A good start：The IPO registration of Xin Hengtai, an enterprise invested by Zhejiang Venture Capital, has been approved by the China Securities Regulatory Commission (CSRC)

      On January 21, 2026, the China Securities Regulatory Commission (CSRC) issued an approval for the initial public offering (IPO) registration of Zhejiang Xinhengtai New Material Co., Ltd., an enterprise invested by Zhejiang Venture Capital, on the Beijing Stock Exchange. ​
Xinhengtai is a high-tech enterprise invested by Zhejiang Venture Capital in April 2023, specializing in the research, development, and industrialization of EVA, TPU, IXPE, and MPP (supercritical foaming materials). The company holds a 1.95% stake. Since its inception, the company has been dedicated to the research, manufacturing, and sales of functional polymer foaming materials. After more than a decade of development, it is gradually emerging as a leading enterprise in the industry. Its main products are widely used in emerging fields such as new energy vehicles, new energy batteries, and 5G-6G communications, presenting a vast market potential. Notably, MPP products rank among the top in terms of market share in the new energy battery cushion market and the 5G microwave antenna market.
       In recent years, Xinhengtai has seen steady growth in its performance. From 2022 to 2024, the company's operating revenue was 530 million yuan, 679 million yuan, and 774 million yuan respectively, showing a steady upward trend; net profit for the same period was 45.0003 million yuan, 101 million yuan, and 91.7643 million yuan respectively, with profitability continuously improving; gross profit margin was 22.98%, 27.9%, and 25.37% respectively. From January to September 2025, the company's operating revenue and net profit were 603 million yuan and 74.65 million yuan respectively, up 12.61% and 20.13% year-on-year.
      Xinhengtai places a high emphasis on R&D investment. It has established a Zhejiang Provincial Enterprise Technology Center, a Zhejiang Provincial Enterprise Research Institute, and a Zhejiang Provincial High-tech Enterprise Research and Development Center. The company has obtained 63 patents, including 24 invention patents, 38 utility model patents, and 1 design patent, forming 8 core technologies. As a national-level "Little Giant" enterprise specializing in precision, excellence, uniqueness, and novelty, a high-tech enterprise, and an enterprise drafting industry standards, the company's lightweight polymer material project has been selected into the National Key R&D Program. In the context of the "dual carbon" goals and green development, the company's green products and technological innovations will bring greater market space and competitive advantages.
      New materials constitute one of the core sectors in Zhejiang Venture Capital's strategic layout. In the future, leveraging its professional expertise and resource endowments, Zhejiang Venture Capital will proactively lead and drive the development of the new materials industry. It will solidly facilitate post-investment empowerment, precisely match the multidimensional resources required by enterprises, and assist more companies in successfully entering the capital market, growing and creating value together with them.