一图解码：创新实业过聆讯 聚焦铝产业链上游生产 收入稳增

Core Viewpoint - Innovation Industry has passed the Hong Kong Stock Exchange hearing and updated its post-hearing prospectus on November 9, focusing on the upstream aluminum industry chain, specifically alumina refining and electrolytic aluminum smelting [3][5]. Company Overview - Innovation Industry's business is primarily divided into the production and sales of electrolytic aluminum and alumina, with electrolytic aluminum sales contributing 76.6% of total revenue for the five months ending May 31, 2025 [3][8][12]. - The company strategically established its operations in Hohhot, Inner Mongolia, since 2012, positioning itself as the fourth largest electrolytic aluminum production base in North China by 2024 [12][14]. Financial Performance - For the five months ending May 31, 2025, Innovation Industry reported revenue of approximately 7.214 billion RMB, a year-on-year increase of 22.6%, while shareholder profit was approximately 756 million RMB, a decrease of 14.1% [3][15]. - The company's revenue and profit figures for previous years indicate a fluctuating performance, with notable growth in revenue but a decline in profit for the latest reporting period [15]. Production Capacity - As of May 31, 2025, the annual designed production capacity for electrolytic aluminum in Hohhot is 788.1 thousand tons, and for alumina in Binzhou, Shandong, it is 1.2 million tons [13][14]. - The actual production figures for the same period were 310.7 thousand tons of electrolytic aluminum and 664.5 thousand tons of alumina, with self-sufficiency rates for alumina and electricity at 70% and 87%, respectively [14]. Future Plans - The company plans to use the net proceeds from its fundraising for expanding overseas capacity, including building electrolytic aluminum smelting plants and purchasing production equipment, as well as for green energy projects and general corporate purposes [7][17]. - Innovation Industry aims to invest in a comprehensive electrolytic aluminum project in Saudi Arabia with an expected annual capacity of 500 thousand tons [12].