Futu supported Star Source Material (06067.HK), a 'lithium-ion battery separator manufacturer,' in its successful listing on the Hong Kong Exchange

June 23, 2026,"Lithium-ion battery separator manufacturer" — $SENIOR MATERIAL (06067.HK)$ successfully listed on the Main Board of the Hong Kong Exchange.Futu, acting as joint bookrunner and joint lead manager for this IPO,, leveraged its technological platform to precisely reach a diverse base of high-quality investors, facilitating a smooth public offering process. In this offering, Futu’s public subscription amount exceeded HK$62.9 billion, leading the entire market and effectively ensuring post-listing secondary market liquidity and trading activity for the company.

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.

According to the prospectus, Sinuo 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.

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.

This Main Board listing on the Hong Kong Exchange marks a new milestone in Sinuo Material's over two decades of deep specialization in the separator segment and will accelerate the company’s global capacity expansion and advancement in cutting-edge materials technology.

Going forward, Futu will continue leveraging its fintech platform capabilities to support more high-quality innovative manufacturing companies in accessing international capital markets.

As a leading digital fintech company, Futu leverages its investor ecosystem of over 30.17 million users and a comprehensive corporate services platform to offer end-to-end solutions throughout the pre-IPO, IPO, and post-IPO stages. Core offerings include an all-in-one ESOP equity management solution, Hong Kong and U.S. IPO distribution*, investor relations (IR) and public relations (PR), financial communications services, international bookbuilding, and secondary market trading services.

In Q1 2026, more than 60% of companies listing on the Hong Kong Stock Exchange chose to partner with Futu. Futu’s platform recorded HK$3.1 trillion in subscription value for Hong Kong IPOs in Q1, solidifying its position as the market leader. Its U.S. IPO capabilities have drawn significant attention, with hot new listings such as Bullish, Figure, and Gemini achieving full allocation for all U.S.-based subscribing clients.

As of Q1 2026, Futu served 1,209 corporate clients, providing IPO distribution and IR services to 625 enterprises. It has supported 414 companies—including Meituan, Kuaishou, Xiaomi, Baidu, KE Holdings, JD Health, and Bilibili—in successfully listing in Hong Kong and the U.S. Futu has signed up 853 ESOP clients to date, with over 1,400 listed companies having joined its platform.

In the future, Futu will fully leverage its resources and market influence to provide more professional and efficient services to a larger customer base!

*Securities-related services such as IPO distribution are provided by licensed subsidiaries of Futu.

*Data source: Market cap as of the first day of listing

*Source: Futu Q1 2026 Financial Results

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