New Stock News | Lithium battery electrolyte supplier Kunlun New Material has submitted a secondary application to the Hong Kong Stock Exchange, with profits of approximately 148 million yuan in the first half of the year.

According to the Hong Kong Stock Exchange's disclosure on August 21, Kunlun New Energy Material Technology (Yichang) Co., Ltd. (hereinafter referred to as "Kunlun New Material") has submitted a listing application to the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. (International) and Ping An Securities (Hong Kong) serving as its joint sponsors. The company had previously submitted a listing application to the Hong Kong Stock Exchange on January 28. According to the prospectus, Kunlun New Material is a global supplier of lithium battery electrolyte, focusing on the research and development, production, and sales of lithium battery electrolytes and emerging battery materials. According to data from Frost & Sullivan, Kunlun New Material is projected to rank third among global electrolyte suppliers by revenue in 2025, with a market share of 3.6%. Kunlun New Material has become a rapidly growing electrolyte technology company in China, with its market share steadily increasing in recent years. According to Frost & Sullivan, the company has significantly increased its electrolyte shipments over the past five years, with a compound annual growth rate (CAGR) of 59.6% from 2021 to 2025, exceeding the industry average. Furthermore, in the past five years, Kunlun New Material's electrolyte shipments ranked among the top suppliers globally, with its market share gradually increasing from 3.0% in 2021 to 4.5% in 2025. Additionally, Kunlun New Material has strategically positioned itself in the emerging battery materials sector, including solid electrolytes, gel electrolytes, solid-liquid hybrid electrolytes, and sodium-ion electrolytes, and has the capability for large-scale production of all these products, as well as offering small batch production services to meet segmented and customized customer demands. Founded in 2004, Kunlun New Material is one of the earliest technology companies in China to research and produce lithium-ion power battery electrolytes. The company's clientele includes leading enterprises in the fields of power batteries, energy storage system batteries, consumer electronics batteries, and emerging application scenarios. As of June 30, 2026, Kunlun New Material has established two R&D bases in Xianghe County, Hebei Province, and Huzhou City, Zhejiang Province, with four specialized R&D centers focusing on synthesis, electrolyte formulation, process development, and technology research. By June 30, 2026, the company holds 171 registered patents in China, covering new processes, new formulations, new material synthesis, and new material applications. Virtually all of these patents have been independently developed by Kunlun New Material. Financial Information Revenue For the six months ending June 30 in 2023, 2024, 2025, and 2026, the company's revenues are approximately RMB 1.577 billion, RMB 1.021 billion, RMB 1.746 billion, and RMB 1.972 billion, respectively. Net Profit/(Loss) For the six months ending June 30 in 2023, 2024, 2025, and 2026, the company's net profit/(loss) are RMB 86.168 million, -RMB 27.609 million, RMB 36.062 million, and RMB 148 million, respectively. Gross Profit For the six months ending June 30 in 2023, 2024, 2025, and 2026, the company's gross profit is approximately RMB 173 million, RMB 45 million, RMB 164 million, and RMB 280 million, respectively. Industry Overview The global lithium battery industry continues to grow rapidly and has become an important pillar for global energy transition and new industrial systems. Global lithium battery shipments increased from 576.0 GWh in 2021 to 2,278.9 GWh in 2025, with a CAGR of 41.0%. It is expected that by 2030, global shipments will exceed 5,900 GWh, with a CAGR of 21.0% starting from 2025. China remains the largest market globally, with shipments rising from 327.0 GWh in 2021 to 1,522.7 GWh in 2025, achieving a CAGR of 46.9%. It is expected that by 2030, shipments will exceed 3,300 GWh, maintaining a CAGR of 16.9% since 2025. In the changing global regional structure, driven by the continuous increase in electric vehicle penetration and the rapid development of energy storage systems, the proportion of European lithium battery shipments in the global total is expected to rise from 11.9% in 2025 to 14.0% in 2030, with a CAGR of 25.1%. To meet localized demand growth, major battery manufacturers are accelerating capacity construction in global markets, driving core segments such as upstream raw materials and electrolytes to accelerate overseas expansion and achieve localization of the supply chain. The global lithium supply system is evolving from centralization to regional collaboration. At the same time, lithium batteries are rapidly expanding into emerging application fields, including new scenarios such as Siasun Robot & Automation and low-altitude economic applications. It is expected that by 2030, the global shipment of lithium batteries in such emerging applications will exceed 260 GWh, with a CAGR of over 40% starting from 2025, becoming a new engine for growth in the lithium battery industry. Board Information The board of directors is responsible for the overall management and operation of the company. The board currently consists of nine directors, including three executive directors, three non-executive directors, and three independent non-executive directors. Shareholding Structure Tianjin Kunyuan, Tianjin Tongde, and Tianjin Kunyuan are three limited partnerships established in China, all controlled by Mr. Guo Yingjun (as their respective general partner). Therefore, under the Securities and Futures Ordinance, Mr. Guo is considered to hold interests in all shares of the company held by Tianjin Tongde, Tianjin Kunyuan, and Tianjin Kunyuan. As a result, Mr. Guo, Tianjin Kunyuan, Tianjin Tongde, and Tianjin Kunyuan constitute a single largest shareholder group. Intermediary Team Joint Sponsors: China Securities Co., Ltd. (International) Financing Limited, Ping An Insurance Capital (Hong Kong) Limited Legal Advisors: Morgan Lewis & Bockius LLP, King & Wood Mallesons Joint Sponsors' Legal Advisors: Tian Yuan Law Firm (Limited Liability Partnership), Zhong Lun Law Firm Auditors and Reporting Accountants: Ernst & Young Independent Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Advisor: Hao De Financing Limited