Group 1 - Zhongwei New Materials Co., Ltd. ("Zhongwei New Materials") was successfully listed on the main board of the Hong Kong Stock Exchange on November 17, 2025 [2] - Ernst & Young acted as the reporting accountant, overcoming various challenges during the listing process, including heavy tasks and tight deadlines [2] - The Ernst & Young team received high recognition and praise for their quality work, dedication, and service throughout the listing process [2] Group 2 - Zhongwei New Materials specializes in the research, development, production, and sales of new energy battery materials, focusing on precursor materials for positive electrode active materials (pCAM) [3] - The company is a global leader in nickel and cobalt-based pCAM for lithium-ion batteries, ranking first in shipment volume for five consecutive years since 2020 [3] - Zhongwei New Materials has a strong customer base, supplying leading companies in the new energy materials, battery, automotive, and consumer electronics industries, including top electric vehicle battery manufacturers [3]

Core Viewpoint - Zhongwei New Materials Co., Ltd. (referred to as "Zhongwei New Materials") has officially listed on the Hong Kong Stock Exchange, opening at HKD 34.00 and closing at HKD 33.96, a slight decline of 0.12% from the issue price [1]. Summary by Sections Company Overview - Zhongwei New Materials is a company focused on the research, development, production, and sales of new energy battery materials, primarily involving precursor materials for positive electrode active materials (pCAM) and new energy metal products [1]. IPO Details - The total number of shares offered in the IPO was 104,225,400, with 10,422,600 shares allocated for public sale in Hong Kong and 93,802,800 shares for international sale. The total number of shares issued at listing (before the exercise of the over-allotment option) was 1,042,253,858 [2][3]. - The final offer price was set at HKD 34.00, resulting in total proceeds of HKD 3,543,663,600. After deducting estimated listing expenses of HKD 111,053,825, the net proceeds amounted to HKD 3,432,609,775 [2][3]. Use of Proceeds - The net proceeds from the global offering are intended to be used for expanding production and supply chain capabilities, research and development of new energy battery materials, digital transformation, working capital, and other general corporate purposes [3]. Key Investors - Key cornerstone investors include Guizhou New Industrialization Development Equity Investment Fund, Baoda Investment (Hong Kong) Limited, Zhongchu Innovation Technology Group Co., Ltd., and several others [5]. Financial Performance - For the years 2022, 2023, and 2024, Zhongwei New Materials reported revenues of RMB 30,343.7 million, RMB 34,273.2 million, and RMB 40,222.9 million, respectively. The net profits for the same years were RMB 1,539.4 million, RMB 2,100.5 million, and RMB 1,787.8 million [6][7]. - As of the nine months ending September 30, 2025, the company recorded revenues of RMB 33,297.5 million, a 10.4% increase from RMB 30,162.9 million for the same period in 2024. However, profits decreased from RMB 1,646.7 million to RMB 1,111.1 million [8][9].

Group 1 - Zhongwei New Materials Co., Ltd. (stock code 02579.HK) was listed on the Hong Kong Stock Exchange on November 17, becoming the second "A+H" company in the new energy sector after CATL [1] - The company, established in 2014, focuses on the research and development of cutting-edge new energy materials and has a global market share of 20.3% in nickel-based and 28.0% in cobalt-based pCAM as of 2024, ranking first in global shipments for five consecutive years [1] - Zhongwei New Materials has established a vertically integrated supply chain from upstream metal mining to material recycling, securing key mineral resources globally, including nickel ore in Indonesia and lithium salt in Argentina [1] Group 2 - The global new energy battery market is projected to grow from 260.6 GWh in 2020 to 1393.2 GWh in 2024, with a compound annual growth rate of 52.1%, and is expected to exceed 6019.1 GWh by 2030 [2] - The company achieved a revenue of 40.223 billion RMB in 2024, a year-on-year increase of 17.77%, and has maintained over 10% growth for three consecutive years [2] - The company raised approximately 3.628 billion HKD from its IPO, with about 50% allocated for the construction of a production base in South Korea and 15% for mining expenses in Kaiyang [2] Group 3 - The company emphasizes technology and R&D as the core of its business, aiming to enhance product performance and cost efficiency through continuous innovation [3] - The successful listing on the Hong Kong Stock Exchange opens new financing channels and strengthens the company's global integration strategy, enhancing product competitiveness [3] - The listing reflects the company's commitment to participating in international capital markets and providing new opportunities for international investors to access quality assets in the new energy sector [3]

