Core Viewpoint - The resignation of Wu Yuehua, the general manager of Huayang New Materials, marks a significant leadership change within the company, which is undergoing a transformation in its business focus towards precious metals and related sectors [1][3][6]. Company Summary - Wu Yuehua submitted his resignation due to work changes, effective immediately, and will no longer hold any position within the company [1][3]. - The board of directors will promptly complete the election of a new director and the appointment of a new general manager [3]. - Wu Yuehua's term was originally set to end on January 9, 2026, and he has not held any company stock or unfulfilled commitments [3]. - Huayang New Materials, formerly Taihua Co., was rebranded in May 2021 as part of a strategic shift under the Huayang Group [5]. Recent Developments - In 2024, Huayang New Materials experienced significant personnel changes, including the resignation of other key executives and the appointment of new leadership [6]. - The company announced the transfer of certain land use rights to Taiyuan Chemical Industry Group, resulting in a net asset disposal gain of 119 million yuan and a land transfer subsidy of 5 million yuan from the Taiyuan Municipal Finance Bureau [6]. - This land transfer is expected to enhance asset operation efficiency and alleviate financial pressure on the company [6]. Financial Performance - For the first half of the year, Huayang New Materials reported revenue of 150 million yuan, with a net profit attributable to shareholders increasing by 266.15% year-on-year [6]. - In the first three quarters, the company achieved revenue of 326 million yuan, a year-on-year growth of 31.10%, and a net profit of 68.88 million yuan, up 178.58% [6]. - The increase in revenue is primarily attributed to higher sales of platinum nets and palladium chloride, benefiting from a recovery in the precious metals market [6][7]. Industry Outlook - Huayang New Materials has been transitioning towards precious metals since 2016, fully divesting from chemical assets by 2021 [7]. - The company now focuses on three core business segments: precious metal recycling, biodegradable materials, and sodium-ion battery materials [7]. - The precious metals processing business has a production capacity of 2,500 kg of platinum nets annually and can process 1,000 tons of waste catalysts containing precious metals [7]. - A recent report predicts that the global precious metals market will exceed $1.8 trillion by 2030, with the Chinese market expected to surpass 1.2 trillion yuan, growing at a stable annual rate of 8%-10% [8][9].

证券简称：凯大催化证券代码：830974 浙江省杭州市拱墅区康桥路 7 号 101 室 杭州凯大催化金属材料股份有限公司 杭州凯大催化金属材料股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律 效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 保荐人（主承销商） （成都市青羊区东城根上街 95 号） 1-1-1 临较大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因 素，审慎作出投资决定。 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利 能力、投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属 虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行 负责；投资者自主判断发行人 ...

证券简称：凯大催化证券代码：830974 浙江省杭州市拱墅区康桥路 7 号 101 室 杭州凯大催化金属材料股份有限公司 杭州凯大催化金属材料股份有限公司招股说明书（申报稿） 效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因 素，审慎作出投资决定。 保荐人（主承销商） （成都市青羊区东城根上街 95 号） 1-1-1 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利 能力、投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属 虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行 负责；投资者自主判断发行人 ...