本报记者 冯雨瑶 招股书显示，中伟新材主要从事以正极活性材料前驱体（pCAM）为核心的新能源电池材料的研究及开 发（研发）、生产及销售，以及新能源金属产品。自2020年起，公司连续五年出货量排名第一，就2024 年的镍系pCAM及钴系pCAM而言分别占市场份额的20.3%及28.0%。就全部pCAM产品的销售价值而 言，公司于2024年全球排名第一，占市场份额的21.8%。 中伟新材的募资用途指向三大核心方向，募资额的50%计划用于扩大生产及供应链能力，重点推进印尼 镍冶炼基地、韩国前驱体一体化项目及摩洛哥磷系材料基地建设；40%将用于新能源电池材料研发及数 字化推进，聚焦高镍、钠电、固态电池材料等前沿领域；剩余的10%则用作营运资金及一般企业用途。 福建华策品牌定位咨询创始人詹军豪对记者说，中伟新材在港股上市将显著提升其国际影响力，拓宽融 资渠道，为全球化产能布局和技术研发提供资金支持。同时，在港股上市将推动公司治理优化，吸引国 际资本，提升估值空间。 加速全球化布局 贵州首家"A+H"股公司诞生。A股上市公司中伟股份成功发行H股。11月17日，中伟新材料股份有限公 司（以下简称"中伟新材"）在港交所主板上 ...

公司本次港股上市募资金额约36.28亿港元，据公司披露，约50%款项将用于韩国生产基地建设；约15% 款项将用于开阳磷矿开采开支；其余款项将用于公司新能源电池材料研发和数字化推进。 对于未来发展，中伟新材在招股书中指出，技术和研发是公司业务的核心，公司将继续以研发和技术进 步为基础，推动业务增长，致力于技术卓越，通过快速迭代、增强性能和提高成本效率不断改进公司的 产品。 中伟新材成功登陆港交所，实现"A+H"上市，不仅为公司打开融资渠道，借助国际资本力量强化全球一 体化布局，进一步提升产品竞争力；更是体现了公司积极参与国际资本市场竞争、展现核心价值的决 心，为国际投资者布局新能源优质资产提供新通路。 11月17日，中伟新材料股份有限公司（以下简称"中伟新材"或"公司"，股票代码02579.HK）在香港联合 交易所主板挂牌上市，成为继宁德时代后新能源行业第二家"A+H"企业。 中伟新材成立于2014年，专注于新能源材料前沿技术研发和产业生态建设，是全球知名的新能源材料企 业，主要从事以正极活性材料前驱体（pCAM）为核心的新能源电池材料的研发、生产与销售。截至 2024年，公司镍系和钴系pCAM市场份额分别为2 ...

Group 1 - The core viewpoint of the news is that Zhongwei New Materials is conducting an IPO to raise funds for its operations in the new energy materials sector, particularly focusing on battery materials for electric vehicles and other applications [1][2]. - Zhongwei New Materials plans to issue 100 million H-shares with an offering price between HKD 34 and HKD 37.8, aiming to raise up to HKD 3.94 billion [1]. - The company has established itself as a global leader in the production of nickel and cobalt-based precursors for lithium-ion batteries, holding a market share of 20.3% and 28.0% for nickel and cobalt precursors respectively 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 [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]. - The company has a significant 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].

中伟新材料股份有限公司（以下简称"中伟新材"，2579.HK）港股IPO已开启，招股期从11月7日至11月 12日，预计将于11月17日正式在港挂牌交易。 这家在A股早已上市（300919.SZ）的全球新能源材料龙头，是继宁德时代后第二家实现A+H上市的新 能源电池制造领域核心企业。 市场份额连续五年第一 中伟新材在新能源材料领域占据着全球领导者的地位，其主要从事以正极活性材料前驱体（pCAM）为 核心的新能源电池材料的研发、生产及销售。 | | | | 截至12月31日止年度 | | | | | 截至6月30日止六個月 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2022 中 | | 2023 % | | 20249 | | 2024 9: | | 2025年 | | | | | | | | (人民警于元,并分比除外) | | | | | | | | | | | | | | (关层書技) | | | | | RA . | 30,143,742 | 100.6% | 34.273.224 | 100 ...

