Core Viewpoint - Inner Mongolia has added a new listed company with the successful IPO of Innovation Industry (02788.HK) on the Hong Kong Stock Exchange, raising a net amount of HKD 5.313 billion at an issue price of HKD 10.99 per share [2] Group 1: Company Overview - Innovation Industry's first trading day saw its share price rise to HKD 14.590, reflecting a 32.76% increase from the issue price, with a total market capitalization of HKD 29.18 billion [2] - The company is based in Hohhot, Inner Mongolia, and is controlled by billionaire Cui Lixin, who also controls another A-share listed company, Innovation New Materials (600361.SH), with a market value of RMB 15.8 billion [4] - Innovation Industry operates in the upstream sector, producing electrolytic aluminum and alumina, while Innovation New Materials operates downstream, purchasing electrolytic aluminum to produce aluminum alloys [4] Group 2: Investment and Shareholding - The IPO attracted significant investment from 18 cornerstone investors, including HHLR Advisors Ltd., China Hongqiao Group, and Taikang Life Insurance, which collectively subscribed approximately HKD 2.612 billion [2] - HHLR Advisors Ltd. received 70,741,000 shares, accounting for 14.15% of the offering, while China Hongqiao Group and Taikang Life Insurance each received 21,222,000 shares, representing 4.24% of the offering [3] Group 3: Historical Context and Financial Maneuvers - The company has a notable history involving Cui Lixin's acquisition of Inner Mongolia Chuangyuan Metal Company, where he repurchased a 51% stake for HKD 1.72 billion after initially selling it [5][6] - The aluminum industry underwent significant consolidation during 2017-2018, leading to increased valuations for remaining electrolytic aluminum companies, which benefited Innovation Industry [6] Group 4: Wealth and Market Position - Cui Lixin was ranked 481st on the 2025 Hurun Rich List with a wealth of RMB 14 billion [4] - The previous owner of the sold stake, Wenzhou Yikai Asset Management, made a profit of RMB 700 million from the transaction, indicating a strong market insight [7]
内蒙古新增一家百亿港股上市公司幕后：浙江富豪从山东富豪手里赚走7亿元