New stock news | Jin Yan High-Tech submitted an application to the Hong Kong Stock Exchange as China's largest producer of high-quality casting-grade magnesite materials.

According to the disclosure by the Hong Kong Stock Exchange on January 3, Anhui Jinyan Kaolin New Materials Co., Ltd. (referred to as Jinyan High-tech) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with Guoyuan International as the sole sponsor. The prospectus shows that Jinyan High-tech is a leading company in the Chinese coal-based kaolin industry, with integrated capabilities spanning mining, research and development, processing, production, and sales along the full value chain. As a major producer of calcined kaolin products in China, the company's business relies on rich and high-quality coal-based kaolin mineral resources. The company's products mainly include fine casting mullite materials and refractory mullite materials, which are important materials for precision casting molds and refractory materials. The company also sells coke powder, which customers can further process. For the fiscal years 2022 and 2023, as well as the nine months ended September 30, 2023 and 2024, the company produced 117.9 thousand tons, 114.5 thousand tons, 84.4 thousand tons, and 91.8 thousand tons of fine casting mullite materials, and 5.2 thousand tons, 19.8 thousand tons, 9.8 thousand tons, and 18.1 thousand tons of refractory mullite materials. According to data provided by Frost & Sullivan, based on revenue in 2023, the company is the largest producer of fine casting mullite materials in China, with a market share of 17.9%. According to the same data source, the expected market size of fine casting mullite materials in China will increase from approximately 986 million RMB in 2024 to 1.363 billion RMB in 2028, with a compound annual growth rate of 8.4%, and the expected market size of refractory mullite materials in China will increase from 5.524 billion RMB in 2024 to 6.766 billion RMB in 2028, with a compound annual growth rate of 5.2%. Financially, for the fiscal years 2022, 2023, and 2023, as well as the nine months ended September 30, 2024, Jinyan High-tech achieved revenues of approximately 190 million RMB, 205 million RMB, 135 million RMB, and 183 million RMB, respectively. The net profit and comprehensive income for each period totaled 24.423 million RMB, 43.617 million RMB, 21.55 million RMB, and 33.506 million RMB.