CSRC approves Shenglong Stock's IPO registration on the Shenzhen Stock Exchange main board.

On January 9th, the China Securities Regulatory Commission issued the "Approval of the Initial Public Offering of Shares of Luoyang Shenglong Mining Group Co., Ltd." It is reported that Shenglong shares plan to be listed on the main board of the Shenzhen Stock Exchange, with Guotou Securities as its sponsoring institution, planning to raise 1.53 billion yuan. The prospectus shows that Shenglong shares is a large domestic molybdenum company, dedicated to the comprehensive development and utilization of non-ferrous metal mineral resources. During the reporting period, it mainly engaged in the production, processing, and sales of important strategic resources related to molybdenum products, with main products being molybdenum concentrate and molybdenum iron. By the end of 2024, the company's reserves of molybdenum metal and molybdenum metal production in 2024 both accounted for more than 9% of the domestic market. According to data from the United States Geological Survey (USGS), in 2024, China's molybdenum metal production was about 110,000 tons, with the company's molybdenum metal production in 2024 being 10,600 tons, accounting for 9.64% of China's molybdenum metal production, making it one of China's important molybdenum suppliers.