---
title: "Londian Wason, Electrolytic Copper Foil Manufacturer, Files for NYSE IPO"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295953185.md"
description: "Londian Wason New Energy Tech Inc. filed for an NYSE IPO under ticker 'FOIL', offering 4,285,714 ADSs at $22 each to raise ~$94.3 million. The company, a leading electrolytic copper foil manufacturer for lithium-ion batteries and PCBs, reported 2025 revenue of US$1.56 billion, up 24.9% YoY. It holds a 7.6% global market share in LiB copper foil and serves major clients like CATL and BYD."
datetime: "2026-08-14T15:19:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295953185.md)
  - [en](https://longbridge.com/en/news/295953185.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295953185.md)
generator: "portal-rs"
---

# Londian Wason, Electrolytic Copper Foil Manufacturer, Files for NYSE IPO

Londian Wason New Energy Tech Inc. filed a 424B4 prospectus for its initial public offering of 4,285,714 American Depositary Shares at $22.00 per ADS. The ADSs have been approved for listing on the NYSE under the ticker "FOIL," with each ADS representing five ordinary shares. The company expects gross proceeds of approximately $94.3 million, or about $108.4 million if underwriters exercise their over-allotment option in full.

**Business Description**

Londian Wason is a leading manufacturer of electrolytic copper foil used in lithium-ion batteries and printed circuit boards. Its products serve electric vehicles, energy storage systems, consumer electronics, and high-performance PCB applications, including HVLP and RTF copper foil.

The company operates seven manufacturing facilities in China with a designed annual capacity of approximately 180,500 metric tons and supplies many of the world’s top battery and electronics makers. Londian Wason emphasizes advanced R&D—backed by a 428-person team and a large patent portfolio—to deliver ultra-thin, high-tensile foils (down to 4µm) and to support customers’ next-generation requirements. Revenue is primarily generated from LiB copper foil, with PCB-grade foil and other products as secondary contributors.

**Market Overview**

-   **Total addressable market**: Global LiB copper foil volume was ~1.47 million metric tons in 2025 and is expected to reach ~3.90 million metric tons by 2030.
-   **Market growth**: Global Li-ion battery market volume is projected to grow from ~2,278.9 GWh in 2025 to ~5,912.8 GWh in 2030 (21.0% CAGR).
-   **Market position**: Londian Wason was the world’s largest LiB copper foil supplier by volume in 2025 with a 7.6% market share.
-   **Key competitors**: DEFU, Jiayuan Technology, SK Nexilis, Lotte Energy Material, Solus Advanced Material, Mitsui-Kinzoku, Nippon Mining Holdings, NOUYA Chang Chun, TongGuan.
-   **Industry trends**: Rising EV penetration, rapid ESS buildout, demand for ultra-thin/high-strength foil and HVLP/RTF products, supply chain localization, and supportive policies.

**Operational Metrics**

-   **Customers**: Serves LG Energy Solution, Panasonic Industrial Materials, SK On, Samsung SDI, ATL, CATL, BYD, Sunwoda; 358 customers in 2025 (448 in 2024).
-   **Locations**: Seven manufacturing facilities in China (six electrolytic copper foil sites, one FCCL site).
-   **Geographic presence**: Sells domestically in China and internationally; expanding footprint to North America and Southeast Asia.
-   **Partnerships**: Long-term relationships with leading EV battery and PCB makers; multiple supplier awards (e.g., LG Energy Solution Level S Supplier in 2024).
-   **Other key metrics**: Designed capacity ~180,500 metric tons/year; 2025 production volume 122,153 metric tons; utilization ~87%; 428 R&D staff; 634 registered patents and 168 pending; ~2,692 employees; ~728 core manufacturing personnel.

**Financials Highlights**

-   **Revenue (current)**: RMB 10,942,102 (US$1,564.7 million) in 2025
-   **Revenue growth**: Up 24.9% year over year (2025 vs. 2024)
-   **Gross profit**: RMB 726,957 (US$103.95 million) (6.6% margin)
-   **Operating income**: RMB 350,494 (US$50.12 million)
-   **Net income**: RMB 20,315 (US$2.91 million)

**Management**

-   **Guanran Wang**, Chairman and Co-CEO - Investment and capital markets background; oversees strategy and growth.
-   **Guangling Zhou**, Director and Co-CEO - Operations and corporate leadership experience in industrial and manufacturing sectors.
-   **Shengxian Wang**, Chief Scientist - Electrochemistry expert with extensive publications and patents; leads advanced materials R&D.
-   **Hao Shen**, Chief Financial Officer - Former senior finance executive; public company and capital markets experience.
-   **Xi Zhou**, Director and Financial Controller - Finance and internal audit leadership; experienced in reporting and controls.

**IPO Structure**

-   **Issuer**: LONDIAN WASON NEW ENERGY TECH INC.
-   **Filing date**: August 14, 2026
-   **Proposed ticker**: FOIL
-   **Exchange**: NYSE
-   **Price range**: $22.00 per ADS
-   **Offering size**: US$94,285,708 (US$108,428,562 with full over-allotment)
-   **Shares offered**: 4,285,714 ADSs (each ADS represents five ordinary shares); underwriters’ option for 642,857 ADSs
-   **Lead underwriters**: Cantor Fitzgerald & Co., Huatai Securities (USA), CMB International, US Tiger Securities (with Fortune Securities, BOCOM International, and VC Brokerage participating)
-   **Use of proceeds**: ~45% for global production expansion and upgrades; ~40% for R&D and IT; ~15% for general corporate purposes

Original SEC Filing: Londian Wason New Energy Tech Inc. - 424B4 - Aug. 14, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**