Group 1 - The core viewpoint of the news is that Zhongwei New Materials is conducting an IPO to raise funds for its operations in the new energy materials sector, particularly focusing on battery materials for electric vehicles and other applications [1][2]. - Zhongwei New Materials plans to issue 100 million H-shares with an offering price between HKD 34 and HKD 37.8, aiming to raise up to HKD 3.94 billion [1]. - The company has established itself as a global leader in the production of nickel and cobalt-based precursors for lithium-ion batteries, holding a market share of 20.3% and 28.0% for nickel and cobalt precursors respectively in 2024 [1][2]. Group 2 - In terms of overall sales value of pCAM products, Zhongwei New Materials ranks first globally with a market share of 21.8% in 2024 [2]. - The company's integrated operations span from upstream metal extraction to the production and recycling of new energy materials, enhancing its supply chain efficiency [2]. - The company has a significant global presence in its customer base, supply chain, and production facilities, which supports its growth and future development [2]. Group 3 - Key cornerstone investors in Zhongwei New Materials include Guizhou New Industrialization Fund, Baoda Investment, and several others, collectively subscribing for USD 210 million [3].

Group 1 - The core viewpoint of the news is that Zhongwei New Materials is conducting an IPO with significant oversubscription, indicating strong investor interest in the company and its role in the battery materials sector [1] - Zhongwei New Materials plans to issue 100 million H-shares at a price range of HKD 34 to HKD 37.8, aiming to raise up to HKD 3.94 billion, with a total estimated subscription amount of HKD 68.8 billion [1] - The company is a global leader in the production of nickel and cobalt precursor materials for lithium-ion batteries, holding market shares of 20.3% and 28.0% respectively for nickel and cobalt precursor materials in 2024 [1][2] Group 2 - In terms of overall sales value of pCAM products, Zhongwei New Materials ranks first globally with a market share of 21.8% in 2024, highlighting its dominance in the battery materials market [2] - The company's integrated operations span from upstream metal extraction to the production and recycling of new energy materials, enhancing its supply chain efficiency [2] - Zhongwei New Materials has established a global presence in its customer base, supply chain, and production facilities, which supports its growth and future development [2] Group 3 - Key cornerstone investors in Zhongwei New Materials include Guizhou New Industrialization Fund, Baoda Investment, and several others, collectively subscribing for USD 210 million [3]

中伟新材料股份有限公司（以下简称"中伟新材"，2579.HK）港股IPO已开启，招股期从11月7日至11月 12日，预计将于11月17日正式在港挂牌交易。 这家在A股早已上市（300919.SZ）的全球新能源材料龙头，是继宁德时代后第二家实现A+H上市的新 能源电池制造领域核心企业。 市场份额连续五年第一 中伟新材在新能源材料领域占据着全球领导者的地位，其主要从事以正极活性材料前驱体（pCAM）为 核心的新能源电池材料的研发、生产及销售。 | | | | 截至12月31日止年度 | | | | | 截至6月30日止六個月 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2022 中 | | 2023 % | | 20249 | | 2024 9: | | 2025年 | | | | | | | | (人民警于元,并分比除外) | | | | | | | | | | | | | | (关层書技) | | | | | RA . | 30,143,742 | 100.6% | 34.273.224 | 100 ...

Core Viewpoint - CNGR Advanced Material Co., Ltd. (2579.HK) is launching an IPO from today until November 12, offering 104 million H-shares at a price range of HKD 34 to HKD 37.8, with an expected listing date of November 17 [1][6]. Summary of Company Information - CNGR Advanced Material is a leading global supplier of new energy materials, primarily engaged in the research, production, and sales of positive active material precursors (pCAM) for lithium-ion batteries. The company has maintained the highest global shipment volume of nickel and cobalt-based pCAM since 2020, with market shares of 20.3% and 28.0% respectively for 2024 [7][12]. Business Model and Product Matrix - The company operates a vertically integrated business model, covering the entire value chain from raw material procurement to the production of key intermediate products and final battery materials. Its core products include nickel-based, cobalt-based, and sodium-based materials, which are essential for various applications such as electric vehicles, energy storage, and consumer electronics [10][39]. Market Opportunities - The global demand for pCAM is expected to grow significantly, driven by the surge in electric vehicle sales, which are projected to increase at a CAGR of 20.9% from 2024 to 2030. The demand for pCAM related to electric vehicles is anticipated to grow at a CAGR of 26.8% during the same period [23][25]. - The energy storage system market is also expected to see a robust growth rate of 29.7% from 2024 to 2030, further boosting the demand for pCAM [25]. Financial Data - The company's revenue has shown a consistent upward trend, with projected revenues of RMB 402.2 billion in 2024, up from RMB 342.7 billion in 2023 [48].

