CSRC approves Ma'anshan Mining Stock Exchange's Main board IPO registration.

On July 2, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering of Shares of Fujian Makeng Mining Co., Ltd." It is reported that Makeng Mining Co., Ltd. plans to list on the main board of the Shanghai Stock Exchange, with CITIC SEC as its sponsor institution, aiming to raise 1 billion yuan. The prospectus shows that Makeng Mining Co., Ltd. is an enterprise engaged in the long-term development and comprehensive utilization of iron ore resources, mainly specializing in the selection and comprehensive utilization of iron ore, sales of iron powder and molybdenum concentrates, limestone mining, and sales of limestone, with main products being iron powder, molybdenum concentrates, and limestone. As of the end of 2024, the iron ore reserve of Makeng Iron Mine was 330.39 million tons, accompanied by 44.3 thousand tons of molybdenum ore (measured in metal content), and 31.179 million tons of limestone for cement use. The company has become a large-scale iron ore selection enterprise in China, ranking 21st in the Top 50 Chinese metallurgical and mining enterprises in 2024. In terms of financials, in the fiscal years of 2022, 2023, 2024, and January-June 2025, Makeng Mining Co., Ltd. achieved operating income of approximately 2.057 billion yuan, 1.962 billion yuan, 2.050 billion yuan, and 1.045 billion yuan respectively; during the same period, net profits were 659 million yuan, 651 million yuan, 664 million yuan, and 362 million yuan respectively.