Core Viewpoint - The article highlights the recent developments of Zhongwei Co., Ltd. in the lithium battery materials sector, particularly its upcoming IPO in Hong Kong and its leading position in the market for lithium battery precursors. Company Developments - Zhongwei Co., Ltd. has recently passed the listing hearing for its IPO on the Hong Kong Stock Exchange, with Huatai International and Morgan Stanley serving as joint sponsors [3] - The company focuses on the research, development, production, and sales of new energy battery materials, primarily positive electrode active material precursors (pCAM), and holds a significant market share in this sector [3] Market Position - According to SPIR statistics, in the first three quarters of 2025, China's lithium battery ternary precursor shipment reached approximately 669,000 tons, with Zhongwei Co., Ltd. maintaining the top position and covering major clients such as Tesla, LG Energy, Samsung SDI, Panasonic, CATL, and BYD [4] Financial Performance - In the first three quarters of this year, Zhongwei Co., Ltd. achieved total revenue of 33.297 billion yuan, a year-on-year increase of 10.39%, while the net profit attributable to shareholders decreased by 15.94% to 1.113 billion yuan [6][7] - The third quarter alone saw revenue of 11.975 billion yuan, reflecting an 18.84% year-on-year growth, with a slight decline of 0.97% in net profit attributable to shareholders [6][7] Technological Advancements - The company is focusing on solid-state batteries, sodium batteries, and high-end products, with significant developments reported during the reporting period [8] - In the solid-state battery materials sector, Zhongwei Co., Ltd. is collaborating with leading battery companies to develop high-nickel ternary precursors, currently in large-scale pilot testing [8] - In the sodium battery materials field, partnerships with top battery and precursor companies are aimed at advancing layered oxide material research [9] Global Expansion - Zhongwei Co., Ltd. has established four production bases in China, three in Indonesia, and one in Morocco, with plans for additional bases in Indonesia and South Korea, indicating a rapidly forming global manufacturing system with significant localization advantages [11]