新股消息 | 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

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 as joint sponsors [1][3]. 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 [3]. - The company ranks fifth in the market with a 5.4% market share in the coal series calcined kaolin sector, based on revenue projections for 2024 [3][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 [3]. - The company also sells semi-coke and semi-powder, which customers can further process [3]. Market Position - Jinyan High-Tech is the largest producer of precision casting mullite materials in China, holding a 19.1% market share according to 2024 revenue estimates [4]. - 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% [4]. - 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% [4]. Resource Base - The company has secured rich and high-quality mineral resources, including the acquisition of the Shuli kaolin mine in October 2021, which has an estimated total mineral resource of approximately 18.649 million tons [4]. Financial Performance - For the fiscal years ending December 31, Jinyan High-Tech reported revenues of approximately RMB 190.4 million in 2022, RMB 205 million in 2023, and projected RMB 267.1 million in 2024 [5]. - 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 [5]. - The company’s revenue for the five months ending May 31, 2024, is projected at RMB 88.3 million, with a net profit of RMB 14.5 million [5].