Core Viewpoint - Ronglian Regeneration Technology International Limited has submitted an application to the Hong Kong Stock Exchange for listing on the GEM, with Zhongtai International as the sole sponsor [1]. Company Overview - Ronglian Regeneration Technology was established in March 2017 and is a manufacturer of recycled acrylic products in China, focusing on the research and production of recycled acrylic materials [3]. - The company provides recycled MMA and PMMA sheets and is committed to promoting the use of renewable resources to advance the circular economy [3]. - According to Frost & Sullivan, the company ranks first in China in terms of revenue from recycled MMA and PMMA sheets for the fiscal year ending December 31, 2024 [3]. Industry Context - The recycled acrylic and reuse industry has seen significant growth due to the Chinese government's prioritization of environmental protection [3]. - The implementation of various favorable environmental policies, such as the State Council's "Opinions on Accelerating the Construction of a Waste Recycling System" to be released in 2024, is expected to drive continuous growth in demand for the company's recycled acrylic products [3]. Production Capacity and Expansion - The production capacity of recycled MMA is projected to increase from approximately 13,776 tons in the fiscal year 2023 to about 20,448 tons in the fiscal year 2024, and around 9,432 tons in the first half of 2025 [4]. - The company plans to add two new MMA production lines in January 2024 to meet anticipated customer demand [4]. - During the reporting period, approximately 6,895 tons, 9,914 tons, and 5,918 tons of recycled MMA were used for internal production of recycled PMMA sheets, accounting for about 70.2%, 59.5%, and 83.0% of the total recycled MMA production in the respective fiscal years [4]. Financial Performance - For the fiscal years 2023, 2024, and the first half of 2025, the company's revenues were approximately RMB 133.19 million, RMB 205.03 million, and RMB 97.79 million, respectively [6]. - The company achieved profits of RMB 24.17 million, RMB 34.81 million, and RMB 7.07 million for the same periods [6].