New Stock News | Hunan Yuneng New Energy Battery Material (301358.SZ) has submitted its application to the Hong Kong Stock Exchange, ranking first among global suppliers of phosphate cathode materials for six consecutive years.

According to a disclosure by the Hong Kong Stock Exchange on August 17, Hunan Yuneng New Energy Battery Material Co., Ltd. (301358.SZ) (hereinafter referred to as "Hunan Yuneng New Energy Battery Material") has submitted its listing application to the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. and HSBC serving as joint sponsors. Company Overview According to the prospectus, Hunan Yuneng New Energy Battery Material is a globally leading new energy materials company that combines technological innovation with advanced manufacturing capabilities. It focuses on the research, production, and sales of phosphate-based cathode materials (primarily lithium iron phosphate), aiming to provide high-performance, high-consistency, and cost-effective cathode materials to global new energy clients. According to Frost & Sullivan, based on shipment volume, the company has ranked first among global suppliers of phosphate cathode materials for six consecutive years from 2020 to 2025, with a global market share of 28.2% in 2025. The companys main products are lithium iron phosphate cathode materials, while it is also proactively planning for cutting-edge products such as lithium manganese iron phosphate, sodium-ion battery cathode materials, and solid-state battery cathode materials. The company's products are primarily used in fields such as power batteries and energy storage batteries, with core performance indicators at the industry-leading level. The company has established a comprehensive R&D and process management system that covers raw material screening, particle size distribution control, high-temperature solid-state sintering, carbon coating, and doping. The company has developed a robust R&D system and industrialization capabilities regarding high energy density, high consistency, long cycle life, and excellent fast charge performance/energy efficiency, providing a solid technical guarantee for the continuous iteration of products through forward-looking technological layouts. The companys fourth-generation lithium iron phosphate product has already been mass-produced on a large scale, and the fifth-generation lithium iron phosphate product will further enhance the packing density while maintaining excellent electrochemical performance. The company has also developed a new type of lithium manganese iron phosphate material to meet the differentiated product needs of downstream customers. Additionally, the R&D projects for sodium-ion cathode materials, solid-state battery lithium-rich manganese-based cathode materials, high-nickel ternary materials, and high-voltage nickel manganese oxide cathode materials are being successfully advanced. According to Frost & Sullivan, the company has obtained a broad and high-quality customer base due to its industry-leading technological strength, comprehensive product matrix, and the largest lithium iron phosphate production capacity globally. By 2025, the company has achieved full coverage of Chinas top ten manufacturers of power and energy storage batteries and has reached full coverage of nine out of the top ten global power battery manufacturers and all of the top ten global energy storage battery manufacturers. Based on its leading technological strength and capacity advantages, the company is actively expanding into overseas markets, conducting product sampling and validation work with several large overseas battery companies, and expanding overseas capacities, including a production base in Spain. Financial Information Revenue For the fiscal years 2023, 2024, and 2025, and the three months ending March 31, 2026, the company achieved revenues of approximately RMB 41.358 billion, RMB 22.599 billion, RMB 34.625 billion, and RMB 14.965 billion, respectively. Gross Profit For the fiscal years 2023, 2024, and 2025, and the three months ending March 31, 2026, the company recorded gross profits of approximately RMB 2.829 billion, RMB 1.741 billion, RMB 3.152 billion, and RMB 2.418 billion, respectively. Profit for the Year/Period For the fiscal years 2023, 2024, and 2025, and the three months ending March 31, 2026, the company recorded profit for the year/period of approximately RMB 1.581 billion, RMB 590 million, RMB 1.267 billion, and RMB 1.359 billion, respectively. Industry Overview The lithium-ion battery industry is a cornerstone of the global green energy transition, leading