Accelerate the international innovation process to create a green aluminum industry group.

Since the beginning of this year, the hot trend of Hong Kong-listed stocks continues to rise. Data shows that in the first half of this year, the Hong Kong Stock Exchange completed 43 IPO projects, an increase of about 43% year-on-year; the total fundraising amount reached HK$106.713 billion, a year-on-year increase of 688.54%, surpassing the total fundraising amount of HK$88.147 billion in the whole year of 2024. Today, Innovation International updated its A1 prospectus, supplementing the latest operational data up to May 2025, and once again submitted an application for listing to the Hong Kong Stock Exchange, advancing the process of Hong Kong IPO. The submission comes during a window of opportunity when aluminum prices are rebounding, the Hong Kong IPO market is hot, and policy dividends are being released. As an aluminum industry group, Innovation International is currently mainly engaged in the production and sales of electrolytic aluminum, alumina, and other related products, focusing on the high value-added segments of the aluminum industry chain, with CICC and Huatai International as joint sponsors. Benefiting from the decline in alumina prices after the first quarter of this year, the average purchase price of alumina ore by Innovation International from January to May 2025 has dropped significantly, relieving pressure on raw material costs. Factors restricting the company's profitability have been removed, and the company's profitability is expected to continue to improve. In addition, the prospectus discloses that the company's financial expenses have been significantly optimized, with a nearly 30% year-on-year decrease in financial expenses from January to May 2025, further enhancing operational efficiency and financial health. In terms of green energy construction, Innovation International is accelerating the layout of the green electrolytic aluminum industry. The prospectus shows that as of May 2025, the company's installed capacity of green energy reaches 510 megawatts, including 400 megawatts of wind power and 110 megawatts of photovoltaic projects, most of which are already in operation. This not only consolidates the company's cost advantage but also effectively promotes the low-carbon transformation of the electrolytic aluminum industry chain. The funds raised by the company will mainly be used to expand overseas electrolytic aluminum smelting capacity, build green energy power stations, and optimize operating capital to support its globalization strategy and sustainable development goals. According to reports, China's electrolytic aluminum smelting capacity utilization rate has climbed to a historical high of 96%, and it is estimated that by 2034, the annual demand gap in the market will exceed one million tons. With the strategic location advantages of Hohhot City in Inner Mongolia and Binzhou City in Shandong, as well as cooperation with leading global aluminum alloy processors, Innovation International can seize the opportunities for global aluminum industry development and steadily improve its competitiveness in the global aluminum industry.