Core Viewpoint - The company, Jinyan Gaoling New Materials, has officially launched its global offering in Hong Kong, aiming to raise approximately HKD 124.3 million through the issuance of 24.3 million shares at a price of HKD 7.3 per share [3][4]. Group 1: IPO Details - The global offering consists of 24.3 million shares, with 21.87 million shares allocated for international offering and 2.43 million shares for public offering in Hong Kong [3]. - The public offering period is from November 25 to November 28, with the final offer price and allocation results expected to be announced on December 2 [3]. - Trading of the shares on the Hong Kong Stock Exchange is set to commence on December 3, with a minimum investment cost of approximately HKD 3,686.82 for 500 shares [3]. Group 2: Use of Proceeds - Approximately 70.8% of the net proceeds will be allocated to the deep processing project of mullite-based aluminum-silicon materials [3]. - About 20.6% of the funds will be used to establish a research center for silicon-aluminum new materials engineering technology [3]. Group 3: Company Overview - Jinyan Gaoling New Materials specializes in coal-based kaolin, integrating the entire value chain from mining, research and development, processing, to production and sales [4]. - The company’s products include precision casting mullite materials and refractory mullite materials, which are essential for precision casting shells and refractory materials [4]. - As of May 31, 2025, the estimated total resource of the company's Shuli kaolin mine is approximately 18.649 million tons, with an estimated total ore reserve of about 6.062 million tons [4]. Group 4: Financial Performance - The company's revenue for the years 2022 to 2024 and the first five months of 2025 are projected to be RMB 190 million, RMB 205 million, RMB 267 million, and RMB 105 million respectively [4]. - The net profit and total comprehensive income for the same periods are expected to be RMB 24.423 million, RMB 43.617 million, RMB 52.602 million, and RMB 18.032 million, indicating a steady growth in revenue and profit [4].

Core Viewpoint - Jin Yan High Alumina New Materials has initiated an IPO, planning to globally offer 24.3 million H-shares at a price of HKD 7.30 per share, with expected listing on December 3 [1] Group 1: IPO Details - The global offering consists of 10% for public sale in Hong Kong and 90% for international sale, with an additional 15% over-allotment option [1] - The company has secured cornerstone investors including Pingmei Hong Kong, Chuangli Hong Kong, Jinyuan Hong Kong, and Degao Mining, collectively subscribing for HKD 76.2193 million of the offered shares [1] Group 2: Fund Utilization - Assuming the over-allotment option is not exercised, the net proceeds from the global offering are approximately HKD 124.3 million [1] - Approximately 70.8% of the proceeds will be allocated to the deep processing project of kaolin-based aluminum-silicon materials, 20.6% for establishing a new materials engineering technology research center, 0.6% for repaying bank loans, and 8.0% for working capital and general corporate purposes [1] Group 3: Company Overview - The company specializes in coal-based kaolin in China, possessing full value chain integration capabilities from mining, R&D, processing to production and sales [1] - Its main products include precision casting kaolin materials and refractory kaolin materials, as well as coke and powder [1] - According to Frost & Sullivan data, the company ranks fifth in the market with a 5.4% market share based on revenue from coal-based calcined kaolin companies in China for 2024 [1]

Core Viewpoint - Company plans to globally offer 24.3 million H-shares at a price of HKD 7.30 per share, with the offering period from November 25 to November 28, 2025, and expected trading to commence on December 3, 2025 [1] Group 1: Company Overview - Company specializes in coal series kaolin, possessing an integrated capability across mining, R&D, processing, production, and sales [1] - Company ranks fifth in the market with a 5.4% market share in the revenue of coal series calcined kaolin in China, according to Frost & Sullivan [1] - Main products include materials for precision casting and refractory materials, which are essential for precision casting shells and refractory materials [1] Group 2: Fundraising and Use of Proceeds - Company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares totaling HKD 76.2 million, equating to 10.44 million shares at the offering price [2] - Estimated net proceeds from the global offering will be approximately HKD 124.3 million if the over-allotment option is not exercised, and an additional HKD 25.7 million if fully exercised [3] - Planned allocation of net proceeds includes approximately 70.8% for deep processing projects of aluminosilicate materials, 20.6% for establishing a new materials engineering technology research center, 0.6% for repaying bank loans, and 8.0% for working capital and general corporate purposes [3]

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 serving as joint sponsors [1] 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 [4] - The company ranks fifth in the market with a 5.4% market share in the revenue of coal series calcined kaolin companies in China as of 2024 [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 [4] - The company also sells semi-coke powder, which can be further processed by customers [4] Market Position - Jinyan High-Tech is the largest producer of precision casting mullite materials in China, holding a market share of 19.1% as of 2024 [5] - 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% [5] - 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% [5] Resource Acquisition - In October 2021, the company entered into an asset transfer agreement with Shuli Mining, acquiring the Shuli kaolin mine [5] - As of May 31, 2025, the estimated total mineral resources of the Shuli kaolin mine are approximately 18,649 thousand tons, with proven resources of 2,367 thousand tons, controlled resources of 8,990 thousand tons, and inferred resources of 7,292 thousand tons [5] Financial Performance - For the fiscal years ending December 31, the company reported revenues of approximately RMB 190.4 million in 2022, RMB 204.7 million in 2023, and projected RMB 267.1 million in 2024 [6] - 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 [6] - For the five months ending May 31, 2024, the company achieved revenue of approximately RMB 88.3 million and a net profit of RMB 14.5 million [6]

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].