Core Viewpoint - Zhongwei New Materials successfully listed on the Hong Kong Stock Exchange, raising approximately HKD 35.44 billion through the issuance of 104.2254 million H-shares at a price of HKD 34.00 per share [3]. Group 1: IPO Details - The IPO was oversubscribed, with a public offering receiving 27.90 times subscription and the international offering receiving 4.08 times subscription [3]. - Nine cornerstone investors participated in the IPO, collectively subscribing to shares worth approximately USD 213.5 million (around HKD 1.659 billion) [3]. Group 2: Shareholder Structure - Prior to the listing, the shareholder structure indicated that Mr. Deng Weiming and Ms. Wu Xiaoge held a combined 50.69% of the shares [4]. - Post-listing, Mr. Deng holds 2.84%, while Zhongwei Holdings, controlled by Mr. Deng (65%) and Ms. Wu (35%), holds 46.21% [5]. Group 3: Company Overview - Established in 2014, Zhongwei New Materials specializes in the research, production, and sales of new energy battery materials, particularly focusing on precursor materials for nickel and cobalt-based cathodes [5]. - The company is a global leader in the production of nickel and cobalt precursor materials, ranking first in shipment volume for five consecutive years since 2020, with market shares of 20.3% and 28.0% respectively for nickel and cobalt precursor materials in 2024 [5]. - Zhongwei New Materials has developed an integrated operation model covering the entire supply chain from upstream metal mining to recycling, offering a comprehensive product matrix including various innovative battery materials [5]. Group 4: Market Performance - As of midday trading, Zhongwei New Materials' shares were priced at HKD 32.30, with a total market capitalization of approximately HKD 33.665 billion [6]. - The IPO's trading statistics included a high of HKD 34.00, a low of HKD 32.00, and a trading volume of 10.4082 million shares, reflecting a turnover rate of 9.99% [7].

Core Viewpoint - Zhongwei New Materials is set to go public in Hong Kong with an offering price of HKD 34.00 per share, raising approximately HKD 35.44 billion, marking a significant milestone for the company in the renewable materials sector [2]. Group 1: Company Overview - Zhongwei New Materials, established in 2014, specializes in the research, production, and sales of battery materials, particularly focusing on precursor materials for lithium-ion batteries [2]. - The company is a global leader in the production of nickel and cobalt-based precursor materials for lithium-ion batteries, having ranked first in shipment volume for five consecutive years since 2020 [2]. - In 2024, Zhongwei's market share for nickel and cobalt precursor materials is projected to be 20.3% and 28.0%, respectively, with an overall market share of 21.8% for all precursor products [2]. Group 2: IPO Details - The IPO subscription period is set from November 7 to November 12, 2025, with a total of 104.2254 million H-shares being offered [3]. - The offering price range is between HKD 34.00 and HKD 37.80, with expected proceeds of HKD 35.44 billion to HKD 39.40 billion [3]. - The listing date on the Hong Kong Stock Exchange is scheduled for November 17, 2025, with Morgan Stanley and Huatai International acting as joint sponsors [3].

Group 1 - The core viewpoint of the news is that Zhongwei New Materials is conducting an IPO with significant oversubscription, indicating strong investor interest in the company and its role in the battery materials sector [1] - Zhongwei New Materials plans to issue 100 million H-shares at a price range of HKD 34 to HKD 37.8, aiming to raise up to HKD 3.94 billion, with a total estimated subscription amount of HKD 68.8 billion [1] - The company is a global leader in the production of nickel and cobalt precursor materials for lithium-ion batteries, holding market shares of 20.3% and 28.0% respectively for nickel and cobalt precursor materials in 2024 [1][2] Group 2 - In terms of overall sales value of pCAM products, Zhongwei New Materials ranks first globally with a market share of 21.8% in 2024, highlighting its dominance in the battery materials market [2] - The company's integrated operations span from upstream metal extraction to the production and recycling of new energy materials, enhancing its supply chain efficiency [2] - Zhongwei New Materials has established a global presence in its customer base, supply chain, and production facilities, which supports its growth and future development [2] Group 3 - Key cornerstone investors in Zhongwei New Materials include Guizhou New Industrialization Fund, Baoda Investment, and several others, collectively subscribing for USD 210 million [3]

Market Performance - The Shanghai Composite Index fell by 0.25% to 3997.56 points, while the Shenzhen Component dropped by 0.36% and the ChiNext Index decreased by 0.51%[1] - The Hang Seng Index closed down 0.92% at 26241.83 points, with the Hang Seng Tech Index down 1.80% and the Hang Seng China Enterprises Index down 0.94%[1] - The total market turnover in Hong Kong decreased to 2096.443 million HKD[1] Economic Indicators - The U.S. Senate is planning a test vote on a new proposal to end the government shutdown, which has lasted for 40 days[8] - China's Consumer Price Index (CPI) unexpectedly rose by 0.2% year-on-year in October, contrasting with a decline of 0.3% in September[12] - The core CPI in China, excluding food and energy, increased by 1.2% in October[12] Consumer Confidence - The U.S. consumer confidence index fell to 50.3 in early November, the lowest level in over three years, down from 53.6 in October[12] - The government shutdown is estimated to cost the U.S. economy approximately 15 billion USD per week and reduce the annualized GDP growth rate by 1.5 percentage points before mid-November[12] Sector Performance - Lithium battery stocks showed strength, while the pharmaceutical and biotechnology sectors experienced declines[1] - The chemical and fertilizer industries saw significant gains, particularly in coal and chemical sectors[1]

