The extension of the GEM IPO of the China Science and Technology Shenzhen Stock Exchange has been inquired about plans to raise 1,241.6 billion yuan

The Zhitong Finance App learned that on July 17, Yanchang Zhongke (Dalian) Energy Technology Co., Ltd. (abbreviation: Yanchang Zhongke) changed the review status of the Shenzhen Stock Exchange GEM listing review status to “Inquired”. China Merchants Securities is its sponsor and plans to raise 1,241.6 billion yuan.

According to the prospectus, Yanchang Zhongke is an overall technical solution provider focusing on the industrialization of DMTE technology from synthetic gas to ethanol. Its main business includes preparation of DMTE process packages, patented technology licensing, and R&D, production and sales of supporting core catalysts. The company's main products and services are the preparation of DMTE process packages for synthetic gas to ethanol, patented technology licenses, and supporting core catalysts.

As a type of synthetic gas indirect method for ethanol production, DMTE technology mainly produces ethanol through processes such as dehydration of methanol to dimethyl ether, carbonylation to methyl acetate, and hydrogenation. There is no water or a very small amount of water in the reaction process. The product obtained by separation is directly anhydrous ethanol, which greatly reduces the separation energy consumption of the product. At the same time, the process production equipment avoids the use of special corrosion-resistant materials, reduces investment costs, and the final product has obvious cost advantages.

The process package business is the entry point for the company's core technology output carrier and catalyst business. By providing customers in the energy and chemical fields with DMTE process package preparation and complete patent technology licensing services, downstream customers are encouraged to build industrial installations. The catalyst business provides proprietary carbonylation and hydrogenation catalysts for devices that have already been put into production. After the devices are put into production, catalysts need to be replaced regularly, which is the main source of the company's revenue and gross profit.

The company is committed to continuously becoming a leading catalytic technology industry transformation platform. DMTE technology with independent intellectual property rights can achieve clean and efficient conversion from synthetic gas resources such as coal, coke oven gas, steel mill exhaust, and even biomass to anhydrous ethanol, providing a new path for the development of the domestic and foreign ethanol industry. The company continues to increase investment in R&D and innovation in DMTE technology and downstream ethanol technology, with the goal of “extending the technology chain and filling the industrial chain” to provide low-cost, high-yield, multi-energy complementary, green and low-carbon solutions in the fields of energy and chemical engineering.

By the end of the reporting period, the company had 30 invention patents, 3 utility model patents, participated in the formulation of 2 industry standards, and undertook major R&D projects such as major science and technology projects in Liaoning Province and Dalian.

The company has successively been awarded titles such as Dalian Patent Technology Industrialization Demonstration Unit, Liaoning Province Gazelle Enterprise, Liaoning Province Manufacturing Single Champion Enterprise, Petroleum and Chemical Industry Intellectual Property Demonstration Enterprise, National Intellectual Property Advantage Enterprise, National Specialized and Innovative “Little Giant” Enterprise, and National Specialized and Innovative “Little Giant” Enterprise. The company was approved to build a technical innovation center and engineering research center for synthetic gas to ethanol in Liaoning Province, and a national postdoctoral research workstation. In December 2024, the company was awarded the “2024 Science and Technology Invention Grand Prize” by the China Petroleum and Chemical Industry Federation as the technical completion unit.

On the financial side, in 2023, 2024, and 2025, the company achieved operating income of about 343 million yuan, 395 million yuan, and 508 million yuan respectively; for the same period, net profit was approximately 148 million yuan, 198 million yuan, and 250 million yuan, respectively.