New stock news | Tong Bo Technology submits application to Hong Kong Stock Exchange, focusing on the design, research and development, and production and sales of high-performance electrolytic copper foil.

According to the disclosure of the Hong Kong Stock Exchange on January 28, Jiangxi Copper New Material Technology Co., Ltd. (referred to as Copper New Technology) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with Sinolink (Hong Kong) as its exclusive sponsor. Company Profile The prospectus shows that Copper New Technology is a provider of electrolytic copper foil solutions, focusing on the design, research, development, production, and sales of high-performance electrolytic copper foil. According to Frost & Sullivan's data, by sales volume in 2024, the company is the ninth largest electrolytic copper foil producer in China, with a market share of around 4.0%. By sales volume in 2024, the company is also the second largest producer of high-performance lithium-ion copper foil in China, with a market share of 13.0%. The company's product portfolio includes two core categories: standard and high-performance lithium-ion battery copper foils, essential negative electrode current collectors in lithium-ion batteries; and electronic circuit copper foils used in the production of printed circuit boards (PCBs) and copper clad laminates (CCL). The lithium battery copper foils produced by the company are key components in various lithium batteries used in new energy vehicles (NEVs), energy storage systems (ESS), and consumer electronics. The company provides customizable copper foil products with thickness ranging from 3m to 10m, covering various tensile strength grades from standard to extremely high strength. Additionally, high-end electronic circuit copper foil is a core material for manufacturing PCBs and CCLs, widely used in markets such as 5G/6G communications, AI servers, high-performance computing, commercial aerospace, automotive electronics, and consumer electronics. Furthermore, the company supplies samples of specialty negative electrode current collectors for solid-state batteries and hybrid batteries to top global battery manufacturers, as well as samples of reverse treated foil (RTF) and hyper-low profile (HVLP) to leading domestic PCB and CCL manufacturers. The company's business model is characterized by cooperation and customization, providing customized solutions and products to meet the evolving demands of various downstream customers in a wide range of applications. As of January 21, 2026, the company has established long-term partnerships with six of the world's top ten lithium battery manufacturers (including four Chinese companies and two Korean companies). In 2023, 2024, and the nine months ended September 30, 2025, revenue from the top five customers accounted for 85.8%, 87.3%, and 82.0% of total revenue for the respective periods. During the same period, revenue from the largest customer accounted for 48.5%, 62.2%, and 58.0% of total revenue, respectively. Financial Information Revenue For the nine months ended September 30, 2023, 2024, and 2025, the company's revenue was approximately RMB 3.163 billion, RMB 3.212 billion, and RMB 2.849 billion, respectively. Profit For the nine months ended September 30, 2023, 2024, and 2025, the company's net profit and comprehensive income were RMB 63.057 million, RMB 20.58 million, and RMB 41.711 million, respectively. Gross Margin For the nine months ended September 30, 2023, 2024, and 2025, the company's gross margins were 6.7%, 3.1%, and 4.8%, respectively. Industry Overview Electrolytic copper foil is an advanced material primarily made of copper and is a crucial support in the new energy and electronic information industries. Global and Chinese Market Size of Electrolytic Copper Foil Global sales of electrolytic copper foil increased from 590,300 tons in 2020 to 1,493,400 tons in 2024, with a compound annual growth rate of 26.1%. It is expected that global sales of electrolytic copper foil will further increase to 4,066,900 tons by 2029, with a compound annual growth rate of 22.2% between 2024 and 2029. Chinese sales of electrolytic copper foil increased from 362,400 tons in 2020 to 1,048,100 tons in 2024, with a compound annual growth rate of 30.4%. It is projected that Chinese sales of electrolytic copper foil will further increase to 2,714,700 tons by 2029, with a compound annual growth rate of 21.0% between 2024 and 2029. Global and Chinese Market Size of Lithium Battery Copper Foil Power battery copper foil holds the largest share in the electrolytic copper foil market. Global sales of lithium battery copper foil for power batteries increased from 116,600 tons in 2020 to 664,900 tons in 2024, with a compound annual growth rate of 54.5%. It is expected that global sales of lithium battery copper foil for power batteries will further increase to 2,172,100 tons by 2029, with a compound annual growth rate of 26.7% between 2024 and 2029. Global sales of lithium battery copper foil for energy storage batteries increased from 18,300 tons in 2020 to 223,400 tons in 2024, with a compound annual growth rate of 86.9%. It is expected that global sales of lithium battery copper foil for energy storage batteries will further increase to 1,003,800 tons by 2029, with a compound annual growth rate of 35.1% between 2024 and 2029. China Shipbuilding Industry Group Power's sales of lithium battery copper foil for power batteries increased from 62.9 thousand tons in 2020 to 526,500 tons in 2024, with a compound annual growth rate of 70.1%. It is expected that China Shipbuilding Industry Group Power's sales of lithium battery copper foil for power batteries will further increase to 1,638,500 tons by 2029, with a compound annual growth rate of 25.5% between 2024 and 2029. Chinese sales of lithium battery copper foil for energy storage batteries increased from 5,700 tons in 2020 to 115,000 tons in 2024, with a compound annual growth rate of 112.1%. It is expected that Chinese sales of lithium battery copper foil for energy storage batteries will further increase to 462,200 tons by 2029, with a projected compound annual growth rate of 32.1% between 2024 and 2029. In 2024, the top ten global electrolytic copper foil manufacturers accounted for approximately 48.1% of the market share, with the rest being held by numerous other companies indicating a relatively balanced market structure without a dominant player. In 2024, the company's electrolytic copper foil sales reached 39,500 tons, generating revenue of RMB 3.2 billion, ranking it as the 10th largest in the global electrolytic copper foil industry by sales volume. Among competitors in China, the company ranked 9th. Board of Directors The company's board of directors consists of 9 directors, including 4 executive directors, 1 non-executive director, and 4 independent non-executive directors. Ownership Structure As of January 21, 2026, Mr. Li Xianyang, Mr. Li Siyang, and Zhuhai Xinyan (a limited partnership controlled by Mr. Li Siyang) collectively have the right to exercise approximately 71.1% of the total voting rights of the company's issued share capital, and are considered a controlling shareholder group. Specifically, Mr. Li Xianyang, by holding direct interests in 91,545,000 shares, can exercise voting rights corresponding to approximately 39.3% of the company's issued share capital; Mr. Li Siyang, by holding direct interests in 57,375,209 shares, can exercise voting rights corresponding to approximately 24.7% of the company's issued share capital. Additionally, Mr. Li Siyang concurrently serves as the executive partner of Zhuhai Xinyan Limited Liability Partnership, which holds 16,451,879 shares of the company, accounting for approximately 7.1% of the total issued share capital. Intermediaries Sponsor: Sinolink (Hong Kong) Limited Legal Counsel: Regarding Hong Kong laws: Joint venture between Zhou Junxuan Law Firm and Beijing Tongshang Law Firm; Regarding Chinese laws: Beijing Deheng Law Firm Legal Counsel for the Sponsor: Regarding Hong Kong and U.S. laws: Sullivan & Cromwell LLP (Hong Kong) Limited Liability Partnership; Regarding Chinese laws: Shanghai Fangda (Shenzhen) Law Firm Auditors and Reporting Accountants: Ernst & Young Industry Consultant: Frost & Sullivan Consulting (Beijing) Co., Ltd., Shanghai Branch Compliance Counsel: Chuangshang Financing Limited