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

（Source: Lei Di Intelligent Driving）

Lei Di Network Lei Jianping April 5

Shida Shenghua New Materials Group Co., Ltd. (abbreviated as “Shida Shenghua”) has recently submitted its prospectus, preparing to be listed on the Hong Kong Exchanges and Clearing Limited (HKEX), i.e., the Hong Kong Stock Exchange.

Shida Shenghua has been listed on the A-share market. As of Friday’s market close, Shida Shenghua’s share price was 80.75 yuan, and its market capitalization was 18.8 billion yuan.

Once it is listed on the Hong Kong stock market, Shida Shenghua will form an “A+H” share structure.

Annual revenue of 6.8 billion; net loss of 5.88 million

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

As of December 31, 2025, Shida Shenghua has established five production bases nationwide, 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: materials related to lithium-ion batteries and fine chemicals.

The prospectus shows that Shida Shenghua’s revenue in 2023, 2024, and 2025 was 5.635 billion yuan, 5.547 billion yuan, and 6.8 billion yuan, respectively; gross profit was 353 million yuan, 294 million yuan, and 487 million yuan, respectively; and gross profit margin was 6.3%, 5.3%, and 7.1%, respectively.

In 2025, Shida Shenghua’s revenue from materials related to lithium-ion batteries was 4.794 billion yuan, accounting for 70.4%; its revenue from fine chemicals was 1.615 billion yuan, accounting for 23.7%.

From the perspective of revenue regions, in 2025 Shida Shenghua’s revenue from the Greater China region was 5.756 billion yuan, accounting for 84.5%; and revenue from overseas was 1.053 billion yuan, accounting for 15.5%.

In 2023, 2024, and 2025, Shida Shenghua’s operating profit 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;

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

As of December 31, 2025, Shida Shenghua’s cash and cash equivalents were 400 million yuan.

Guo Tianming controls 21.5% of 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 was held by China Shida Holding with 7.24% equity, Rongfa Group with 6.53% equity, Kaitou Group with 6.53% equity, Shandong Weipu with 0.86% equity, and Dr. Guo with 0.35% equity.

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

China Shida Holding, Rongfa Group, Kaitou Group, Dr. Guo, and Shandong Weipu are the single largest shareholder group. As of the latest date on which the information is actually practicable, 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. holds 11.69%; Xinghe Securities Co., Ltd. — Yong’an China Opportunity Investment No. 5 QFII special account holds 2.71%; and CICC Securities International Financial Holdings Co., Ltd. — Investment Plan No. 4 holds 2.71%;

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

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