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Jingbo Agrochemicals applies for IPO in China

Date:03-17-2017

By Think Real - In Jan. 2017, the China Securities Regulatory Commission (CSRC) published the IPO (Initial Public Offerings) and listing of Jingbo Agrochemicals Technology Co., Ltd. (Jingbo Agrochemicals), who plans to issue no less than 40.1 million regular RMB shares on the Shenzhen Stock Exchange Market to raise USD79.2 million.

 
In its prospectus, Jingbo Agrochemicals says that its raised fund will be used in five projects, including the construction of science and technology service station, the expansion of production lines for indoxacarb technical and new building of pesticide formulation production lines.
 
Table 1: Construction content of fund raising projects of Jingbo Agrochemicals
Project
Main content
Investment,
mln USD
Marketing of pesticide
formulations and   construction of
science & technology   service network
Construction of 200   technology
 service stations
14.0
Supporting personnel and   technology
 preparation for   science &
technology service   stations
3.3
Increase of 10 logistics   and storage centers
1.8
Construction of marketing,   operation
 and management   platform
3.0
Others
0.44
500 t/a green and   highly-effective
 insecticide   technical
500t/a indoxacarb   technical production lines
12.8
10,000 t/a   environmentally-friendly
 pesticide formulations
SC (capacity: 2,670t/a)
15.8
WG (capacity: 1,180t/a)
GR (capacity: 5,500t/a)
DF (capacity: 200t/a)
WP (capacity: 450t/a)
Technology center
Construction of R&D   center and
 GLP analysis center
14.2
Expenses for new product   development,
registration and patent   application
Supplement for cash flow
/
13.8
Total
79.2
Source: Jingbo Agrochemicals
 
Established on 31 May, 2011, Jingbo Agrochemicals is mainly engaged in the R&D, production and sale of pesticide technical, pesticide formulations and intermediates featured with high effect, low toxicity, low residue and environmental-friendliness. In 2015, its revenue and net profit reached USD109.8 million and USD7.6 million, decreasing by 5.5% and 29.4% year on year respectively. By the end of June 2016, the company’s assets hit USD146.5 million.
 
Jingbo Agrochemicals’ main pesticides include quizalofop-P-ethyl, nicosulfuron, kresoxim-methyl and indoxacarb. According to its published reports, in 2013, 2014, 2015 and Jan.-June 2016, the subtotal revenue from the company’s main product series including quizalofop-P-ethyl, nicosulfuron, kresoxim-methyl, emamectin benzoate, tebufenozide and indoxacarb accounted for 69.9%, 70.0%, 60.6% and 59.1% of its total revenue from main businesses respectively, contributing the most.
 
Table 2: Main products of Jingbo Agrochemicals
Category
Product
Herbicides
Quizalofop-P-ethyl,
nicosulfuron
Fungicides
Kresoxim-methyl
Insecticides
Emamectin benzoate,
tebufenozide, indoxacarb
Others
Pesticide intermediates,
plant nutrients,
soft pesticide packages
Source: Jingbo Agrochemicals

 
 
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