Core Viewpoint - Jinxun Resources, a leading manufacturer of cathode copper, successfully completed its IPO with significant oversubscription, indicating strong market interest and confidence in its business model and growth potential [1][2]. Group 1: IPO Details - Jinxun Resources conducted its IPO from December 31, 2025, to January 6, 2026, raising a total of HKD 11 billion with a share price of HKD 30 per share [1]. - The IPO was oversubscribed by 89.4 times, with HKD 99.5 billion in margin financing secured by brokers [1]. - The company plans to issue 36.76 million H-shares, with 10% allocated for public offering and 90% for international placement, along with a 15% over-allotment option [1]. Group 2: Business Overview - Jinxun Resources is recognized as a leading manufacturer of high-quality cathode copper, ranking fifth among Chinese producers based on output in the Democratic Republic of Congo and Zambia [2]. - The company focuses on developing and supplying premium copper resources to meet China's substantial demand, leveraging Africa's rich copper reserves for strategic capacity expansion [2]. - Jinxun Resources has established advanced cathode copper smelting operations in Congo and Zambia, enhancing its economic efficiency and market position [2]. Group 3: Financial Performance - The company's revenue for the years 2022, 2023, and 2024 was reported as RMB 637 million, RMB 676 million, and RMB 1.77 billion, respectively, with a net profit of RMB 83.5 million, RMB 29.1 million, and RMB 202 million for the same periods [2]. - For the six months ending June 30, 2025, the revenue was RMB 596 million, with a net profit of RMB 93.1 million, and for the subsequent six months, the revenue is projected to be RMB 964 million with a net profit of RMB 135 million [2]. Group 4: Use of Proceeds - Approximately 80% of the net proceeds from the global offering will be allocated to expanding the company's core business, while 10% will be used to repay certain interest-bearing bank loans, and the remaining 10% for working capital and general corporate purposes [3].
金浔资源招股结束 孖展认购额录得99.5亿港元 超购89.4倍