Group 1 - The company, Zhongwei New Materials, is conducting a global offering of 104 million shares from November 7 to November 12, 2025, with a price range of HKD 34 to HKD 37.8 per share, and expects to start trading on November 17, 2025 [1] - The company is a leader in the production and sales of precursor materials for lithium-ion batteries, holding a market share of 20.3% for nickel-based and 28.0% for cobalt-based precursors in 2024, and ranks first globally with a total market share of 21.8% for all precursor products [1][2] - The company's products are essential for lithium-ion batteries used in electric vehicles, energy storage systems, and high-demand consumer electronics, indicating strong commercial potential [1] Group 2 - The company has established an integrated operation from upstream metal mining and refining to the production and recycling of new energy materials, enhancing its global influence in the supply chain and customer base [2] - In 2024, the company ranked sixth in the global nickel product market with a market share of 3.7%, showcasing its significant presence in the industry [2] - The company has entered cornerstone investment agreements with various entities, aiming to raise approximately USD 214 million, with an estimated net proceeds of HKD 3.628 billion from the global offering, which will be allocated to production expansion, R&D, and working capital [3]

Core Viewpoint - Zhongwei New Materials (02579) is set to launch an IPO from November 7 to November 12, 2025, aiming to globally offer 104 million shares, with a price range of HKD 34-37.8 per share, and is a leader in the production of battery materials for electric vehicles and other high-demand applications [1][2]. Group 1: Company Overview - The company specializes in the research, development, production, and sales of new energy battery materials, focusing on precursor materials for positive electrode active materials (pCAM) [1]. - It has maintained its position as the global leader in the shipment of nickel and cobalt-based pCAM for lithium-ion batteries, holding market shares of 20.3% and 28.0% respectively in 2024 [1]. - The company ranks first globally in the sales value of all pCAM products, capturing a market share of 21.8% in 2024 [1]. Group 2: Integrated Operations - The company has established an integrated operation model that spans from upstream new energy metal mining, smelting, and refining to the production and recycling of new energy materials [2]. - This integrated supply chain allows the company to sell new energy metal products, primarily nickel intermediates and electrolytic nickel, along with several by-products from the nickel extraction process [2]. - In terms of production volume, the company ranked sixth in the global nickel product market in 2024, with a market share of 3.7% [2]. Group 3: Investment Agreements and Fund Utilization - The company has entered cornerstone investment agreements with various entities, aiming to raise approximately USD 214 million in shares, assuming a median offer price of HKD 35.90 per share [3]. - The estimated net proceeds from the global offering are approximately HKD 3.628 billion, assuming no exercise of the over-allotment option [3]. - The allocation of the proceeds includes approximately 50% for expanding production and supply chain capabilities, 40% for R&D and digital advancement in new energy battery materials, and 10% for working capital and other general corporate purposes [3].

Core Viewpoint - Zhongwei New Materials (02579.HK) plans to globally offer approximately 104 million H-shares, with a pricing range of HKD 34.00 to HKD 37.80 per share, aiming to raise around HKD 3.6279 billion from the offering [1][5] Group 1: Company Overview - The company is a leader in the research, development, production, and sales of new energy battery materials, particularly focusing on precursor materials for nickel and cobalt-based cathodes [2][3] - It has ranked first in global shipments of nickel and cobalt precursor materials for five consecutive years since 2020, holding market shares of 20.3% and 28.0% respectively for nickel and cobalt precursor materials in 2024 [2] - The company’s products are essential for lithium-ion batteries used in electric vehicles, energy storage systems, and consumer electronics, which have significant commercial potential [2] Group 2: Business Operations - The company has established an integrated operation from upstream new energy metal mining, smelting, and refining to the production and recycling of new energy materials [3] - It ranks sixth in the global nickel product market by production volume, with a market share of 3.7% in 2024 [3] Group 3: Investment and Financials - The cornerstone investors have agreed to subscribe for approximately USD 213.5 million (around HKD 1.6585 billion) worth of shares at a median price of HKD 35.90 per share [4] - The net proceeds from the global offering are expected to be approximately HKD 3.6279 billion, with 50% allocated to expanding production and supply chain capabilities, 40% for R&D of new energy battery materials and digital advancement, and 10% for working capital and general corporate purposes [5]