New Stock News | Nalco New Materials Filed for Listing on the Hong Kong Stock Exchange, Focusing on the Research and Development of Advanced Functional Integrated Fluids.

According to the disclosure on May 28th by the Hong Kong Stock Exchange, Yangzhou Nali New Material Technology Co., Ltd. (Nali New Material) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with BNP PARIBAS as its exclusive sponsor. Company Profile The prospectus shows that Nali New Material is a global leading new energy material company focusing on the research and manufacturing of advanced functional integrated fluids, providing advanced functional integrated fluid products and technical solutions for battery manufacturers and electric vehicle manufacturers. As the lithium-ion battery industry enters the "Wh era", downstream market participants are increasingly demanding strict technical specifications and performance indicators in terms of safety, energy density, cycle life, cost, and charging speed. In response to these requirements, the company develops and supplies advanced functional integrated fluids to improve safety and energy density, reduce costs, and minimize natural resource and energy consumption. Nali New Material has established comprehensive technological and engineering manufacturing capabilities, supported by independently developed advanced technologies, proprietary innovative production processes, core equipment jointly developed and designed with strategic suppliers, and fully validated production capabilities. These capabilities allow the company to continuously deliver high-quality products, support rapid capacity expansion, and maintain strict quality standards required by the new energy material industry. Nali New Material has successfully expanded the research breakthroughs of advanced functional integrated fluids into production capacities that can be widely used in high-performance lithium-ion batteries and next-generation solid-liquid batteries. The company's products and technologies contribute to the global transition to green energy and a low-carbon future. According to data from Frost & Sullivan, based on the shipment volume in 2025, Nali New Material ranks third among global manufacturers of functional interfacial integrated fluids. As of December 31, 2025, the company ranks first among global composite integrated fluid manufacturers, with an annual capacity of 62.9 million square meters of atomic deposition integrated fluid, a special composite integrated fluid treated through atomic deposition to enhance safety performance, increase energy density, and reduce costs. Financial Information Revenue In 2023, 2024, and 2025, the company recorded revenues of RMB 21.946 million, RMB 2.58 billion, and RMB 5.79 billion respectively. Annual/Periodic Loss In 2023, 2024, and 2025, the company recorded comprehensive annual losses attributable to owners of approximately RMB 210 million, RMB 243 million, and RMB 337 million respectively. Industry Overview Driven by the increasing demand for improving interface stability and enhancing fast-charging capabilities, as well as market demands in electric vehicles, energy storage, consumer batteries, and other emerging fields, advanced functional integrated fluids are rapidly being applied in next-generation lithium-ion batteries. Global consumption is expected to increase from 1.332 billion square meters in 2021 to 9.2878 billion square meters in 2025, and is projected to reach 60.666 billion square meters by 2031, with a compound annual growth rate of 34.4% from 2026 to 2031. Driven by the increasing demand for enhancing safety performance, increasing energy density, and reducing the overall weight of batteries, global consumption of composite integrated fluids is expected to increase from 105.6 million square meters in 2026 to 14.2895 billion square meters in 2031, with a compound annual growth rate of 166.9% from 2026 to 2031. Among them, copper composite integrated fluid is expected to reach 8.0293 billion square meters by 2031, accounting for the cost-effective advantage. Aluminum composite integrated fluid is expected to reach 6.2602 billion square meters by 2031, mainly due to safety requirements and performance improvements. The penetration rate of copper composite integrated fluid was 0.02% in 2025 and is expected to reach 8.5% by 2031, while the penetration rate of aluminum composite integrated fluid was 0.1% in 2025 and is expected to reach 6.6% by 2031. In terms of end-use application areas, driven by the increasing demand from electric vehicles for high energy density, high safety, and lightweight design, global consumption of composite integrated fluids in the automotive power battery field is expected to reach 7.6597 billion square meters by 2031. With the continuous expansion of large-scale energy storage system deployments and the demand for cost reductions, global consumption of composite integrated fluids in the energy storage battery field is expected to reach 5.73 billion square meters by 2031. Driven by the continuous growth demand from portable electronic products for thinner, safer, lighter, and more efficient power sources, the global consumption of composite integrated fluids in the consumer battery field is expected to increase to 899.8 million square meters by 2031. Board of Directors Information The company's board of directors consists of nine directors, including two executive directors, four non-executive directors, and three independent non-executive directors. Equity Structure As of May 18, 2026, Mr. Zhang indirectly owns approximately 24.64% of the company's issued share capital through Jiangyin Ruiyuanda (22.00%) and Yangzhou Nayuan (2.64%). Intermediary Team Exclusive Sponsor: BNP Paribas Securities (Asia) Limited. Company Legal Advisor: Legal advice on Hong Kong and U.S. laws: Gallant Y.T. Ho & Co.; Advice on Chinese law: Tian Yuan Law Firm. Legal Advisor to the Exclusive Sponsor: Legal advice on Hong Kong and U.S. laws: Stephenson Harwood; Advice on Chinese law: JunHe LLP. Reporting Accountant and Independent Auditor: Ernst & Young. Industry Consultant: Frost & Sullivan. Compliance Consultant: Mai Capital Limited.