New Stock News | ReLink Group submits application to Hong Kong Exchange, becoming China's fifth largest provider and trader of bulk commodity services.

According to the disclosure by the Hong Kong Stock Exchange on February 9th, Hangzhou ReLian Group Co., Ltd. (referred to as ReLian Group) has submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with CICC as its exclusive sponsor. Company Profile The prospectus reveals that ReLian Group is a leading domestic global commodity industry service provider and trader. The company procures and sells over 285 types of physical commodities, including ferrous metals and raw materials, chemicals, non-ferrous metals, and other categories. According to Frost & Sullivan data, based on trade volume in 2024, the company is the fifth largest global commodity industry service provider and trader in China; the fourth largest in the steel industry, and the second largest in steel exports. It is also the third largest in the iron ore industry and in the rubber industry. The company has established a global business footprint. As of January 30, 2026, the company has subsidiaries and offices in 14 countries and regions, and has conducted trade activities in over 80 countries and regions during the reporting period. The company's clients mainly include industrial manufacturers, construction companies, and trading companies. In 2023, 2024, and the ten months ending on October 31, 2025, the top five clients accounted for 8.3%, 8.6%, and 9.2% of the total revenue respectively. Industry research has always been at the core of the company's business system. The research team conducts systematic research around macroeconomic cycles and changes in supply and demand patterns, translating them into actionable market insights. The company's service capabilities covering the entire trade process further demonstrate its competitive advantage. Financial Information Revenue In 2023, 2024, and the ten months ending on October 31, 2025, ReLian Group's revenue was approximately RMB 252.132 billion, RMB 270.63 billion, and RMB 230.273 billion respectively. Profit In 2023, 2024, and the ten months ending on October 31, 2025, ReLian Group's annual/period profit was approximately RMB 1.032 billion, RMB 1.431 billion, and RMB 1.172 billion respectively. Industry Overview Commodities refer to mass material goods that can enter circulation but are not in the retail sector. They are used in large quantities for industrial and agricultural production and consumption. They mainly include ferrous metals and raw materials, chemicals, non-ferrous metals, and other categories. Chinese Commodity Market Analysis Steel is one of the main products in the commodity market. As the manufacturing industry upgrades and traditional industry equipment is renewed, as well as the growth in demand for new energy vehicles, wind power, and photovoltaic industries, China's steel output will continue to grow in the future. Iron ore and its concentrates are one of the main raw materials for steel production. The transformation and upgrading of manufacturing industries have driven the continuous growth of China's iron ore and concentrate imports. Crude oil is one of the main products in the commodity market. Crude oil supports important industries such as engineering plastics, synthetic fibers, and fertilizers, and the continuous development of these downstream industries is a key factor driving the increase in China's crude oil imports. Due to the cooling demand from downstream industries and reduced overseas supply, there was a slight fluctuation in China's rubber imports from 2020 to 2024. Looking ahead, the development of the new energy vehicle industry is expected to drive the demand for high-performance tires, and it is expected that China's rubber imports will continue to rise. Commodity industry services refer to providing logistics, warehousing, distribution, and other supporting services related to commodity trading for clients. Commodity trading refers to identifying market opportunities due to factors such as time mismatch or supply-demand imbalances through industry research and market analysis, conducting commodity trading to achieve profitability. Due to the high fluctuations in commodity prices, as well as other factors such as geopolitics, digital transformation, and iterative service models, China's commodity industry service and trading industry face opportunities and challenges, with a market size showing relatively slow and steady growth. In the current fiercely competitive market, the company, with its deep research capabilities and mastery of the commercial trade flow, deeply participates in various aspects of the supply chain, making it one of the leading companies in the industry. Board of Directors Information The company's board of directors consists of 9 directors, including 1 executive director, 5 non-executive directors, and 3 independent non-executive directors. Equity Structure As of January 31, 2026, Hangshi Group and Zhejiang Lianyu collectively owned approximately 95.70% of the total issued share capital, and they signed a joint action agreement on February 6, 2026, making them the controlling shareholders of the company. Intermediary Team Exclusive sponsor: China International Finance Hong Kong Securities Limited Company legal advisor: Hong Kong law and U.S. law: Puhua Law Firm (Hong Kong) Limited Liability Partnership; Chinese law: Tongshang Law Firm Legal advisor for the exclusive sponsor: Hong Kong law and U.S. law: Dechert LLP; Chinese law: Tonglai Law Firm Auditors and reporting accountants: Ernst & Young Industry consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance consultant: Hongri Capital Limited