms. Li Shengnan (former Senior Business Supervisor in the Risk Control and Compliance Department of China Xiongan Group Investment Management Co., Ltd.).
Beyond the executive directors, key management includes Mr. Jiang Xisong (President), Ms. Song Hui (Vice President), Ms. Qian Yunxian (Vice President), Mr. Jiang Weijian (Vice President), Ms. Huang Yao (Chief Financial Officer), and Mr. He Jingce (Secretary to the Board and Joint Company Secretary).
Financial performance
The prospectus reveals that for the fiscal years 2023, 2024, 2025, and the first six months of 2026, Capchem recorded revenues of RMB 7.472 billion, RMB 7.836 billion, RMB 9.628 billion, and RMB 7.455 billion respectively. Corresponding net profits stood at RMB 1.014 billion, RMB 951 million, RMB 1.097 billion, and RMB 999 million for the same periods.
Advisory team
For this IPO, CITIC SEC and CICC serve as joint sponsors. Ernst & Young acts as the auditor, Zhong Lun is the company's Chinese legal counsel, Zhong Lun (Hong Kong) provides Hong Kong legal counsel to the company, Haiwen serves as the sponsors' Chinese legal counsel, Baker McKenzie acts as the sponsors' Hong Kong legal counsel, and Maishi Capital serves as the compliance advisor. Frost & Sullivan is engaged as the industry consultant.