Major Events - LeShuShi (02698) received a subscription rate of 1813.77 times for its public offering in Hong Kong, with an expected listing date of November 10 [1] - Zhongwei New Materials (02579) is in the process of an IPO from November 7 to November 12, with an expected listing on November 17 [1] - Baili Tianheng (02615) is also conducting an IPO from November 7 to November 12, with a listing expected on November 17 [1] - Haohai Biological Technology (06826) plans to acquire the remaining 20% stake in Shenzhen New Industry Ophthalmic Technology Co., Ltd. for 74 million yuan [1] - Weili Zhibo-B (09887) has been included in the MSCI Global Small Cap Index [1] - Heng Rui Medicine (01276) has received clinical trial approval notifications for HRS-2430 injection and SHR-4610 injection [1] Financial Data - Fuzhikang Group (02038) anticipates a year-on-year revenue growth of approximately 15% and significant improvement in financial performance [1] - Boya Interactive (00434) expects a year-on-year increase of approximately 105% to 115% in profit attributable to owners for the first nine months [1] - Longfor Group (00960) reported a total contract sales amount of 55.75 billion yuan for the first ten months [1] - Longyuan Power (00916) completed a total power generation of 62.1519 million megawatt-hours in the first ten months, representing a year-on-year decrease of 0.94% [1]

Core Viewpoint - The Hong Kong stock market has seen significant IPO activity in 2025, with 78 new stocks raising a total of HKD 215.5 billion, leading the global IPO market. Notably, 14 A-share companies have listed in Hong Kong, accounting for over half of the total fundraising amount [1]. Company Overview - Zhongwei New Materials, established in 2014, specializes in the research, production, and sales of new energy battery materials, particularly focusing on precursor materials for nickel and cobalt-based cathodes (pCAM) [3][4]. - The company is a global leader in pCAM, holding a market share of 21.8% across all pCAM products, with nickel and cobalt pCAM accounting for 20.3% and 28.0% of the market share, respectively, as of 2024 [3][4]. Financial Performance - From 2022 to 2024, Zhongwei New Materials' revenue grew from CNY 30.34 billion to CNY 40.22 billion, reflecting a compound annual growth rate (CAGR) of approximately 15.6%. During the same period, net profit increased from CNY 1.54 billion to CNY 1.79 billion [5]. - For the first three quarters of 2025, the company reported revenue of CNY 33.3 billion, a year-on-year increase of 10.39%, but net profit decreased by 16% to CNY 1.11 billion [6]. Market Position and Growth Prospects - The global market for new energy materials is rapidly expanding, with the pCAM market projected to reach CNY 87.7 billion and the new energy metal market expected to reach CNY 2.4558 trillion by 2024 [10]. - The demand for new energy materials is anticipated to continue growing due to the rising needs of electric vehicles, energy storage systems, and emerging applications such as humanoid robots and low-altitude aircraft [10]. Competitive Landscape - The new energy materials industry is characterized by high concentration, with the top five manufacturers holding 76.3% of the market share in nickel pCAM and 86.2% in cobalt pCAM as of 2024 [10]. - As the industry faces increasing technological barriers and stricter environmental regulations, resources are expected to concentrate further among leading companies, positioning Zhongwei New Materials favorably to strengthen its market position [10]. IPO Details - Zhongwei New Materials is set to launch its IPO from November 7 to November 12, 2025, with a total of 104 million shares offered at a price range of HKD 34 to HKD 37.8. The company aims to raise approximately HKD 39.4 billion [2][11]. - The company has secured commitments from nine cornerstone investors, who have subscribed to 44.4% of the offering, indicating strong investor interest [2][11].

Investment Rating - The report suggests a cautious subscription for Zhongwei Co., Ltd. (2579.HK) [1] Core Insights - The company is a leader in the global market for nickel and cobalt pCAM used in lithium-ion batteries, with market shares of 20.3% and 28.0% respectively in 2024 [2] - The demand for the company's products is driven by applications in electric vehicles, energy storage systems, and consumer electronics, which have significant commercial potential [2] - The global nickel pCAM shipment is expected to grow to 3,103.7 thousand tons by 2030, with a compound annual growth rate (CAGR) of 21.6% from 2024 to 2030 [3] - The company's revenue for 2022, 2023, and 2024 is projected to be RMB 30,343.7 million, RMB 34,273.2 million, and RMB 40,222.9 million respectively, with net profits of RMB 1,539.4 million, RMB 2,100.5 million, and RMB 1,787.8 million [3] Summary by Sections IPO Details - The IPO price range is set at HKD 34 to HKD 37.8, with a total fundraising amount of HKD 3.6279 billion [1] - The total number of shares available for subscription is 10,422.54 million, with 90% allocated for international placement and 10% for public offering [1] Market Position - The company has maintained its position as the top supplier of nickel and cobalt pCAM for five consecutive years since 2020 [2] - The current IPO pricing reflects a significant discount compared to the A-share closing price, providing a safety margin for investors [4] - The estimated PE ratio for 2024 is approximately 23 times, indicating a moderate position within the industry [4] Industry Outlook - The industry for new energy batteries is in a growth phase, with substantial long-term growth potential [4] - The demand for cobalt pCAM is expected to accelerate, with shipments projected to reach 209.8 thousand tons by 2030, reflecting a CAGR of 12.7% from 2024 to 2030 [3]

