CaiKe Technology Passes North Exchange IPO Approval, Over 50% of Revenue from Top Five Customers

GateUser-bd883c58 · 2026-03-22T05:53:01+00:00

Hebei Caike Technology underwent review by the Shenzhen Stock Exchange on March 10, primarily discussing the reasonableness of its gross profit margin being higher than that of comparable companies and the impact of fluctuations in bulk commodity prices on its performance. The company specializes in fine chemical products, encompassing various downstream applications, and has a high customer concentration.

GateUser-bd883c58

2026-03-22 05:53:01

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Beijing Stock Exchange news, on March 10th, Hebei Caike New Material Technology Co., Ltd. (referred to as “Caike Technology”) was approved for listing.

The main questions raised during the review meeting focused on combining product market position, competitive advantages, pricing power, supply and demand conditions, etc., to explain the reasonableness of gross profit margins higher than comparable companies and to analyze the impact of changes in commodity prices on the issuer’s performance stability.

Caike Technology is a high-tech enterprise specializing in the research, development, production, and sales of fine chemical products. Its main products include DMSS, DATA, DMAS, DMS, among others. Downstream applications include the production of high-performance organic pigments such as quinacridone and DPP series, food coloring lemon yellow, light stabilizers, and various other fine chemicals. Its end-use markets cover high-end coatings and inkjet inks, automotive topcoats, children’s toys, food and beverages, pharmaceuticals and cosmetics, plastic agricultural films, synthetic fibers, adhesives, and more.

Caike Technology has a high customer concentration. Data shows that from the first half of 2022 to 2025, the total sales revenue of Caike Technology’s top five customers was 232 million yuan, 215 million yuan, 253 million yuan, and 163 million yuan, respectively, accounting for 64.29%, 57.05%, 55.67%, and 57.57% of the main business income during the same period.

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