Shida Shenghua is rushing toward Hong Kong stocks: annual revenue of 6.8 billion, a loss of 5.88 million, Guo Tianming controls 22% equity

Lei D递 network | Lei Jianping | April 5

Shida Shenghua New Materials Group Co., Ltd. (hereinafter referred to as: “Shida Shenghua”) has recently filed its prospectus, preparing to list on the Hong Kong Stock Exchange.

Shida Shenghua has already been listed on the A-share market. As of Friday’s market close, Shida Shenghua’s share price was 80.75 yuan, with a market cap of 18.8 billion yuan.

Once listed in Hong Kong stocks, Shida Shenghua will form an “A+H” shareholding structure.

Annual revenue 6.8 billion yuan | Net loss 5.88 million yuan

Shida Shenghua is a comprehensive supplier of materials related to lithium-ion batteries. With continued investment in the new energy sector, it has built an end-to-end industrial-chain layout covering electrolyte solvent, lithium hexafluorophosphate (LiPF6), electrolyte additives, electrolyte, and other high-end new materials.

As of December 31, 2025, Shida Shenghua has established five production bases across the country, located in Dongying, Shandong; Zoucheng, Shandong; Wuhan, Hubei; Quanzhou, Fujian; and Meishan, Sichuan, forming a production system of “multi-base coordination and complementary division of labor.”

Shida Shenghua’s products are mainly divided into two categories: lithium-ion battery-related materials business and fine chemicals.

The prospectus shows that Shida Shenghua’s revenue in 2023, 2024, and 2025 was 5.64B yuan, 5.55B yuan, and 6.8 billion yuan, respectively; gross profit was 353 million yuan, 294 million yuan, and 487 million yuan, respectively; and gross margin was 6.3%, 5.3%, and 7.1%, respectively.

In 2025, Shida Shenghua’s revenue from lithium-ion battery-related materials was 4.79B yuan, accounting for 70.4%; revenue from fine chemicals was 1.61B yuan, accounting for 23.7%.

In terms of revenue by regional source, in 2025 Shida Shenghua’s revenue from the Greater China region was 5.76B yuan, accounting for 84.5%; revenue from overseas was 1.05B yuan, accounting for 15.5%.

Shida Shenghua’s operating profit in 2023, 2024, and 2025 was -52.61 million yuan, -75.22 million yuan, and 47.27 million yuan, respectively; operating profit margins were -1%, -1.4%, and 0.7%, respectively;

Shida Shenghua’s losses for the year in 2023, 2024, and 2025 were 65.23 million yuan, 70.42 million yuan, and 5.88 million yuan, respectively; profit margins for the year were -1.2%, -1.3%, and -0.1%, respectively.

As of December 31, 2025, Shida Shenghua held cash and cash equivalents of 400 million yuan.

Guo Tianming controls 21.5% of the equity

Shida Shenghua’s executive directors are Dr. Guo Tianming and Yu Haiming; its non-executive directors are Yu Xiangjin, Jiang Weibo, Chen Wei, and Ms. Li Rongrong; and its independent non-executive directors are Dr. Zhou Hongjun, Dr. Zhang Sheng, and Cui Muqin.

Before the IPO, Shida Shenghua’s equity was held by China Shida Holding for 7.24%, Rongfa Group for 6.53%, Kaitiou Group for 6.53%, Shandong Weipu for 0.86%, and Dr. Guo for 0.35%.

As of the latest date on which the information is actually feasible, Shandong Weipu is ultimately controlled by Dr. Guo Tianming for 69.44% of the equity interests. Therefore, the voting rights attached to the shares held by Shandong Weipu are controlled by and exercised by Dr. Guo Tianming.

China Shida Holding, Rongfa Group, Kaitiou Group, Dr. Guo, and Shandong Weipu are the single largest shareholder group, and as of the latest date on which the information is actually feasible, they hold approximately 21.51% of the total number of issued shares of Shida Shenghua.

As of December 31, 2025, Beijing Zhehou New Energy Technology Development Co., Ltd. held 11.69%, Xinghe Securities Co., Ltd. – Yong’an China Opportunity Investment No. 5 QFII special account held 2.71%, and CICC Securities International Financial Holding Co., Ltd. – Investment Plan No. 4 held 2.71%;

Li Guifang held 2.32%, Hong Kong Securities Clearing Company Limited held 2.31%, Dongying Qiyuan Petroleum & Chemical Co., Ltd. held 1.77%, and Beijing Topriess Energy Trading Co., Ltd. held 1.4%.

—————————————————

Extensive information and precise interpretation are available in the Sina Finance APP