新股消息 | 金浔股份二度递表港交所 专注于开发及供应优质阴极铜

Company Overview - Yunnan Jinxun Resources Co., Ltd. (referred to as JinXun) has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1] - JinXun is a leading manufacturer of high-quality cathode copper, focusing on the development and supply of premium copper resources to meet China's substantial copper demand [3][4] - The company strategically expands its production capacity by utilizing Africa's rich copper reserves and has achieved deep integration across the entire industry value chain [3] Production and Operations - As of December 31, 2024, JinXun ranks fifth among Chinese cathode copper producers based on production in the Democratic Republic of the Congo (DRC) and Zambia, being the only Chinese company in the top five in both jurisdictions [3] - In 2024, the company produced approximately 16,000 tons of cathode copper in the DRC and 5,000 tons in Zambia [3] - JinXun operates two copper smelting plants and one copper concentrate flotation plant in Zambia, and one copper smelting plant in the DRC [4][6] Financial Performance - JinXun's revenue for the fiscal years ending December 31 was RMB 637.3 million in 2022, RMB 675.7 million in 2023, and projected RMB 1.77 billion in 2024, with RMB 964 million for the six months ending June 30, 2025 [8][10] - The company recorded profits of RMB 83.5 million in 2022, RMB 29.1 million in 2023, RMB 202.4 million in 2024, and RMB 135 million for the six months ending June 30, 2025 [9][10] - Gross profit margins were 26.8% in 2022, 19.3% in 2023, 20.8% in 2024, and 23.1% for the six months ending June 30, 2025 [11] Industry Overview - The global cathode copper market is projected to grow, with production increasing from 2.19 million tons in 2025 to 2.47 million tons by 2029, reflecting a compound annual growth rate (CAGR) of 3.0% [16] - Global cathode copper consumption is expected to rise from 2.78 million tons in 2025 to 3.05 million tons by 2029, with a CAGR of 2.3% [16] - The demand for cathode copper is driven by the renewable energy sector and electric vehicles, highlighting its critical role in infrastructure and technology [15]