Venture(US:VEMLY) 智通财经网·2025-09-22 05:59Core Viewpoint - Jiangsu Ronghui General Lithium Industry Co., Ltd. has withdrawn its IPO application, leading to the termination of its listing review by the Shenzhen Stock Exchange [1] Financial Performance - The company reported a total revenue of approximately 5.06 billion RMB, 15.42 billion RMB, and 59.10 billion RMB for the years 2020, 2021, and 2022 respectively [2] - Net profits for the same years were -48.68 million RMB, 404.5 million RMB, and 1.991 billion RMB [2] - The main business revenue composition for 2022 included battery-grade lithium carbonate (62.52%), battery-grade lithium hydroxide (36.92%), high-purity lithium carbonate (0.55%), and other products (0.01%) [2] Assets and Liabilities - As of December 31, 2022, total assets amounted to 5.253 billion RMB, with a debt-to-asset ratio of 33.03% [3] - The company's net profit attributable to shareholders was 1.905 billion RMB, with a basic earnings per share of 4.66 RMB [3] Supplier Concentration Risk - The company faces risks due to a high concentration of suppliers, with the top five suppliers accounting for 56.57%, 67.97%, and 92.72% of total procurement in the years 2020, 2021, and 2022 respectively [3] - The concentration of suppliers is linked to the high concentration of lithium concentrate resources in Australia and South America, with most of the company's lithium concentrate sourced from Australia and Brazil [3][4] Industry Position - Compared to peers like Ganfeng Lithium and Tianqi Lithium, the company has not yet secured lithium resources, which may adversely affect its operational performance if key suppliers reduce cooperation or fail to deliver on time [4]