Sou Hu Cai Jing·2025-09-02 16:45Core Insights - The rise of emerging industries in China is leading the polymer sector into the next decade, with significant opportunities in new materials related to electric vehicles, aerospace, drones, robotics, 5G/6G communication, and artificial intelligence [1] Group 1: A+H Listing Trend - The "A+H" listing strategy has become popular among Chinese listed companies, with 11 A-share companies successfully listing on the Hong Kong stock exchange as of August 26, 2023, and 49 more in the queue [1] - Many of these companies are leaders in the new energy sector, with nearly 80% having a market capitalization exceeding 20 billion RMB [1] Group 2: Polymer Industry's Global Expansion - The polymer materials industry is also accelerating its global expansion, with only a few companies like Sinopec and Shanghai Petrochemical having A+H listings, while others like Guo'en Co. and Binhua Co. are planning to list in Hong Kong [2] - Many companies in this sector have low market capitalizations and lack global leadership capabilities, which diminishes the attractiveness of overseas fundraising [2] Group 3: China Pingmei Shenma Group's Listing Plans - China Pingmei Shenma Group is actively promoting asset securitization to establish an overseas financing platform, with plans for Henan Pingmei Shenma Superhard Materials Co. to initiate a Hong Kong listing process, expected to complete by September 2026 [3] - The group aims to have 6 to 7 listed companies by 2028, following a strategy of nurturing, reserving, and listing companies in stages [3] Group 4: Financial Performance of Listed Companies - Pingmei Co. reported a revenue of 30.281 billion RMB in 2024, with a net profit of 2.350 billion RMB, a significant decrease of 41.41% year-on-year [3] - Yicheng New Energy, with a focus on wind and solar power, saw a revenue drop of 65.38% to 3.422 billion RMB in 2024, resulting in a net loss of 851 million RMB [4] - Silane Technology, the first hydrogen silane materials company listed on the Beijing Stock Exchange, reported a revenue of approximately 705 million RMB in 2024, down 37.05% year-on-year, with a net profit decline of 74.80% [5] Group 5: Shennong Co.'s Strategic Adjustments - Shennong Co. has made strategic adjustments, including establishing a subsidiary in Thailand and collaborating with international firms to enter high-end markets [7] - The company reported a revenue of 13.968 billion RMB in 2024, a 4.08% increase, but faced a net profit decline of 77.57% due to rising costs and falling product prices [8]