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精铸莫来石龙头金岩高新通过港交所聆讯 旗下矿山估计矿产资源超1800万吨
Zhi Tong Cai Jing·2025-11-17 22:58

Core Viewpoint - Anhui Jinyan High-Tech Materials Co., Ltd. (referred to as Jinyan High-Tech) has passed the listing hearing on the Hong Kong Stock Exchange, with Guoyuan International and Minyin Capital serving as joint sponsors [1] Company Overview - Jinyan High-Tech specializes in coal series kaolin in China, possessing a fully integrated value chain from mining, R&D, processing to production and sales [4] - The company ranks fifth in the market with a 5.4% market share in the revenue of coal series calcined kaolin companies in China as of 2024 [4] Product Offering - The main products include precision casting mullite materials and refractory mullite materials, which are essential for precision casting shells and refractory materials [4] - The company also sells semi-coke powder, which can be further processed by customers [4] Market Position - Jinyan High-Tech is the largest producer of precision casting mullite materials in China, holding a market share of 19.1% as of 2024 [5] - The market for precision casting mullite materials in China is expected to grow from RMB 972 million in 2024 to RMB 1.362 billion by 2029, with a compound annual growth rate (CAGR) of 7.0% [5] - The market for refractory mullite materials is projected to increase from RMB 5.526 billion in 2024 to RMB 6.431 billion by 2029, with a CAGR of 3.1% [5] Resource Acquisition - In October 2021, the company entered into an asset transfer agreement with Shuli Mining, acquiring the Shuli kaolin mine [5] - As of May 31, 2025, the estimated total mineral resources of the Shuli kaolin mine are approximately 18,649 thousand tons, with proven resources of 2,367 thousand tons, controlled resources of 8,990 thousand tons, and inferred resources of 7,292 thousand tons [5] Financial Performance - For the fiscal years ending December 31, the company reported revenues of approximately RMB 190.4 million in 2022, RMB 204.7 million in 2023, and projected RMB 267.1 million in 2024 [6] - The net profit and total comprehensive income for the same periods were RMB 24.4 million, RMB 43.6 million, and RMB 52.6 million respectively [6] - For the five months ending May 31, 2024, the company achieved revenue of approximately RMB 88.3 million and a net profit of RMB 14.5 million [6]