New stock news | Jinyan High-tech has submitted another application to the Hong Kong Stock Exchange as the largest producer of high-quality refractory materials in China.

According to the disclosure by the Hong Kong Stock Exchange on July 25th, Anhui Jinyan Kaolin New Material Co., Ltd. (referred to as Jinyan Gaoxin) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Guoyuan International and CMBC CAPITAL as joint sponsors. The company had submitted its application to the Hong Kong Stock Exchange on January 3, 2025. The prospectus shows that Jinyan Gaoxin specializes in coal-based kaolin in China and has integrated capabilities across the entire value chain from mining, research and development, processing, production, to sales. As a leading producer of calcined kaolin products in China, the company's business relies on rich and high-quality coal-based kaolin mineral resources. The company's main products include fine casting refractory materials and refractory materials, which are important materials for precision casting shells and refractories. The company also sells raw coke and raw powder, which can be further processed by customers. With a vertically integrated business model and product quality advantages, Jinyan Gaoxin has established a strong market position. According to data provided by Frost & Sullivan, based on revenue in 2024, the company is the largest producer of fine casting refractory materials in China with a market share of 19.1%. According to the same data source, the market size of fine casting refractory materials in China is expected to increase from approximately 972 million yuan in 2024 to 1.362 billion yuan in 2029, with a compound annual growth rate of 7.0%. The market size of refractory materials in China is also expected to increase from 5.526 billion yuan in 2024 to 6.431 billion yuan in 2029, with a compound annual growth rate of 3.1%. Jinyan Gaoxin's products meet the critical needs of multiple industries. Fine casting refractory materials are mainly used in the production of precision casting shells in industries such as automotive, aviation, medical, and general machinery. Refractory materials are mainly used in the production of refractory materials for industries such as metallurgy and building materials. In terms of finance, in the fiscal years 2022, 2023, 2024, and in the five months ended May 31, 2025, Jinyan Gaoxin achieved revenues of approximately 190 million yuan, 205 million yuan, 267 million yuan, 88.289 million yuan, and 105 million yuan respectively. The net profit and comprehensive income for the respective periods were 24.423 million yuan, 43.617 million yuan, 52.602 million yuan, 14.47 million yuan, and 18.032 million yuan.