Core Viewpoint - Shougang Longze's IPO has been delayed due to a civil lawsuit filed by a shareholder of its subsidiary, impacting its planned listing on July 9 [1][2]. Company Overview - Shougang Longze is engaged in the Carbon Capture, Utilization, and Storage (CCUS) industry, focusing on converting carbon-containing industrial emissions into ethanol and microbial protein, while providing low-carbon comprehensive solutions [4]. - The company has a total production capacity of 210,000 tons of ethanol and 23,200 tons of microbial protein annually [4]. Financial Performance - Shougang Longze reported losses of 23.855 million yuan, 110 million yuan, and 246 million yuan for the years 2022, 2023, and 2024, respectively [4]. - The average selling price of ethanol is expected to decline significantly from 2023 to 2024 [4]. Production Facilities and Profitability - The investment return period for Shougang Longze's four production facilities is estimated to be between 8 to 11 years, with one facility achieving breakeven in 2022 [4]. - The expected breakeven years for the remaining three facilities are 2026, 2026, and 2027 [4]. Legal Issues - The lawsuit was initiated by Hainan Jiyuan, the second-largest shareholder of Ningxia Shoulang, a subsidiary of Shougang Longze, claiming unreasonable demands [2][3]. - Shougang Longze has labeled the lawsuit as "false accusations" and is committed to resolving the issue promptly [2].
港股上市前夕遭控股子公司小股东提起诉讼，首钢朗泽方面人士称对方为诬告 目前已推迟上市时间