Yangguang Group's Shanghai Stock Exchange Main Board IPO "terminated," main products are coke and carbon black.

On August 10, the IPO review status of Shanxi Sunshine Coke Group Co., Ltd. (hereinafter referred to as Sunshine Group) on the Shanghai Stock Exchange main board was changed to "terminated." This was due to Sunshine Group and its sponsor withdrawing the application for issuance and listing. According to Article 63 of the Shanghai Stock Exchange's Rules for the Review of Stock Issuance and Listing, the exchange has terminated its review of the issuance and listing. The prospectus shows that Sunshine Group is a circular economy enterprise group that integrates businesses such as raw coal washing and selection, coking, coal tar processing, and fine chemicals. The company continues to extend downstream based on the coking industry, gradually forming two major business segments: coal chemistry and fine chemicals, while creating a circular economy industrial chain with its own distinctive features. Coke and carbon black products are the main sources of revenue for the company. During the reporting period, the percentage of the companys coke products in the main business revenue was 68.38%, 64.60%, and 63.64%, respectively; the percentage of carbon black products was 16.36%, 18.32%, and 17.99%, respectively. The production capacity and output of the companys main products, coke and carbon black, both have scale advantages. By the end of 2025, the company's coke production capacity will reach 5.09 million tons, and the carbon black production capacity will be 385,000 tons. In terms of finance, for the fiscal years 2023, 2024, and 2025, the company is expected to achieve operating revenues of approximately 18.194 billion, 15.83 billion, and 12.464 billion RMB, respectively; during the same periods, the net profits are expected to be 676 million, 381 million, and 403 million RMB, respectively.