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]