Jiangsu Hai'an Rubber has submitted its IPO registration to the Shenzhen Stock Exchange, with major clients including Zijin Mining Group (601899.SH) and others.

On August 18th, Haian Rubber Group Co., Ltd. (referred to as Haian Rubber) applied for the status of IPO review on the main board of the Shenzhen Stock Exchange to be changed to "submitted for registration". Guotai Haitong is its sponsor institution, planning to raise 2.95232 billion yuan. The prospectus shows that Haian Rubber's main business includes the research, development, production, and sales of giant all-steel engineering machinery radial tires, as well as the operation and management of mining tires. Giant all-steel engineering machinery radial tires are a highly characteristic high-end product in engineering machinery tires, with massive volume and weight (the largest tire outer diameter exceeds 4 meters, with a maximum weight close to 6 tons), harsh working conditions, and long continuous working hours. Therefore, the production technology of all-steel giant tires is difficult, and currently only a few tire manufacturing companies can achieve large-scale production. During the reporting period, the company's main customers include Zijin Mining Group Co., Ltd., Ural Mining and Metallurgical Company, ABSOLUTE LTD, XCMG Group Co., Ltd., Qingdao Taikaiying Special Tire Co., Ltd., Ansteel Group Co., Ltd., JSC "Stroyservis", LLC New Mining Management Company, Greensong Supply Chain Management (Hainan) Co., Ltd., etc. Financially, in the 2022, 2023, and 2024 fiscal years, Haian Rubber achieved operating income of approximately RMB 1.508 billion, 2.251 billion, and 2.300 billion respectively; during the same period, the company achieved net profits of approximately RMB 354 million, 654 million, and 679 million respectively.