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joined discussion · Jun 23 08:13

IPO Pricing | 'Lithium-ion battery separator manufacturer' Senior Material debuted today, receiving over 1,500 times subscription; gray market gain of HK$1,830 per lot

Futu News, June 23:$SENIOR MATERIAL (06067.HK)$The allotment results have been announced, with a final offer price of HK$8.98 per share. A total of 149 million shares were issued, with each board lot comprising 500 shares. The shares officially listed today.
On the previous trading day, Senior Material closed up 40.76% at HK$12.64. With each board lot consisting of 500 shares, investors gained HK$1,830 per lot excluding transaction fees.
During the public offering stage, Senior Material received 1,563.16 times subscription. The final number of shares allocated to the public offering was 14.9525 million shares, representing approximately 10% of the total offered shares. Approximately 209,600 valid applications were received in total, with about 22,263 applications processed. The approximate percentage of applicants who applied for one lot and were allotted shares was 2% of the total applied shares.
Additionally, during the international offering phase, Senior Material received 14.34 times subscription coverage. The final number of shares allocated to the international offering amounted to 134 million shares, representing 90% of the total offering. Futu News compiled the relevant data in the table below:
Futu News, June 23:$SENIOR MATERIAL (06067.HK)$The allotment results have been announced, with a final offer price of HK$8.98 per share. A total of 149 million shares were issued, with each board lot comprising 500 shares. The shares officially listed today. On the previous trading day, Senior Material closed up 40.76% at HK$12.64. With each board lot consisting of 500 shares, investors gained HK$1,830 per lot excluding transaction fees. During the public offering stage, Senior Material received 1,563.16 times subscription. The final number of shares allocated to the public offering was 14.9525 million shares, representing approximately 10% of the total offered shares. Approximately 209,600 valid applications were received in total, with about 22,263 applications processed. The approximate percentage of applicants who applied for one lot and were allotted shares was 2% of the total applied shares. Additionally, during the international placing stage, Senior Material received 14.34 times subscription. The final number of shares allocated to the international offering was 134 million shares, equivalent to 90% of the total offered shares. Futu Insights has compiled the relevant data in the table below: Company Overview Senior Material is a competitive lithium-ion battery separator manufacturer. Founded in 2003, the company has accumulated over 20 years of industry experience in the research and development, production, and sales of lithium-ion battery separators. According to Frost & Sullivan, the company was the first in China to master the dry-process uniaxial stretching technology for lithium-ion battery separators. In 2025, by shipment volume, the company’s dry-process separators...
Futu News, June 23:$SENIOR MATERIAL (06067.HK)$The allotment results have been announced, with a final offer price of HK$8.98 per share. A total of 149 million shares were issued, with each board lot comprising 500 shares. The shares officially listed today. On the previous trading day, Senior Material closed up 40.76% at HK$12.64. With each board lot consisting of 500 shares, investors gained HK$1,830 per lot excluding transaction fees. During the public offering stage, Senior Material received 1,563.16 times subscription. The final number of shares allocated to the public offering was 14.9525 million shares, representing approximately 10% of the total offered shares. Approximately 209,600 valid applications were received in total, with about 22,263 applications processed. The approximate percentage of applicants who applied for one lot and were allotted shares was 2% of the total applied shares. Additionally, during the international placing stage, Senior Material received 14.34 times subscription. The final number of shares allocated to the international offering was 134 million shares, equivalent to 90% of the total offered shares. Futu Insights has compiled the relevant data in the table below: Company Overview Senior Material is a competitive lithium-ion battery separator manufacturer. Founded in 2003, the company has accumulated over 20 years of industry experience in the research and development, production, and sales of lithium-ion battery separators. According to Frost & Sullivan, the company was the first in China to master the dry-process uniaxial stretching technology for lithium-ion battery separators. In 2025, by shipment volume, the company’s dry-process separators...
Company Overview
Senior Material is a competitive manufacturer of lithium-ion battery separators. Founded in 2003, the company has accumulated over 20 years of industry experience in the research and development, production, and sales of lithium-ion battery separators. According to Frost & Sullivan, Senior Material was the first Chinese company to master the dry-process uniaxial stretching technology for lithium-ion battery separators. In 2025, the company ranked first globally in market share for dry-process separators by shipment volume.
As an early entrant into the lithium-ion battery industry, the company has grown into a well-known global supplier in the lithium-ion battery separator market. Senior Material is one of the few companies with independent equipment research and design capabilities, giving it a unique position in the industry. It also possesses proprietary micropore fabrication technology, which it has leveraged to establish a competitive battery separator production line.
Financial Summary
CNGR Advanced Material's revenue increased by 17.6% from RMB 29,819 million in 2023 to RMB 35,062 million in 2024, and further rose by 16.3% to RMB 40,768 million in 2025. The company’s gross profit was RMB 12,904 million, RMB 9,843 million, and RMB 8,832 million in 2023, 2024, and 2025, respectively.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, Senior Material expects net proceeds from the global offering to amount to approximately HK$1.263 billion (based on an issue price of HK$8.98 per share). According to the prospectus, Senior Material intends to allocate the proceeds from the global offering toward the following purposes:
Approximately 28% will be used for R&D of solid-state battery-related products, other functional films, and next-generation lithium-ion battery separator products; approximately 27% will be allocated to expanding the company’s overseas network, specifically including building production facilities in Malaysia and the United States; approximately 20% will be invested in companies specializing in new battery separator materials and the semiconductor sector to enhance core technologies and broaden the product portfolio, thereby establishing a second growth curve; approximately 15% will be used to repay fixed-asset loans related to the production facility in Sweden; and approximately 10% will be allocated for general working capital and general corporate purposes.
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Futu News, June 23:$SENIOR MATERIAL (06067.HK)$The allotment results have been announced, with a final offer price of HK$8.98 per share. A total of 149 million shares were issued, with each board lot comprising 500 shares. The shares officially listed today. On the previous trading day, Senior Material closed up 40.76% at HK$12.64. With each board lot consisting of 500 shares, investors gained HK$1,830 per lot excluding transaction fees. During the public offering stage, Senior Material received 1,563.16 times subscription. The final number of shares allocated to the public offering was 14.9525 million shares, representing approximately 10% of the total offered shares. Approximately 209,600 valid applications were received in total, with about 22,263 applications processed. The approximate percentage of applicants who applied for one lot and were allotted shares was 2% of the total applied shares. Additionally, during the international placing stage, Senior Material received 14.34 times subscription. The final number of shares allocated to the international offering was 134 million shares, equivalent to 90% of the total offered shares. Futu Insights has compiled the relevant data in the table below: Company Overview Senior Material is a competitive lithium-ion battery separator manufacturer. Founded in 2003, the company has accumulated over 20 years of industry experience in the research and development, production, and sales of lithium-ion battery separators. According to Frost & Sullivan, the company was the first in China to master the dry-process uniaxial stretching technology for lithium-ion battery separators. In 2025, by shipment volume, the company’s dry-process separators...
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Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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