Core Viewpoint - Innovation Industry (02788.HK) has launched a global IPO in Hong Kong, aiming to raise approximately HKD 5.495 billion, with a share price range of HKD 10.18 to HKD 10.99, and plans to list on November 24 [1] Group 1: IPO Details - The company plans to issue around 500 million shares, with 450 million shares allocated for international placement and 50 million shares for public offering in Hong Kong [1] - The net proceeds from the IPO will be allocated as follows: approximately 50% for expanding overseas production capacity, 40% for green energy projects, and 10% for working capital and general corporate purposes [1] - The public offering period is from November 14 to November 19, with an entry fee of approximately HKD 5,550 for 500 shares [1] Group 2: Cornerstone Investors - A total of 17 cornerstone investors, including Hillhouse, China Hongqiao, and others, have committed to subscribe to the shares, with a total subscription amount of approximately USD 351 million based on the upper end of the price range [2] - The participation of cornerstone investors is expected to enhance market confidence in Innovation Industry's business and future development [2] - The company has selected cornerstone investors based on market conditions and its own value, focusing on long-term partners with industry backgrounds to create a mutually beneficial cooperation [2] Group 3: Company Overview - Innovation Industry focuses on the upstream segment of the aluminum industry chain, primarily covering alumina refining and electrolytic aluminum smelting [3] - The company operates in three stages of aluminum production: bauxite mining, alumina refining, and electrolytic aluminum smelting [3] - According to CRU, the refining and smelting stages have the highest value in the aluminum industry chain, and the company's electrolytic aluminum smelting plant in Inner Mongolia is recognized as the fourth largest in North China [3] Group 4: Financial Performance - Over the past three years, the company's revenue, gross profit, and gross profit margin have shown steady growth [4] - Revenue increased from RMB 13.49 billion in 2022 to RMB 15.16 billion in 2024, while net profit rose from RMB 0.913 billion to RMB 2.63 billion during the same period [4] - Gross profit grew from RMB 2.04 billion in 2022 to RMB 4.28 billion in 2024, with gross profit margin improving from 15.1% to 28.2% [4]
创新实业今起招股，高瓴等17家豪华基石团力挺，预计募资总额冲年内IPO前十