New stock news | Huachuang Materials submitted to the Hong Kong Stock Exchange to deepen the research and development, production, and sales of high-performance electrolytic copper foil products.

According to the Hong Kong Stock Exchange's disclosure on June 11, Anhui Huachun New Materials Co., Ltd. (referred to as "Huachun New Materials") has submitted an application to the Hong Kong Stock Exchange for listing on the main board, with CITIC SEC as its exclusive sponsor. Company Profile The prospectus shows that Huachun New Materials is a leading technology enterprise specializing in the research and development, production, and sales of high-performance electrolytic copper foil products, including lithium battery copper foil and electronic circuit copper foil. According to data from Frost & Sullivan, the company is the third largest electrolytic copper foil producer in the world based on shipment volumes in 2025, with a market share of approximately 5.4%. The company's product portfolio includes two core categories: (i) high-performance lithium battery copper foil, mainly double-sided glossy copper foil, used as a key negative electrode collector in lithium batteries; and (ii) electronic circuit copper foil, a key conductive material used in the production of CCL and PCB. Electrolytic copper foil is an important raw material for the manufacturing of lithium batteries and electronic circuits, and is an essential component in the new energy and electronic information industries. Based on end-use scenarios, electrolytic copper foil products can generally be divided into lithium battery copper foil and electronic circuit copper foil. The company's lithium battery copper foil products mainly include double-sided high-performance lithium battery copper foil, used as the negative electrode collector in lithium batteries. The company offers a full range of lithium battery copper foil products with tensile strength ranging from 220MPa to 1,400MPa, and has made breakthroughs in the mass production of copper foil below 6 microns, making it one of the few enterprises in the industry capable of producing and supplying lithium battery copper foil in the range of 3 to 3.5 microns. Electronic circuit copper foil is a core conductive material for CCL and PCBs. It forms precise circuits through etching, serving two core functions: (i) transmission channels for electronic signals and power, and (ii) physical carriers for component installation and interconnection. Therefore, electronic circuit copper foil directly determines the signal integrity, reliability, and integration level of circuits. It is widely used in consumer electronics, communication equipment, automotive electronics, digital infrastructure, and is considered the "basic neural network" of the modern electronic information industry. The company primarily serves customers in the downstream lithium battery and electronic circuit markets, using a customer-oriented integrated business model that closely integrates the research, production, sales, and commercialization of high-performance electrolytic copper foil. Sales of electrolytic copper foil products are the company's main source of revenue. The detailed revenue breakdown by product line in absolute amounts and as a percentage of total revenue is shown in the graph: As of December 31, 2025, the company operates three production bases in China, namely the Tongling production base, Yulin production base, and Nanchang production base. The total construction area of the production bases is approximately 506,730.1 square meters, equipped with 72 production lines supporting a total designed annual production capacity of 152,000 tons. Financial Information Revenue In the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 4.362 billion, RMB 5.533 billion, and RMB 8.63 billion, respectively. Profit In the fiscal years 2023, 2024, and 2025, the company's annual profits were approximately -RMB 212 million, -RMB 364 million, and RMB 97.643 million, respectively. Gross Margin In the fiscal years 2023, 2024, and 2025, the company's gross margins were approximately 1.3%, -0.3%, and 6.5%, respectively. Industry Overview Electrolytic copper foil is a thin layer metal material formed by depositing copper ions on the cathode surface through electrolysis of copper sulfate solution using high-purity copper as raw material. It has characteristics such as controllable thickness, high uniformity, and excellent electrical conductivity. With the continuous development of the new energy industry and electronic information industry, the demand for key basic materials in lithium batteries and high-end electronic manufacturing continues to increase, driving the continuous expansion of the electrolytic copper foil market. Global electrolytic copper foil shipments are expected to increase from 815,900 tons in 2021 to 1.8542 million tons in 2025. Looking ahead, driven by the continuous growth in demand for new energy vehicles, energy storage systems, and high-performance electronic products, the importance of electrolytic copper foil as a key material for negative electrodes and electronic interconnections will further highlight. It is estimated that global electrolytic copper foil shipments will reach 4.349 million tons by 2030. Lithium battery copper foil is a core component of the electrolytic copper foil market, with its demand growth mainly driven by the accelerated penetration of new energy vehicles, energy storage systems, and electrification. With the continued expansion of the scale of power battery installations and the evolution of single-cell batteries towards higher energy density, the demand for and performance requirements of negative electrode collectors are increasing. Global lithium battery copper foil shipments are expected to increase from 1.2318 million tons in 2025 to 3.3988 million tons in 2030. Electronic circuit copper foil is mainly used in the electronic circuit board field, and its demand is highly correlated with the overall development level of the electronic information industry. Global electronic circuit copper foil shipments are expected to increase from 622,300 tons in 2025 to 946,100 tons in 2030. In 2025, the global electrolytic copper foil market exhibited a relatively fragmented competitive landscape. The top five companies, based on electrolytic copper foil shipments, collectively accounted for approximately 28.9% of the market share. The company, with approximately 100,100 tons of electrolytic copper foil shipments, held a 5.4% market share, ranking third in the industry. In 2025, the global lithium battery copper foil market presented a leading but relatively fragmented competitive landscape. The top five companies, based on lithium battery copper foil shipments, collectively accounted for approximately 39.3% of the market share. The company, with approximately 94,400 tons of lithium battery copper foil shipments, held a 7.7% market share, ranking third in the industry. Board of Directors Information The company's board of directors consists of 7 directors, including 2 executive directors, 2 non-executive directors, and 3 independent non-executive directors. Directors serve a term of 3 years and may be re-elected, while independent non-executive directors may not serve for more than six consecutive years. Ownership Structure As of June 5, 2026, Mr. Chen, Ms. Qiu, TMA International, Huajin Hong Kong, Tongxiang Huajin, Huayou Holdings, and Tongling Chuanganhui collectively hold approximately 61.72% of the company's issued share capital. Huayou Holdings holds 58.17% of the company's shares. Huayou Holdings is held by Mr. Chen, TMA International, and Ms. Qiu, with 60.00%, 33.33%, and 6.67% of the shares, respectively. Ms. Qiu is the spouse of Mr. Chen. TMA International is controlled by Huajin Hong Kong, which is wholly owned by Tongxiang Huajin, which is fully owned by Mr. Chen. Tongling Chuanganhui holds 3.54% of the company's shares, and Huayou Holdings is Tongling Chuanganhui's general partner, holding 44.59% of its equity. Intermediary Team Exclusive Sponsor: CITIC SEC (Hong Kong) Limited Legal Advisor: Regarding Hong Kong and U.S. law: Clifford Chance; Regarding Chinese law: Guohao Law Firm (Hangzhou) Legal Advisor for the Exclusive Sponsor: Regarding Hong Kong and U.S. law: Baker & McKenzie; Regarding Chinese law: Jingtian Gongcheng Law Firm Auditors and Reporting Accountants: KPMG Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd., Shanghai Branch