New stock news | Guangzhou Tinci Materials Technology (002709.SZ) again files for listing on the Hong Kong Stock Exchange, electrolyte shipment volume ranks first globally for 9 consecutive years.

According to the disclosure on March 27 by the Hong Kong Stock Exchange, Guangzhou Tinci Materials Technology Co., Ltd. (002709.SZ) has once again submitted its listing application to the main board of the Hong Kong Stock Exchange, with J.P. Morgan, CITIC SEC, and GF SEC as its joint sponsors. Company Overview According to the prospectus, the company is a globally leading new energy and advanced materials company, driven by technological innovation, focusing on providing comprehensive solutions of lithium-ion battery materials, daily chemical materials, and specialty chemicals to global corporate customers. The founder and chairman of the company, Mr. Xu Jinfu, has been deeply involved in the fine chemical industry for over 35 years, with successful entrepreneurial experience and outstanding management capabilities. 25 years ago, Mr. Xu founded Guangzhou Tinci Materials Technology, and his profound understanding of chemistry and materials science, as well as industry insights, continue to lead the development and success of the company. Under his leadership, the company's business expansion has extended far beyond the daily chemical materials field and entered the field of lithium-ion battery materials. The company is a leader in the global electrolyte field, standing out with its vertical integration capability and innovative technologies, integrating the complete value chain of key raw materials for electrolytes production, including LiPF6, LiFSI, additives, and lithium carbonate. Leveraging the company's R&D platform, engineering advantages, and cross-selling capabilities based on long-term customer cooperation, the company has successfully expanded its business to the field of cathode materials (including iron phosphate and lithium iron phosphate) and adhesives for lithium batteries (including PACK structural adhesives and binders), forming a comprehensive solution for lithium-ion battery materials. The company has also strategically positioned itself to be widely used in emerging areas such as intelligent driving, eVTOL, semiconductors, advanced engineering, and AI thermal management with advanced materials. The company's next-generation products include solid-state electrolytes, automotive electronics and semiconductor-specific adhesives and sealants, high-performance polymers (primarily PEEK and PI), high-efficiency cooling agents, and flame retardant materials, among others. With the integrated R&D platform and advanced engineering capabilities of the company, it has established an efficient production model and strong product capabilities, leading to a globally leading position in the fields of lithium-ion battery and daily chemical materials. The following figure outlines the core achievements and performance that support the company's industry leadership: The company has a wide range of customers, including leading battery manufacturers, automakers, and multinational consumer brands around the world. In terms of lithium-ion battery materials, the company has signed strategic cooperation agreements with global leading battery manufacturers and automotive companies. Eight of the top ten global power battery manufacturers in 2024, all of the top ten global energy storage battery manufacturers, and nine of the top ten global consumer battery manufacturers are customers of the company or use the company's products in their supply chains. In the field of daily chemical materials and specialty chemicals, the company is one of the early companies in the personal care industry in China to promote international business. After more than a decade in the construction of an international R&D innovation system, quality assurance framework, EHS system, and other international standards, the company's related modular capabilities have steadily improved, forming effective international competitiveness. The company has deeply penetrated the supply chains of many multinational consumer product leading enterprises and served nine of the top ten global personal care product manufacturers in 2024. As of December 31, 2025, the company's production base has an annual production capacity of approximately 1,341,000 tons of lithium-ion battery materials, daily chemical materials, and specialty chemicals. Financial Information Revenue In 2023, 2024, and 2025, the company's revenue was approximately RMB 15.405 billion, RMB 12.518 billion, and RMB 16.65 billion, respectively. Profit In 2023, 2024, and 2025, the company's annual profit was approximately RMB 1.842 billion, RMB 478 million, and RMB 1.344 billion, respectively. Gross Profit Margin In 2023, 2024, and 2025, the company's gross profit margin was 25.9%, 18.9%, and 22.2%, respectively. Industry Overview With the accelerated electrification of global transportation, the continuous expansion of new energy storage system applications, and the widespread popularity of consumer electronic devices, the demand for high-performance lithium-ion batteries is experiencing explosive growth in the market. According to data provided by Zhushi Consultation, the global lithium-ion battery market is forecasted to continue growing at a compound annual growth rate of 24.7% from 2024 to 2030, reaching 5,448.0 GWh in 2030. In addition, other new energy battery materials with cost-effectiveness and performance improvement potential (such as sodium-ion batteries) can be used in different regions, terminal applications, and further stimulate new end-user demand. Lithium-ion battery materials are expected to benefit from market growth. According to data provided by Zhushi Consultation, the global electrolyte, LiPF6, and LiFSI markets are expected to grow at compound annual growth rates of 23.2%, 20.1%, and 42.7%, respectively, from 2024 to 2030. The global market for cathode materials, including iron phosphate, lithium iron phosphate, and lithium battery adhesives, is expected to grow at compound annual growth rates of 24.9%, 24.9%, and 24.2% during the same period. As for lithium battery recycling, the global lithium battery recycling market is forecasted to grow at a compound annual growth rate of 35.9% from 2024 to 2030. With the strong demand supported by the necessity of high-frequency consumer goods, daily chemical products continue to grow steadily due to the dual drivers of population growth and consumption upgrades. Besides existing personal care and home care products, the company strategically entered the fragrance and flavor business utilizing its existing daily chemical platform advantage. According to data provided by Zhushi Consultation, the global market size of daily chemical materials and fragrance and flavor is expected to reach approximately RMB 800 billion and RMB 300 billion, respectively, by 2030. Continuous technological advancements are driving the electrification of industries such as ships and eVTOL, while intelligent applications like Siasun Robot & Automation and artificial intelligence development are creating high-potential end markets for advanced materials. The global market size of solid-state batteries is forecasted to reach 65 GWh in 2030 and exceed 1,000 GWh in 2040. Based on the company's long-term research and development achievements in daily chemical and new energy materials, it has begun to layout in emerging fields such as intelligent driving, eVTOL, semiconductors, advanced engineering, and AI thermal management to ensure timely capture of potential markets. According to data provided by Zhushi Consultation, the market sizes of solid-state electrolytes, automotive electronics, semiconductor-specific adhesives and sealants, PEEK and PI, cooling agents, and flame retardant materials are expected to reach approximately RMB 100 billion, RMB 200 billion, RMB 100 billion, and RMB 200 billion, respectively, by 2040. Board Information After listing, the company's board of directors will consist of nine directors, including five executive directors and four independent non-executive directors. The term of office for directors is three years and they may be re-elected upon the expiration of their term. According to relevant Chinese laws and regulations, the term of office for independent non-executive directors shall not exceed six consecutive years. There is no relationship between the company's directors and other directors or senior management. Ownership Structure As of the last practicable date (March 18, 2026), Mr. Xu directly owns approximately 34.35% of the company's shares. Mr. Xu will remain the controlling shareholder of the company after listing. Intermediary Team Joint Sponsors: J.P. Morgan Securities (Far East) Limited, CITIC SEC (Hong Kong) Limited, GF Securities (Hong Kong) Limited; Legal Advisers: Allen & Overy LLP, Beijing Guofeng Law Firm; Joint Sponsors and Compilers Legal Advisers: Akin Gump Strauss Hauer & Feld LLP, Jing Tian Gong Cheng Law Firm; Auditors and Reporting Accountants: PricewaterhouseCoopers Hong Kong Limited; Industry Consultant: Zhushi Industry Consulting Co., Ltd.; Compliance Adviser: SOMERLEY CAP Limited.