Group 1 - The company Zhongwei New Materials (02579.HK) has officially launched its global offering in Hong Kong, planning to issue 104 million shares with an offering price range of HKD 34 to HKD 37.8 per share [2] - The expected net proceeds from the offering, assuming a mid-point price of HKD 35.9 and excluding related expenses, is approximately HKD 3.6279 billion, with about 50% allocated for expanding production and supply chain capabilities, and 40% for R&D in new energy battery materials and digitalization [2] - The public offering period is from November 7 to November 12, with the final offer price and share allocation results expected to be announced on November 14, and trading on the Hong Kong Stock Exchange set to begin on November 17 [2] Group 2 - Zhongwei New Materials has a comprehensive product line that includes nickel-based materials, cobalt-based materials, phosphorus-based materials, sodium-based materials, and new energy metal products, catering to leading companies in the new energy materials, battery, automotive, and consumer electronics industries [3] - The company achieved a revenue of RMB 40.223 billion in 2024, with a growth from RMB 20.086 billion in the first half of 2024 to RMB 21.323 billion in the first half of 2025, although net profit has declined from RMB 0.863 billion in the first half of 2024 to RMB 0.735 billion in the first half of 2025 [3] Group 3 - In the third quarter of 2025, the company experienced a "revenue growth without profit growth" scenario, with a year-on-year revenue increase of 18.84% but a net profit decline of 17.33% [4] - The decline in net profit is attributed to a high level of government subsidies in the same period last year and weaker marginal contributions from low-priced inventory [4]

中国电池原材料供应商中伟新材(2579.HK)今日起至下周三(11月12日)招股，发售1.04亿股H股，香港公 开发售占10%，国际配售占90%；每股招股价介乎34港元至37.8港元，集资最多39.4亿港元(绿鞋前)。一 手200股，入场费7636.24港元。该股预期11月17日上市。联席保荐人包括摩根士丹利及华泰国际。公司 拟将所得款项中，约50%用于扩大生产及供应链能力；约40%用作新能源电池材料的研发及数字化推 进，及约10%用作营运资金及其他一般企业用途。 中伟新材此次IPO共引入9名基石投资者，包括贵州新型工业化基金、厦门国贸(600755.SH)旗下宝达投 资、中创新航(3931.HK)、东圣先行科技及国泰君安证券投资(香港)、North Rock基金、上海高毅及华泰 资本投资有限公司、湖南兴湘新兴产业母基金、蓝思科技(300433.SZ)附属蓝思香港以及欣旺达电子 (300207.SZ)，合共认购近16.59亿元等值股份，以发售价中位价计涉及约4,619.76万股，占此次发售股份 约44.33%。 根据招股书，中伟新材的客户群涵盖新能源材料、电池、汽车和消费电子行业的领先企业。官网资料显 示，中 ...

根据招股书，中伟新材的客户群涵盖新能源材料、电池、汽车和消费电子行业的领先企业。官网资料显 示，中伟新材的客户包括宁德时代、特斯拉、比亚迪、丰田、LG化学、三星SDI、SK集团电动车电池 公司SK on等。 中国电池原材料供应商中伟新材(2579.HK)今日起至下周三(11月12日)招股，发售1.04亿股H股，香港公 开发售占10%，国际配售占90%；每股招股价介乎34港元至37.8港元，集资最多39.4亿港元(绿鞋前)。一 手200股，入场费7636.24港元。该股预期11月17日上市。联席保荐人包括摩根士丹利及华泰国际。公司 拟将所得款项中，约50%用于扩大生产及供应链能力；约40%用作新能源电池材料的研发及数字化推 进，及约10%用作营运资金及其他一般企业用途。 中伟新材此次IPO共引入9名基石投资者，包括贵州新型工业化基金、厦门国贸(600755.SH)旗下宝达投 资、中创新航(3931.HK)、东圣先行科技及国泰君安证券投资(香港)、North Rock基金、上海高毅及华泰 资本投资有限公司、湖南兴湘新兴产业母基金、蓝思科技(300433.SZ)附属蓝思香港以及欣旺达电子 (300207.SZ)，合 ...