Highlights of the Global Offering:
- The Hong Kong Public Offering is expected to close at 12:00 noon (at 11:30 a.m. for completing electronic applications under the White Form eIPO service) on Wednesday, 19 November 2025;
- Number of Offer Shares under the Global Offering: 500,000,000 Shares (subject to the Over-allotment Option);
- Number of Hong Kong Offer Shares: 50,000,000 Shares (subject to reallocation);
- Number of International Offer Shares: 450,000,000 Shares (subject to reallocation and the Over-allotment Option);
- Offer Price Range: HK$10.18 to HK$10.99 per Share;
- The Shares will be traded in board lots of 500 Shares each;
- Maximum net proceeds will be approximately HK$5,312.8 million (before any exercise of the Over-allotment Option);
- Dealings in the Shares on the Main Board of the Hong Kong Stock Exchange are expected to commence on Monday, 24 November 2025;
- China International Capital Corporation Hong Kong Securities Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors.
HONG KONG, Nov 14, 2025 - (ACN Newswire) – Chuangxin Industries Holdings Limited (the “Company”, stock code: 02788) announces its Global Offering and the listing of Shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).
Chuangxin Industries Holdings Limited is an integrated enterprise group with a core focus on the aluminum industry, focusing on alumina refining and aluminum smelting within the upstream of the aluminum industry chain. The Company’s business mainly comprises the production and sales of electrolytic aluminum as well as alumina and other related types of products, and has established a self-sufficient and integrated ecosystem across the electrolytic aluminum industry chain that covers “energy — alumina refining — aluminum smelting.” Since 2012, the Company has strategically established its presence and deeply cultivated its business in Huolinguole, Inner Mongolia and Binzhou, Shandong Province, two regions with significant resource advantages. The Company has achieved a high rate of self-sufficiency in alumina and electricity supply, benefiting from its self-owned electricity generation capability and the low electricity prices enabled by Inner Mongolia’s abundant power resources, which are strategically critical to electrolytic aluminum production and the maintenance of strong operational performance. The Company continuously develops an integrated ecosystem across the electrolytic aluminum industry chain, consolidates the cost advantages, and invests in research and development. To realize the long-term goal of achieving a green transition, the Company strives to reduce carbon emissions in the electrolytic aluminum industry chain.
Chuangxin Industries Holdings Limited plans to offer an aggregate of 500,000,000 Shares (subject to the Over-allotment Option) under the Global Offering, of which 450,000,000 Shares (subject to reallocation and the Over-allotment Option) will be offered by way of International Placing, and 50,000,000 Shares (subject to reallocation) will be offered in the Hong Kong Public Offering. The Offer Price will not be more than HK$10.99 per Share and is currently expected to be not less than HK$10.18 per Share, with the board lot size of 500 shares.
The Hong Kong Public Offering commenced on Friday, 14 November 2025 and is expected to close at 12:00 noon (at 11:30 a.m. for completing electronic applications under the White Form eIPO service) on Wednesday, 19 November 2025. Dealings in H Shares on the Stock Exchange are expected to commence on Monday, 24 November 2025.
Assuming the Over-allotment Option is not exercised, if the Offer Price is set at HK$10.58 per Share (being the mid-point of the Offer Price range), the Company estimates that it will receive net proceeds of approximately HK$5,113.2 million from the Global Offering after deducting the underwriting commissions and estimated offering expenses. The Company intends to apply the net proceeds for the following purposes:
- Approximately 50% is expected to be used for expanding overseas production capacity, including the construction of an aluminum smelter and the purchase and installation of production equipment.
- Approximately 40% is expected to be used for green energy projects, including the construction of green power plants and the purchase and installation of equipment used therein.
- Approximately 10% is expected to be used for working capital and general corporate uses.
The Company has successfully procured 17 cornerstone investors, including Hillhouse, China Hongqiao, Taikang Life, Glencore AG, Mercuria, Greenwoods, ORlX Group, Investcorp, CPIC IMHK, GF Fund, Fullgoal Fund, Millennium, Jane Street, Polymer, Xiamen ITG Group, Brilliance and Cephei Capital. The Cornerstone Investors have agreed to subscribe for Offer Shares at the Offer Price (exclusive of brokerage fee, the SFC transaction levy, the AFRC transaction levy and the Stock Exchange trading fee). Based on the high-end of the Offer Price range, the total subscription amount is approximately US$351.0 million.
China International Capital Corporation Hong Kong Securities Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors, Overall Coordinators and Joint Global Coordinators, as well as the Joint Bookrunners and Joint Lead Managers. UOB Kay Hian (Hong Kong) Limited and CMB International Capital Limited are the Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers. Bank of China International Asia Limited, AVICT Global Asset Management Limited and South China Securities Limited are the Joint Bookrunners and Joint Lead Managers. Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global Limited and Livermore Holdings Limited are the Joint Lead Managers.