New Stock News | Hongji Chuangneng Submitted to Hong Kong Stock Exchange The company has developed and is currently using six independently developed core proprietary technologies.

On June 27th, Hongji Chuangneng Technology submitted its application to the Hong Kong Stock Exchange, with HAITONG INT'L and CITIC SEC serving as joint sponsors. According to the prospectus, the company describes itself as a leading global independent membrane electrode supplier, specializing in the research, production, and commercialization of catalyst-coated proton exchange membranes (CCM) and membrane electrodes (MEA). According to Zochi Consulting data, based on membrane electrode sales, Hongji Chuangneng is the largest independent membrane electrode supplier in China and the second largest in the world by 2024. Hongji Chuangneng is committed to transforming laboratory-scale technological advancements into commercialization and full-scale production capacity for catalyst-coated proton exchange membranes and membrane electrodes for hydrogen fuel cells. The company aims to provide customers with low-cost, high-performance products and solutions, while promoting improved performance and large-scale commercialization of catalyst-coated proton exchange membranes and membrane electrodes for electrolyzers. The company has developed and currently employs six core proprietary technologies. The company has served over 130 customers, with a retention rate of over 70% for the top ten customers. Its clients include well-known fuel cell companies and key players in the hydrogen energy industry in Asia, North America, Europe, and Australia. For the fiscal years ending December 31, 2022, 2023, and 2024, the company's revenue was approximately RMB 249 million, RMB 167 million, and RMB 263 million respectively. For the fiscal years ending December 31, 2022, 2023, and 2024, the company's annual losses were approximately RMB 42.52 million, RMB 132 million, and RMB 132 million respectively.