Shanghai Tongchuang Purun New Materials Co., Ltd., known as Tongchuang Purun, has seen its application for listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board progress to the "inquiry" stage. Guotai Haitong Securities is acting as the sponsor for the offering, which aims to raise 1.5 billion yuan.
The company's prospectus reveals its core business is the research and development, production, and sale of advanced metal materials. It possesses production capabilities for electronic-grade ultra-high-purity metals including 4N5-6N tantalum, 7N copper, 6N aluminum, and 5N manganese. Tongchuang Purun has established two main product lines: ultra-high-purity metal materials and high-purity, high-performance metal materials, and has mastered independently controllable core technologies, equipment design and development capabilities, and production processes.
The company's ultra-high-purity metal materials primarily include products such as ultra-high-purity tantalum metal, ultra-high-purity copper and alloys, and ultra-high-purity aluminum and alloys. These materials are essential for the ultra-large-scale integrated circuit and advanced display industries, serving as indispensable core raw materials for sputtering targets used in thin-film deposition processes. In the advanced display sector, ultra-high-purity metals can enhance the uniformity of large-area film layers during flat-panel display manufacturing and significantly improve key technical indicators like resolution and light transmittance. As future display technologies like high-resolution, large-size OLED and Micro-LED develop, advanced display panels will demand even higher performance from metal materials.
Tongchuang Purun can stably mass-produce 4N5-6N ultra-high-purity tantalum, which customers use to manufacture tantalum sputtering targets. As a copper interconnect barrier layer material in ultra-large-scale integrated circuit manufacturing, ultra-high-purity tantalum, due to its high melting point, excellent thermal stability, and inert compatibility with silicon and copper, effectively blocks copper atom diffusion into the silicon substrate. It is a core material for barrier layers in advanced process copper interconnect wiring.
The company is the sole domestic Chinese enterprise capable of mass-producing ultra-high-purity tantalum target blanks for 12-inch advanced processes and one of the few that can mass-produce ultra-high-purity copper, aluminum, and related alloy products for the same applications. It has passed evaluations by leading global chip manufacturers and entered mass production. Sputtering targets produced using its ultra-high-purity metal materials have achieved batch supply to major integrated circuit wafer manufacturers and advanced display panel makers.
Tongchuang Purun can also produce large-size electronic-grade high-performance aluminum alloys, such as the 6061 and 5083 series, primarily used in aluminum backplates for sputtering targets and semiconductor equipment components. Additionally, it produces various grades of high-performance die-cast aluminum alloys with broad applications in new energy vehicles, aerospace, turbo compressors, computing centers, and consumer electronics.
The company's tantalum bars and components feature high stability and uniformity and are used to produce tantalum rings, which are supporting products in the tantalum target sputtering process. Its developed niobium-tungsten and tantalum-tungsten alloy products possess excellent properties like high-temperature resistance and corrosion resistance. These have been supplied in bulk for manufacturing components like rocket engine nozzles and aero-engine parts and have been awarded "Quality Advanced Supplier" status by a leading commercial aerospace company.
Financially, for the years 2023, 2024, and 2025, the company reported operating revenues of approximately 862 million yuan, 1.543 billion yuan, and 1.97 billion yuan, respectively. Net profits for the same periods were approximately -41.6152 million yuan, 81.8481 million yuan, and about 179 million yuan.