Core Viewpoint - CNGR Advanced Material Co., Ltd. (2579.HK) is launching an IPO from today until November 12, offering 104 million H-shares at a price range of HKD 34 to HKD 37.8, with an expected listing date of November 17 [1][6]. Summary of Company Information - CNGR Advanced Material is a leading global supplier of new energy materials, primarily engaged in the research, production, and sales of positive active material precursors (pCAM) for lithium-ion batteries. The company has maintained the highest global shipment volume of nickel and cobalt-based pCAM since 2020, with market shares of 20.3% and 28.0% respectively for 2024 [7][12]. Business Model and Product Matrix - The company operates a vertically integrated business model, covering the entire value chain from raw material procurement to the production of key intermediate products and final battery materials. Its core products include nickel-based, cobalt-based, and sodium-based materials, which are essential for various applications such as electric vehicles, energy storage, and consumer electronics [10][39]. Market Opportunities - The global demand for pCAM is expected to grow significantly, driven by the surge in electric vehicle sales, which are projected to increase at a CAGR of 20.9% from 2024 to 2030. The demand for pCAM related to electric vehicles is anticipated to grow at a CAGR of 26.8% during the same period [23][25]. - The energy storage system market is also expected to see a robust growth rate of 29.7% from 2024 to 2030, further boosting the demand for pCAM [25]. Financial Data - The company's revenue has shown a consistent upward trend, with projected revenues of RMB 402.2 billion in 2024, up from RMB 342.7 billion in 2023 [48].

Core Viewpoint - The Hong Kong stock market has seen significant IPO activity in 2025, with 78 new stocks raising a total of HKD 215.5 billion, leading the global IPO market. Notably, 14 A-share companies have listed in Hong Kong, accounting for over half of the total fundraising amount [1]. Company Overview - Zhongwei New Materials, established in 2014, specializes in the research, production, and sales of new energy battery materials, particularly focusing on precursor materials for nickel and cobalt-based cathodes (pCAM) [3][4]. - The company is a global leader in pCAM, holding a market share of 21.8% across all pCAM products, with nickel and cobalt pCAM accounting for 20.3% and 28.0% of the market share, respectively, as of 2024 [3][4]. Financial Performance - From 2022 to 2024, Zhongwei New Materials' revenue grew from CNY 30.34 billion to CNY 40.22 billion, reflecting a compound annual growth rate (CAGR) of approximately 15.6%. During the same period, net profit increased from CNY 1.54 billion to CNY 1.79 billion [5]. - For the first three quarters of 2025, the company reported revenue of CNY 33.3 billion, a year-on-year increase of 10.39%, but net profit decreased by 16% to CNY 1.11 billion [6]. Market Position and Growth Prospects - The global market for new energy materials is rapidly expanding, with the pCAM market projected to reach CNY 87.7 billion and the new energy metal market expected to reach CNY 2.4558 trillion by 2024 [10]. - The demand for new energy materials is anticipated to continue growing due to the rising needs of electric vehicles, energy storage systems, and emerging applications such as humanoid robots and low-altitude aircraft [10]. Competitive Landscape - The new energy materials industry is characterized by high concentration, with the top five manufacturers holding 76.3% of the market share in nickel pCAM and 86.2% in cobalt pCAM as of 2024 [10]. - As the industry faces increasing technological barriers and stricter environmental regulations, resources are expected to concentrate further among leading companies, positioning Zhongwei New Materials favorably to strengthen its market position [10]. IPO Details - Zhongwei New Materials is set to launch its IPO from November 7 to November 12, 2025, with a total of 104 million shares offered at a price range of HKD 34 to HKD 37.8. The company aims to raise approximately HKD 39.4 billion [2][11]. - The company has secured commitments from nine cornerstone investors, who have subscribed to 44.4% of the offering, indicating strong investor interest [2][11].

