Zhong Wei New Materials (02579) will be listed from November 7th to November 12th, and is expected to go public on November 17th.

China Great New Materials (02579) will be listed from November 7 to November 12, 2025, and the company plans to globally issue 104 million shares, with 10% of the shares available for sale in Hong Kong and 90% available for international sale, with an additional 15% oversubscription option. The price range for the shares is HK$34-37.8, with trading expected to begin on the Hong Kong Stock Exchange on November 17, 2025. The company is a new energy materials company, mainly engaged in the research, development, production, and sales of new energy battery materials using positive electrode active material precursors (pCAM) as the core, as well as new energy metal products. The company is a global leader in nickel-based and cobalt-based positive electrode active material precursors (pCAM) for lithium-ion batteries, ranking first in sales volume for five consecutive years since 2020. In 2024, the market share for nickel-based pCAM and cobalt-based pCAM was 20.3% and 28.0% respectively. The company also ranked first globally in terms of the sales value of all pCAM products in 2024, with a market share of 21.8%. The company's new energy battery materials are vital for lithium-ion batteries used in electric vehicles, energy storage systems, consumer electronics, and applications with higher power demands and strong commercial potential (such as supporting AI consumer electronics devices, humanoid Siasun Robot&Automation, and drones). Starting from the research and development of new energy battery materials, the company has established an integrated operation from upstream new energy metal mining, smelting, and refining to the production and recycling of new energy materials. The company's integrated supply chain enables the sales of new energy metal products (mainly including nickel intermediates and electrolytic nickel) and several by-products of the nickel extraction process (such as cobalt and copper). The company has established a global presence in terms of customer base, supply chain, and production facilities, driving its future development. By production volume, the company ranked sixth in the global nickel product market in 2024, with a market share of 3.7%. With its technological expertise and global vertically integrated operations, the company has achieved a leading position in the new energy battery materials industry. The company has entered into cornerstone investment agreements with various parties, agreeing to subscribe or direct designated entities to subscribe for a total of approximately US$214 million worth of shares at the offer price (nearest to a full trading unit of 200 H shares per hand) assuming an offer price of HK$35.90 per H share (i.e., the midpoint of the offer price range in this prospectus). Assuming an offer price of HK$35.90 per H share (i.e., the midpoint of the offer price range in this prospectus), the company estimates that after deducting underwriting commissions and other estimated expenses related to the global offering, it will receive net proceeds of approximately HK$3.628 billion from the global offering (assuming the oversubscription option is not exercised). Approximately 50.0% will be used to expand production and supply chain capabilities, approximately 40.0% will be used for research and digitization of new energy battery materials, and approximately 10.0% will be used for working capital and other general corporate purposes.