Core Viewpoint - Binhua Group has submitted an application for listing on the Hong Kong Stock Exchange, seeking to be listed on the main board, with Huatai International and Jianyin International as joint sponsors [1] Company Overview - Binhua Group is a comprehensive chemical group whose core businesses include chlor-alkali chemicals, C3 and C4 chemicals, and wet electronic chemicals [1] - The company is the largest producer in China of granular caustic soda, food-grade flake caustic soda, trichloroethylene, tetrachloroethylene, and chloropropene, as well as the largest private producer of propylene oxide in China [1] - Binhua Group is one of the few companies in China capable of producing electronic-grade hydrofluoric acid for advanced semiconductor processes [1] Business Model and Strategy - The company has established a synergistic product ecosystem by leveraging abundant upstream resources such as salt and electricity, implementing industrial synergy and resource recycling to improve efficiency and reduce costs [1] - Binhua Group actively promotes an integrated model of "new energy + chemicals" and responds to the national "dual carbon" strategy, having been awarded the title of "National Green Factory" [1] Workforce and Infrastructure - As of June 30, 2025, Binhua Group operates three manufacturing bases in China and employs over 2,500 staff [1]