CNGR(SZ:300919) Sou Hu Cai Jing·2025-11-07 06:49Core Viewpoint - Zhongwei Co., Ltd. is in the process of issuing H-shares and listing on the Hong Kong Stock Exchange, with the initial price range set between HKD 34 and HKD 37.8, indicating a premium of 27.7% to 35.02% compared to its A-share price [1][5]. Group 1: H-Share Issuance Details - The global offering of H-shares is expected to end on November 12, with a base issuance of 10,422,540 shares, where 10% is allocated for public offering in Hong Kong and 90% for international offering [5]. - The H-share public offering began on November 7 and is anticipated to conclude on November 12, with the issuance price expected to be announced on November 14 [5]. - The maximum number of H-shares that can be issued, including the exercise of the over-allotment option, is 120 million shares [5]. Group 2: Financial Performance - In the first three quarters of 2025, Zhongwei Co., Ltd. achieved a revenue of CNY 33.297 billion, a year-on-year increase of 10.39%, and a net profit attributable to shareholders of CNY 1.113 billion [7]. - For the third quarter, the company reported a revenue of CNY 11.975 billion, reflecting an 18.84% year-on-year growth, with a net profit of CNY 380 million [7][6]. Group 3: Market Position and Products - Zhongwei Co., Ltd. is a leading player in the research, production, and sales of new energy battery cathode materials and precursors, holding the top global market share in nickel and cobalt materials for five consecutive years [6]. - The company’s proprietary products, such as 4.47V high-voltage lithium cobalt oxide and NCM811, are widely used in various sectors, including consumer electronics and energy storage [6].