the low-carbon transformation in transportation and power. Its core application scenarios focus on power batteries, energy storage batteries, and other emerging applications. As lithium-ion battery shipments enter the TWh era, the industry is welcoming a new phase characterized by surging demand for high-end production capacity and high-quality transitions. The downstream new energy vehicle and energy storage industries continue to inject strong growth momentum into the lithium-ion battery market. Consequently, global lithium-ion battery shipments are expected to increase from 323.2 GWh in 2020 to 2,243.1 GWh in 2025, with a compound annual growth rate (CAGR) of 47.3%, and are projected to further grow to 7,472.3 GWh by 2030, with a CAGR of 27.2% from 2025 to 2030. By technology route, lithium iron phosphate batteries have become the most prominent technology route for global lithium-ion batteries, mainly due to their safety, cycle life, and cost advantages. Shipments are expected to surge from 82.3 GWh in 2020 to 1,520.2 GWh in 2025, with a projected further increase to 5,795.2 GWh by 2030, achieving a CAGR of 30.7% from 2025 to 2030. Their share in global lithium-ion battery shipments is expected to rise rapidly from 25.5% in 2020 to 67.8% in 2025, and to further increase to 77.6% by 2030. Driven by growth in the demand for power and energy storage lithium-ion batteries, global shipments of lithium-ion battery cathode materials are expected to rise from 800,000 tons in 2020 to 5,493,000 tons in 2025, achieving a CAGR of 47.0%. It is anticipated that shipments will further increase to 16,546,000 tons by 2030, with a CAGR of 24.7% from 2025 to 2030. Among them, phosphate cathode materials are expected to experience significant growth, driven by their balanced advantages across various application scenarios, with global shipments projected to increase from 4,037,000 tons in 2025 to 13,480,000 tons in 2030, achieving a CAGR of 27.3%. China, as a core market, leads the development path of the global lithium-ion battery cathode material industry. Shipments of lithium-ion battery cathode materials in China are expected to grow from 508,000 tons in 2020 to 5,017,000 tons in 2025, achieving a CAGR of 58.1%. By 2030, it is projected to reach 14,926,000 tons, with a CAGR of 24.4% from 2025 to 2030. Among these, shipments of phosphate cathode materials in China are expected to rise from 3,892,000 tons in 2025 to 12,757,000 tons in 2030, achieving a CAGR of 26.8%. As the major category of phosphate cathode materials, global shipments of lithium iron phosphate cathode materials are expected to grow rapidly from 127,000 tons in 2020 to 4,006,000 tons in 2025, with a CAGR of 99.4%. In the future, ongoing demand from downstream new energy vehicles, energy storage systems, and emerging fields will continue to drive the need for lithium iron phosphate batteries, resulting in robust demand for lithium iron phosphate cathode materials. Global shipments of lithium iron phosphate cathode materials are expected to further grow to 12,453,000 tons by 2030, with a CAGR of 25.5% from 2025 to 2030. Board Information The company's board of directors consists of ten members, including three executive directors, three non-executive directors, and four independent non-executive directors. Directors are appointed for a term not exceeding three years and may be re-elected upon the expiration of their term. Shareholding Structure As of the last practicable date (August 7, 2026), the company is held approximately 9.03%, 5.67%, and 0.71% by Electric Investment Group, Xiangtan Electrochemical Scientific, and Zhenxiang Guotou respectively, with these three holding a total of about 15.41% of the voting rights, forming the single largest shareholder group of the company. In addition, Contemporary Amperex Technology holds about 6.03% of the shares, and Jinseng New Materials holds about 6.94% of the shares, with the remaining shares held by other institutional investors and public shareholders. Intermediary Team Joint Sponsors: China Securities Co., Ltd. (International) Financing Limited, HSBC Corporate Finance (Hong Kong) Limited Company Legal Advisors: Hong Kong and US Law: Puheng Law Firm (Hong Kong) Limited Liability Partnership; Chinese Law: Beijing Guofeng Law Firm Legal Advisors for Joint Sponsors: Hong Kong and US Law: Smith Field Kay Meyer Law Firm; Chinese Law: Beijing Tongshang Law Firm Auditor and Reporting Accountant: Furuimaze Accounting Firm Limited Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Consultant: China Securities Co., Ltd. (International) Financing Limited