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Leidi Network, Jianping Lei, April 5
Shinghwa New Materials Group Co., Ltd. (referred to as &#34;Shinghwa&#34;) recently submitted its prospectus and is preparing to list on the Hong Kong Stock Exchange.
Shinghwa is already listed on the A-share market, and as of Friday's close, Shinghwa's stock price was 80.75 yuan, with a market capitalization of 18.8 billion yuan.
Once listed on the Hong Kong stock market, Shinghwa will form an &#34;A+H&#34; share structure.
Annual revenue of 6.8 billion with a loss of 5.88 million
Shinghwa is a comprehensive supplier of lithium-ion battery-related materials. With continuous investment in the new energy sector, Shinghwa has established a full industry chain layout covering electrolyte solvents, lithium hexafluorophosphate (LiPF6), electrolyte additives, electrolytes, and other high-end new materials.
As of December 31, 2025, Shinghwa has established five production bases across the country, located in Dongying, Shandong; Zoucheng, Shandong; Wuhan, Hubei; Quanzhou, Fujian; and Meishan, Sichuan, forming a production system of &#34;multi-base collaboration and complementary division of labor.&#34;
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Shinghwa's products are mainly divided into two categories: lithium-ion battery-related materials and fine chemicals.
The prospectus shows that Shinghwa's revenues for 2023, 2024, and 2025 are projected to be 5.635 billion, 5.547 billion, and 6.8 billion yuan, respectively; gross profits are projected to be 353 million, 294 million, and 487 million yuan, respectively; and gross profit margins are projected to be 6.3%, 5.3%, and 7.1%, respectively.
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In 2025, Shinghwa's revenue from lithium-ion battery-related materials is expected to be 4.794 billion yuan, accounting for 70.4%; revenue from fine chemicals is expected to be 1.615 billion yuan, accounting for 23.7%.
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From the perspective of revenue sources by region, Shinghwa's revenue from the Greater China region in 2025 is expected to be 5.756 billion yuan, accounting for 84.5%;
Overseas income is 1.053 billion yuan, accounting for 15.5%.
Shinghwa's operating profits for 2023, 2024, and 2025 are -52.61 million, -75.22 million, and 47.27 million yuan, respectively; the operating profit margins are -1%, -1.4%, and 0.7%, respectively;
Shinghwa's annual losses for 2023, 2024, and 2025 are 65.23 million, 70.42 million, and 5.88 million yuan, respectively; the annual profit margins are -1.2%, -1.3%, and -0.1%, respectively.
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As of December 31, 2025, Shinghwa holds cash and cash equivalents of 400 million yuan.
Guo Tianming controls 21.5% of the shares.
The executive directors of Shinghwa are Dr. Guo Tianming and Yu Haiming, while the non-executive directors are Yu Xiangjin, Jiang Weibao, Chen Wei, and Ms. Li Rongrong; the independent non-executive directors are Dr. Zhou Hongjun, Dr. Zhang Sheng, and Cui Muqin.
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Before the IPO, Shinghwa was held 7.24% by China National Petroleum Corporation Holdings, 6.53% by Rongfa Group, 6.53% by Kaitou Group, 0.86% by Shandong Weipu, and 0.35% by Dr. Guo.
As of the last practicable date, Shandong Weipu is ultimately controlled by Dr. Guo Tianming, who holds 69.44% of its equity, thus the voting rights attached to the shares held by Shandong Weipu are controlled and exercised by Dr. Guo Tianming.
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China National Petroleum Corporation Holdings, Rongfa Group, Kaitou Group, Dr. Guo, and Shandong Weipu are the single largest shareholder group, holding approximately 21.51% of the total issued shares of Shinghwa as of the latest practicable date.
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As of December 31, 2025, Beijing Zhehou New Energy Technology Development Co., Ltd. holds 11.69%, Xinghe Securities Co., Ltd. - Yong'an China Opportunity Investment No. 5 QFII account holds 2.71%, and Guotou Securities International Financial Holdings Co., Ltd. - No. 4 Investment Plan holds 2.71%;
Li Guifang holds 2.32% of the shares, Hong Kong Central Clearing Limited holds 2.31%, Dongying Qiyuan Petrochemical Co., Ltd. holds 1.77%, and Beijing Toprise Energy Trading Co., Ltd. holds 1.4%.
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Shinghwa New Materials Group Co., Ltd. recently submitted its prospectus and plans to list on the Hong Kong Stock Exchange. The company has an annual revenue of 6.8 billion, with a loss of 5.88 million, primarily engaged in lithium-ion battery-related materials. It is expected that the revenue in 2025 will be 6.8 billion, with a gross margin of 7.1%. The company has five production bases nationwide, and its products include electrolytes and high-end new materials. Guo Tianming controls 22% of the shares

Shinghwa rushes to the Hong Kong stock market: annual revenue of 6.8 billion, loss of 5.88 million, controlled 22% equity by Guo Tianming