According to documents filed by the Hong Kong Stock Exchange on January 30, GE Pai Nickel and Cobalt submitted an application for listing on the Hong Kong Stock Exchange on January 28, with Haitong International and CITIC Construction Investment International as the co-sponsors.
Gepai Nickel and Cobalt is a leading supplier of vertically integrated new energy battery materials in China and the world. at the same time, it focuses on nickel and cobalt, the two main upstream resources for the production of lithium-ion battery cathode materials widely used in new energy vehicles and consumer electronics products.
According to Frost Sullivan, Gepai Nickel and Cobalt is the second largest cobalt salt refiner in the world in terms of sales in 2020, and ranks fifth and second in terms of China's total imports of cobalt raw materials and nickel sulphide concentrates in 2020, respectively. In 2019, 2020 and the first nine months of 2021, the total output of cobalt salts was 2301 metal tons, 4369 metal tons and 4713 metal tons, respectively. From 2019 to 2020, the total output of cobalt salt grew by 89.9%, far exceeding the industry average growth rate of 13.4% over the same period. In terms of output growth rate, it ranked first in the world in 2020.
With the explosive growth of new energy vehicles in recent years, the performance of Gepai Nickel and Cobalt is growing at a high speed and is in a leading position in the industry. According to the prospectus, the company's earnings in 2019, 2020 and the first nine months of 2021 were 1.06 billion yuan, 2.45 billion yuan and 2.85 billion yuan respectively, up 130 percent in 2020 and 91.7 percent in the first nine months of 2021. Profits in the same period were 26.512 million yuan, 104 million yuan and 260 million yuan, respectively. Profit in 2020 increased by 294.8 percent, and 549.7 percent in the first nine months of 2021.
Public information shows that GE Pai Nickel and Cobalt has gone through several rounds of financing, and the strategic investors introduced include LGES, Shagang Group, Sino-Russian Energy Fund, Xiamen International Trade and other well-known enterprises and investment institutions.