Group 1 - The company, Jinyan Gaoling New Materials, has completed its subscription period from November 25 to November 28, with an oversubscription of 5,568 times based on a subscription amount of HKD 988 billion against a public offering amount of HKD 17.74 million [1] - The company plans to issue 24.3 million H-shares at a price of HKD 7.3 per share, aiming to raise approximately HKD 180 million, with an entry fee of HKD 3,686.8 for a minimum lot of 500 shares [1] - The company has entered cornerstone investment agreements with several entities, agreeing to subscribe for shares totaling HKD 76.2193 million under certain conditions [1] Group 2 - Jinyan Gaoling New Materials specializes in coal series kaolin in China, possessing an integrated value chain from mining, R&D, processing to production and sales [2] - According to Frost & Sullivan, the company ranks fifth in the market with a 5.4% market share in the revenue of coal series calcined kaolin companies in China for 2024 [2] - The company is the largest producer of precision casting mullite materials in China, holding a market share of 19.1% based on 2024 revenue [2] - The company's revenue for the fiscal years 2022, 2023, and projected for 2024 are approximately RMB 190 million, RMB 205 million, and RMB 267 million respectively, with net profits of RMB 24.423 million, RMB 43.617 million, and RMB 52.602 million for the same periods [2]

Core Viewpoint - Jinyan Gaoling New Materials (02693.HK) is set to launch its IPO from November 25 to November 28, 2025, with an expected listing date on December 3, 2025, on the Hong Kong Stock Exchange [3][4]. Summary by Sections IPO Details - The company plans to issue 24.3 million H-shares, representing 25% of the total shares post-IPO, with a share price set at HKD 7.30, aiming to raise approximately HKD 177 million [4][5]. - The IPO will adopt Mechanism B, with an initial public offering allocation of 10% and no reallocation mechanism [5]. - The total estimated expenses for the IPO are around HKD 53.1 million, which includes underwriting commissions and other fees [5]. Use of Proceeds - The net proceeds from the IPO are expected to be approximately HKD 124 million, with allocations as follows: - About 70.8% for deep processing projects of mullite-based aluminum-silicon materials - Approximately 20.6% for establishing a research center for silicon-aluminum new materials - Around 0.6% for repaying certain bank loans - About 8.0% for working capital and general corporate purposes [6]. Shareholding Structure - Post-listing, the shareholding structure will be as follows: - Huabei Mining Group (43.03%) - Wanhua Investment (2.06%) - Huabei Investment (29.91%) - H-share shareholders (25%) [6][7]. - The company is integrated across the entire value chain from mining to production and sales, ranking fifth in the Chinese coal series calcined kaolin market with a market share of 5.4% as of 2024 [7].

Group 1 - The company plans to globally offer 24.30 million shares, with 2.43 million shares available in Hong Kong and 21.87 million shares for international offering, along with an over-allotment option of 3.645 million shares [1] - The subscription period is set from November 25 to November 28, with a maximum offer price of HKD 7.30 per share and an entry fee of approximately HKD 3,686.82 for 500 shares [1] - The total expected fundraising amount is HKD 177 million, with a net amount of HKD 124 million, which will be used for various purposes including deep processing projects for refractory materials, establishing a research center, working capital, and repaying bank loans [1] Group 2 - The company's main business includes mining of non-coal mineral resources, manufacturing and sales of non-metallic mineral products, refractory materials, and new materials technology research and development [2] - The projected net profits for the years 2023, 2024, and the first half of 2025 are estimated at HKD 43.617 million, HKD 52.602 million, and HKD 22.690 million respectively, showing year-on-year changes of 78.59%, 20.60%, and 13.31% [2]

Group 1 - The company plans to globally offer 24.30 million shares, with 2.43 million shares available in Hong Kong and 21.87 million shares for international offering, along with an over-allotment option of 3.645 million shares [1] - The subscription period is set from November 25 to November 28, with a maximum offer price of HKD 7.30 per share and an entry fee of approximately HKD 3,686.82 for 500 shares [1] - The total expected fundraising amount is HKD 177 million, with a net amount of HKD 124 million, which will be used for various projects including the deep processing of mullite-based aluminum-silicon materials and establishing a research center for new silicon-aluminum materials [1] Group 2 - The company's main business includes mining of non-coal mineral resources, manufacturing and sales of non-metallic mineral products, refractory materials, and new materials technology research and development [2] - The projected net profits for the years 2023, 2024, and the first half of 2025 are expected to be HKD 43.617 million, HKD 52.602 million, and HKD 22.690 million respectively, with year-on-year changes of 78.59%, 20.60%, and 13.31% [2]