New stock news: Shandong Nanshan Aluminium has filed for listing on the main board of the Hong Kong Stock Exchange, becoming one of the three largest alumina production companies in Southeast Asia.

According to the news from the Hong Kong Stock Exchange on September 26th, Nanshan Aluminium International Holdings Limited (Shandong Nanshan Aluminium International) has submitted an application to the main board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor. According to the prospectus, Shandong Nanshan Aluminium International is a high-quality alumina manufacturer in Southeast Asia, committed to strengthening its market position in the region. Since its establishment, the company has focused on developing Indonesia's abundant bauxite and coal resources to power its operations. According to Frost & Sullivan data, as of the end of 2023, the main alumina-producing countries in Southeast Asia are Indonesia and Vietnam. Shandong Nanshan Aluminium International is one of the three largest alumina producers in Southeast Asia. The completion of the second phase of the alumina production project has increased the company's annual alumina design capacity to two million tons, ranking first in Indonesia and Southeast Asia based on the 2023 design capacity. To support its strategy of further expanding its market share in Southeast Asia, Shandong Nanshan Aluminium International has commenced the construction of a new alumina production project in the first half of 2024 to add alumina production facilities, with an annual alumina design capacity of two million tons. The company's metallurgical-grade alumina is a key raw material for producing electrolytic aluminum and is in strong demand in the Southeast Asian market due to its crucial role in meeting the strict requirements for high-performance aluminum products. Following the successful completion of the first and second phase alumina production projects (with a total alumina design capacity of two million tons), the company is now planning to further expand its capacity. During the reporting periods, the company's customers include downstream manufacturers and global commodity market traders. The former processes the company's alumina into electrolytic aluminum, while the latter resells the company's products to downstream aluminum or aluminum product manufacturers or other traders. Press Metal Group, the largest customer of Shandong Nanshan Aluminium International, accounted for 73.3%, 53.3%, 47.0%, and 49.8% of the company's revenue in the fiscal years 2021, 2022, 2023, and the first half of 2024, respectively. During the reporting period, the company's top five customers were located in Malaysia, Mainland China, Hong Kong, Switzerland, Singapore, and South Korea. In terms of finances, the company's revenue was approximately $173 million, $467 million, $678 million, and $423 million in the fiscal years 2021, 2022, 2023, and the first half of 2024, respectively. During the same periods, the company's annual profits were approximately $39.71 million, $96.09 million, $174 million, and $159 million. According to Shandong Nanshan Aluminium International as described in the prospectus, the company operates in a competitive alumina production industry facing fierce competition from local and international manufacturers. According to Frost & Sullivan data, this industry is relatively concentrated, with the top three producers in Southeast Asia holding approximately 94.6% market share. Furthermore, industry mergers and acquisitions could lead to resources being concentrated in the hands of a few competitors, posing further challenges to the company's position. Additionally, as competitors, suppliers, and customers expand their influence in the industry value chain, competition may intensify. Technological advancements by competitors and new production lines may directly affect the demand and pricing of the company's alumina products.