SENIOR MATERIAL Hong Kong stock listing: Market value HKD 17.5 billion, Xinwangda supports, Q1 net profit down 37%

SENIOR MATERIAL was listed on the Hong Kong Stock Exchange on June 23, with an issue price of HKD 8.98, raising a net amount of HKD 1.281 billion. Institutions such as Xinwangda participated in cornerstone investments. The stock opened up 8.46% and is currently up 30%, with a market capitalization of approximately HKD 17.4 billion. This move establishes the company's "A+H" share structure. Previously, the company's A-share market value was RMB 25.5 billion, with a net profit decline of 37% in the first quarter

LeiDi Network, Lei Jianping, June 23

Shenzhen Senior Material Technology Co., Ltd. (abbreviated as "Senior Material", stock code: "06067") was listed on the Hong Kong Stock Exchange today.

The issue price of Senior Material is HKD 8.98, issuing 149.5 million shares, with a total fundraising amount of HKD 1.343 billion; after deducting the listing fees of HKD 61.7 million, the net fundraising amount is HKD 1.281 billion.

The cornerstone investors of Senior Material include Wells Fargo, GF Fund, Taikang Life, Harvest International Premium Value, Freshwater Capital (Hong Kong), GaoTeng Enterprise Management, CICC Financial Trading, XinWangDa Finance, Jinko Energy Investment, Mondeomax, Bona Star, Shen San He, SHEEN NATION, and Chen Feng, holding a total of USD 77.52 million (approximately HKD 608 million).

Among them, Wells Fargo holds USD 7.7 million, GF Fund and Taikang Life each subscribed USD 6.5 million, Harvest International Premium Value subscribed HKD 44.65 million, Freshwater Capital (Hong Kong) subscribed HKD 50 million, GaoTeng Enterprise Management and CICC Financial Trading Limited (related to OTC swap) subscribed USD 3 million, and XinWangDa Finance subscribed HKD 20 million.

Jinko Energy Investment subscribed HKD 40 million, Mondeomax subscribed HKD 100 million, Bona Star subscribed HKD 75 million, Shen San He subscribed HKD 50 million, SHEEN NATION subscribed USD 3 million, and Chen Feng subscribed USD 2 million.

The opening price of Senior Material's Hong Kong stock is HKD 12.43, an increase of 8.46% compared to the issue price; as of now, the company's stock price has risen by 30%, with a market value of approximately HKD 17.4 billion.

Senior Material was listed on the Shenzhen Stock Exchange in 2016 and on the Swiss Stock Exchange in 2023. The closing price of Senior Material's A-shares today is RMB 18.94, down 6.84% from the previous day; based on the closing price, the company's market value is RMB 25.5 billion.

With this listing on the Hong Kong stock market, Senior Material has formed an "A+H" share structure. The premium of Senior Material's H/A shares is -46.73% Annual revenue of 4.1 billion, net profit down 61.5% year-on-year

SENIOR MATERIAL was established in 2003 and is a manufacturer of lithium-ion battery separators, dedicated to providing high-quality products to global customers.

SENIOR MATERIAL's clients include LG Energy Solution, Samsung SDI, Envision AESC, Murata, SKOn, SAFT, CATL, BYD, Guoxuan High-Tech, Zhongchuangxin Hang, EVE Energy, and Xinwangda.

SENIOR MATERIAL's revenue for 2023, 2024, and 2025 is projected to be 2.982 billion, 3.5 billion, and 4.077 billion respectively; gross profit is expected to be 1.29 billion, 984 million, and 883 million respectively; net profit for the periods is expected to be 594 million, 371 million, and 143 million respectively.

In the past three years, SENIOR MATERIAL's net profit has been on a downward trend. Among them, SENIOR MATERIAL's revenue in 2025 is expected to grow by 16.5% year-on-year, while net profit is expected to decline by 61.5%.

In the first quarter of 2026, SENIOR MATERIAL's revenue was 1.081 billion, an increase of 21.53% compared to 889 million in the same period last year; net profit was 29.27 million, a decrease of 37% compared to 46.71 million in the same period last year; net profit after deducting non-recurring items was 21.52 million, a decrease of 37% compared to 34.26 million in the same period last year.

Professor Chen Xiufeng controls 12.7% of the shares.

The executive directors of SENIOR MATERIAL are Professor Chen Xiufeng, Dr. ZHANGXIAOMIN, and Xu Liqiang; the non-executive director is Zhu Peter, and the independent non-executive directors are Tang Changjiang, Dr. Lin Zhiwei, Ms. Sun Zhenzhen, and Liang Shuxin.

As of March 31, 2026, Chen Xiufeng holds 12.67% of the shares, Hong Kong Central Clearing Limited holds 2.25%, Huatai Securities Co., Ltd. - Penghua CSI Subdivision Chemical Industry Theme ETF holds 1.8%, and Agricultural Bank of China Co., Ltd. - Shenwan Hongyuan New Energy Vehicle Theme Flexible Allocation Mixed Securities Investment Fund holds 1.07%;

As of March 31, 2026, the equity structure of Senior Material

GATES FOUNDATION TRUST holds 0.79%, Shanghai Pudong Development Bank Co., Ltd. - Huatai-PineBridge Dual Advantage Enhanced Bond Securities Investment Fund holds 0.74%, China Galaxy Securities Co., Ltd. Special Repurchase Account holds 0.66%, Changzhou Dongfang Industrial Guidance Venture Capital Co., Ltd. holds 0.64%;

China Construction Bank Co., Ltd. - Fortune SG China Securities Subdivision Chemical Industry Theme Exchange-Traded Open-Ended Index Securities Investment Fund and Bank of China Co., Ltd. - Huatai-PineBridge China Securities Battery Theme Exchange-Traded Open-Ended Index Securities Investment Fund hold 0.51% respectively.

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