Sou Hu Cai Jing·2026-01-30 05:59Core Viewpoint - Zhejiang Rongtai Electric Equipment Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1]. Company Overview - Zhejiang Rongtai is a pioneer and leader in the global new energy mica composite materials and related products, having expanded its business from mica products to key precision structural components for robots [4]. - The company holds a dominant position in the new energy mica product market in China, with a projected market share of 14.1% in 2024, significantly ahead of its competitors [4]. Market Position - According to Frost & Sullivan, Zhejiang Rongtai ranks first in the revenue of the new energy mica product market in China for 2024, with the following market share distribution: - 1st: Zhejiang Rongtai - 14.1% - 2nd: Company A - 6.4% - 3rd: Company B - 5.2% - 4th: Company E - 3.4% - 5th: Others - 1.6% [4]. Financial Performance - The revenue figures for Zhejiang Rongtai are as follows: - 2023: Approximately 800 million RMB - 2024: Approximately 1.135 billion RMB - Nine months ending September 30, 2024: Approximately 809 million RMB - Nine months ending September 30, 2025: Approximately 960 million RMB [4][6]. - The profit figures for the same periods are: - 2023: Approximately 172 million RMB - 2024: Approximately 230 million RMB - Nine months ending September 30, 2024: Approximately 167 million RMB - Nine months ending September 30, 2025: Approximately 205 million RMB [5][6]. Governance Structure - The board of directors of Zhejiang Rongtai consists of nine members, including two executive directors, three non-executive directors, and four independent non-executive directors. The chairman and CEO is Ms. Cao Meisheng, while Mr. Zheng Minmin serves as the executive director and general manager [7].