Chuangxin Industries Holdings Limited (02788.HK) has launched its IPO in Hong Kong. The subscription period will run from November 14 to November 19, with a global offering of 500,000,000 shares and a 15% over-allotment option. The price range for the shares is between HK$10.18 and HK$10.99 per share, with a minimum trading unit of 500 shares, resulting in an entry fee of approximately HK$5,550.42. The stock is expected to list on the main board of the Hong Kong Stock Exchange on November 24, with CICC and Huatai International acting as joint sponsors.

Chuangxin Industries: The Fourth Largest Electrolytic Aluminium Production Base in North China

Offer Proportion: Approximately 10% of the offering (50,000,000 shares) will be available for public subscription in Hong Kong, with the remaining 90% (450,000,000 shares) allocated for international placement.

Offer Price: HK$10.18 – HK$10.99 per share; each board lot consists of 500 shares, with an entry fee of approximately HK$5,550.42.

Subscription Period: November 14 – November 19 (pricing date expected to be November 20).

Listing Date: November 24.

IPO Sponsors: CICC (China International Capital Corporation) and Huatai International.

Company Overview

Chuangxin Industries focuses on the upstream aluminium industry chain, including alumina refining and electrolytic aluminium smelting. According to a CRU report, the company’s electrolytic aluminium smelting plant in Horinger, Inner Mongolia, is the fourth largest in North China and the twelfth largest in China in terms of production. The company is committed to creating a high self-sufficiency and complementary, integrated ecosystem for the electrolytic aluminium industry chain, and is actively advancing green energy transformation.

Financial Information

According to the prospectus, Chuangxin Industries reported revenues of approximately RMB 13.49 billion, RMB 13.82 billion, and RMB 15.16 billion for the years 2022, 2023, and 2024, respectively. During the same period, net profits were RMB 913 million, RMB 1.08 billion, and RMB 2.63 billion. For the first five months of 2025, the company’s revenue was about RMB 7.21 billion, with a net profit of approximately RMB 856 million. Based on the mid-price of HK$10.58 per share, assuming no over-allotment or exercise of the green-shoe option, the company expects to raise a net amount of approximately HK$5.11 billion. The funds will be used for expanding overseas production capacity (approximately 50%), green energy projects (approximately 40%), and working capital and general corporate purposes (approximately 10%).

uSMART launches “HK IPO Fee-Waiver Offer” – subscribe to new shares at zero cost

Margin subscription: 0 % interest, leverage up to 10×

Cash subscription: HK$0 handling fee

Grey-market trading supported

* 0 % interest applies to margin subscription amounts of HK$10 million or below.

^ All handling fees are waived for cash subscriptions.

This promotion is effective from 20 May 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

How to Subscribe for Chuangxin Industries via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to public offerings. After logging into the app, tap "Trade" at the bottom-right, go to "IPO Subscription," select Chuangxin Industries, tap "Public Offer," enter your subscription quantity, and submit your order.

(Image source: uSMART HK App)