Core Viewpoint - Zhongwei Co., Ltd. (300919) has passed the listing hearing on the Hong Kong Stock Exchange, with Morgan Stanley and Huatai International as joint sponsors [1] Company Overview - Zhongwei Co., Ltd. is an innovative new energy materials company focused on the research, development, production, and sales of new energy battery materials, primarily involving precursor materials for positive active materials (pCAM) [2][3] - The company employs a vertically integrated business model, offering a comprehensive product matrix that includes nickel-based, cobalt-based, phosphorus-based, sodium-based, and other innovative new energy battery materials, as well as new energy metal products [3] Market Position - Zhongwei Co., Ltd. holds a leading global position in the supply of nickel-based and cobalt-based pCAM for lithium-ion batteries, ranking first in shipment volume for five consecutive years since 2020, with market shares of 20.3% and 28.0% for nickel and cobalt pCAM respectively in 2024 [3] - The company ranks first globally in terms of sales value for all pCAM products in 2024, capturing a market share of 21.8% [3] Revenue and Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 was approximately 30.34 billion, 34.27 billion, 40.22 billion, and 21.32 billion RMB respectively, with annual profits of about 1.54 billion, 2.10 billion, 1.79 billion, and 705 million RMB [4][5] - Revenue from direct customers outside of China has increased significantly, accounting for 33.7%, 41.1%, 44.5%, 45.4%, and 50.6% of total revenue from 2022 to the first half of 2025 [3] Supply Chain and Production - The company has established a global supply chain to secure high-quality and cost-effective resources, including nickel, phosphorus, and lithium, enhancing business resilience [4] - As of June 30, 2025, Zhongwei Co., Ltd. operates four production bases in China, three in Indonesia, and one in Morocco, with plans for additional bases in Indonesia and South Korea [4]

Core Viewpoint - Zhongwei Co., Ltd. has established itself as a leading player in the new energy battery materials sector, achieving significant growth and market leadership in the production of nickel and cobalt lithium-ion battery precursors, while also preparing for the commercialization of solid-state battery technology by 2026-2027 [1][3][6]. Company Growth and Market Position - Zhongwei's total assets increased from 2.029 billion yuan in 2017 to 74.694 billion yuan by mid-2025, with operating revenue rising from 1.861 billion yuan in 2017 to 40.223 billion yuan in 2024, and net profit increasing from 12 million yuan to 1.281 billion yuan over the same period [3]. - The company has established ten major production bases globally, with over 16,000 employees expected by the end of 2024 [3]. Strategic Initiatives - Zhongwei has taken proactive steps by predicting the high nickel trend, being the first to mass-produce high-nickel precursors, and targeting overseas markets early, establishing partnerships with companies like LG in 2016 [3][4]. - The company has initiated "industrial overseas" strategies, building four production bases in Indonesia to secure nickel resources, thus mitigating risks associated with Indonesia's nickel export bans [3][4]. Technological Advancements - Zhongwei has developed customized precursor products suitable for solid-state batteries and has shipped nearly 50 tons of solid-state battery materials [7]. - The company holds a 31.7% market share in high-nickel ternary precursors and an impressive 89.5% share in ultra-high nickel ternary precursors globally [7]. Future Outlook - The company views its recent slowdown in growth as a "gear shift" rather than a loss of momentum, with expectations of a rebound in growth driven by increasing demand in the new energy vehicle and energy storage markets [6]. - Zhongwei plans to enhance its competitive edge through continuous investment in R&D, focusing on high-nickel, solid-state, and sodium-ion battery technologies [6][8]. Value Enhancement Strategies - Zhongwei aims to anchor its value enhancement through three main paths: deepening technological innovation, improving profitability, and solidifying its ecological foundation [8]. - The company is committed to a diversified technology approach, covering various materials and establishing a comprehensive industrial ecosystem [8][9]. Recycling and Sustainability Efforts - Zhongwei has developed a robust battery recycling business, with plans to process over 50,000 tons of retired batteries and waste materials in 2024, significantly reducing carbon emissions [9]. - The company collaborates with international partners, such as CRONIMET in Germany, to enhance its recycling capabilities and expand its market reach [9][10].