New Stock News | Zhejiang Rongtai Electric Material (603119.SH) has submitted an application to the Hong Kong Stock Exchange again. It ranks first in the global mica products market and in the Shanxi Guoxin Energy Corporation sector.

According to the Hong Kong Stock Exchange disclosure on August 24, Zhejiang Rongtai Electric Material Co., Ltd. (abbreviated as: Zhejiang Rongtai Electric Material, 603119.SH) submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC SEC as its exclusive sponsor. Company Profile According to the prospectus, Zhejiang Rongtai Electric Material is a pioneer and leader in global new energy mica composite materials and related products, known for its technological innovation and industry expertise. According to Frost & Sullivan data, the market size for mica products in the global and Shanxi Guoxin Energy Corporation sectors is projected to reach RMB 4.7 billion and RMB 3.9 billion by 2025, respectively. In the global and Shanxi Guoxin Energy Corporation mica products market, Zhejiang Rongtai Electric Material ranks first in revenue for 2025, holding market shares of 22.7% and 12.7%, respectively. The mica composite materials and related products from Zhejiang Rongtai Electric Material aim to provide thermal protection, flame-retardant insulation, and electrical safety, primarily applied in new energy vehicles, household appliances, and fire-resistant cable applications. Leveraging its cross-disciplinary expertise in precision processing technology and close alignment with customer needs, Zhejiang Rongtai Electric Material has successfully expanded its business from the mica product sector into key precision components for Siasun Robot & Automation. Zhejiang Rongtai Electric Material continuously strengthens its lean manufacturing, striving for excellence in quality to ensure timely and high-quality product delivery, while also providing comprehensive support services, thereby deepening long-term and stable partnerships with leading global customers. Internationally, Zhejiang Rongtai Electric Material has established a deep processing base in Vietnam and a production base in Thailand (currently undergoing trial production as of the latest feasible date). Zhejiang Rongtai Electric Material also plans to further expand production capacity at its Thailand base to enhance its global footprint and improve overseas manufacturing and delivery capabilities. As of the latest feasible date, Zhejiang Rongtai Electric Materials products are sold in over 40 countries and regions worldwide. During the performance record period, Zhejiang Rongtai Electric Material's revenue mainly came from the sales of mica composite materials and related products, including safety components for new energy vehicles, flame-retardant insulation components for household appliances, and flame-retardant insulation tapes for cables. Following the acquisition of Diz Precision in June 2025, Zhejiang Rongtai Electric Material's product portfolio expanded to include precision components, generating revenue from the sale of precision components primarily utilized in Siasun Robot & Automation and advanced automation sectors. Financial Information Revenue For the six months ending June 30 in 2023, 2024, 2025, and 2026, the company achieved revenues of approximately RMB 800 million, RMB 1.135 billion, RMB 1.376 billion, and RMB 898 million, respectively. Profit for the Year/Period For the six months ending June 30 in 2023, 2024, 2025, and 2026, the company recorded profits of approximately RMB 172 million, RMB 230 million, RMB 283 million, and RMB 156 million, respectively. Gross Profit For the six months ending June 30 in 2023, 2024, 2025, and 2026, the company recorded gross profits of approximately RMB 282 million, RMB 363 million, RMB 455 million, and RMB 305 million, respectively. Industry Overview Mica products refer to functional products primarily made from mica materials, processed into sheets, strips, or boards using high-temperature adhesives. These materials possess stable electrical insulation properties and high flame-retardant heat resistance, capable of maintaining reliable performance under high temperatures. They are widely applied in electrical, mechanical, and industrial environments, including new energy (mainly comprising new energy vehicles, power batteries, energy storage batteries, etc.), cables, and household appliances. The application scenarios for mica products mainly encompass industries such as industrial metallurgy, new energy, cables, household appliances, as well as transportation, nuclear power plants, and aerospace among others. By 2025, the market size for global mica products is projected to reach RMB 23.5 billion, while the market sizes for mica products in the global industrial metallurgy industry, new energy industry, cable industry, household appliance industry, and other industries are estimated to be RMB 6.4 billion, RMB 4.7 billion, RMB 2.1 billion, RMB 1 billion, and RMB 9.3 billion, respectively. By 2025, the market size for mica products in China is projected to reach RMB 9.3 billion, with the respective market sizes for mica products in China's industrial metallurgy industry, new energy industry, cable industry, household appliance industry, and other industries reaching RMB 1.6 billion, RMB 3.9 billion, RMB 800 million, RMB 600 million, and RMB 2.4 billion. Board of Directors Information The board of directors will consist of nine members, including two executive directors, three non-executive directors, and four independent non-executive directors. The term of office for directors is three years, and they can be re-elected upon term expiration. According to relevant laws and regulations in China, independent non-executive directors may not serve more than six consecutive years. Shareholding Structure As of the latest feasible date, Mr. Ge Tairong and Ms. Cao Meisheng collectively hold approximately 38.38% of the issued share capital of the company, including (i) approximately 32.52% direct interest held by Mr. Ge Tairong; (ii) approximately 4.48% direct interest held by Ms. Cao Meisheng; (iii) approximately 0.76% indirect interest held by Shanghai Chaotai (a limited partnership in which Ms. Cao Meisheng holds 33.07% as a general partner); and (iv) approximately 0.62% indirect interest held by Shanghai Congjiong (a limited partnership in which Ms. Cao Meisheng holds 7.34% as a general partner). Mr. Ge Tairong and Ms. Cao Meisheng are husband and wife. Mr. Ge Tairong and Ms. Cao Meisheng together control more than 30% of the voting rights at the companys shareholder meeting. Therefore, Mr. Ge Tairong, Ms. Cao Meisheng, Shanghai Chaotai, and Shanghai Congjiong will jointly form a group of controlling shareholders. Intermediary Team Exclusive Sponsor: CITIC SEC (Hong Kong) Limited Company Legal Advisors: Gowling WLG, Shanghai Guangfa Law Firm, King & Wood Mallesons Exclusive Sponsor Legal Advisors: Jingtian Gongcheng Law Firm Limited Liability Partnership, Jingtian Gongcheng Law Firm Auditors and Reporting Accountants: Zhonghui Anda Accounting Firm Limited Compliance Advisor: SOMERLEY CAPITAL Limited Industry Advisor: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch