Ma'anshan Mining Co., Ltd's application for an IPO on the Shanghai Stock Exchange main board has been accepted, with plans to raise 1 billion yuan.

On December 4th, the initial public offering (IPO) of Fujian Makeng Mining Co., Ltd. (referred to as Makeng Mining) on the Shanghai Stock Exchange has been accepted. CITIC SEC is the sponsor institution, with plans to raise 1 billion yuan. According to the prospectus, Makeng Mining is a company that specializes in the development and comprehensive utilization of iron ore resources, focusing on the extraction and utilization of iron ore, sales of iron ore concentrate, molybdenum concentrate, and limestone. The company owns the well-known Makeng iron ore mining rights in the country. As of the end of 2024, the iron ore reserves of the Makeng iron ore deposit are 330.39 million tons, with 4.43 million tons of associated molybdenum (metallic content) and 31.179 million tons of limestone. With rich resource advantages, advanced mining technology, and a location close to steel enterprises, the company has become one of the largest iron ore extraction enterprises in China, ranking 21st among China's top 50 metallurgical mining enterprises in 2024. According to statistics from the China Metallurgical Mining Enterprises Association, the company's iron ore concentrate production in 2024 ranks in the top five among key independent iron ore mines in China. According to data from "MySteel", the company's raw iron ore production in 2023 accounted for over 10% of the iron ore production in China's southeast coastal region. The funds raised from the IPO will be invested in the following projects after deducting the issuance expenses: Financially, Makeng Mining achieved operating revenues of approximately 2.057 billion yuan, 1.962 billion yuan, 2.05 billion yuan, and 1.045 billion yuan in 2022, 2023, 2024, and January-June 2025 respectively. During the same period, the net profits were 659 million yuan, 651 million yuan, 664 million yuan, and 362 million yuan respectively.