Core Viewpoint - Zhongwei New Materials (02579.HK) officially listed on the Hong Kong Stock Exchange on November 17, raising approximately HKD 35.44 billion through the issuance of 104 million H-shares priced at HKD 34 each [1] Group 1: Company Performance - On its first trading day, Zhongwei's stock price fell by 5%, resulting in a market capitalization of approximately HKD 34 billion [3] - The company has maintained its position as the global leader in the shipment of nickel and cobalt-based pCAM products for five consecutive years, with a market share of 20.3% for nickel-based pCAM and 28.0% for cobalt-based pCAM in 2024 [4][5] - For the first nine months of 2025, the company reported revenue of HKD 33.3 billion, a year-on-year increase of 10.39%, while net profit decreased by 16% to HKD 1.113 billion [5] Group 2: Market and Investment - The IPO was met with strong demand, with the public offering oversubscribed by 27.90 times and international offering by 4.08 times [5] - The company attracted nine significant cornerstone investors, collectively subscribing for approximately HKD 1.659 billion in shares [5] - The funds raised will primarily be used to expand production and supply chain capabilities (approximately 50%), research and development of new energy battery materials and digitalization (approximately 40%), and to supplement working capital [5]
上市即破发！340亿新能源材料龙头港交所遇冷