On September 15, Zhongrun Solar Energy again submitted an application for listing to the main board of the Hong Kong Stock Exchange.
Earlier, on March 13, less than nine months after the withdrawal of the A-share listing application, Zhongrun Guangneng submitted its prospectus to the Hong Kong Stock Exchange, with CITIC Construction Investment International and CITIC Securities as co-sponsors.
automatically invalid .
That is to say, on September 13, the first listing application submitted by Zhongrun Guangneng was invalid.
This resubmission, can IPO of Hong Kong stocks of Zhongrun Solar Energy be completed smoothly? databm.com/hot/1949/" target="_blank" style="color: #4284f4; text-decoration: underline; "Data-word =" "> Photovoltaic cell manufacturer, and the company's business also involves this year.
Zhongrun Solar Energy has been criticized for its high debt ratio, single product structure and high customer concentration. (Related reading: First Half Year, Zhongrun Solar Energy achieved revenue of 7.465 billion yuan and net profit of 12.
In terms of debt ratio, the debt ratio of Zhongrun Solar Energy also declined in the first half of this year. From 83.7% in 2024 to 76% . But in the business, Zhongrun Solar has been actively extending the industrial chain layout component links." However, from the performance point of view, the contribution of components is still small. The prospectus shows that component revenue accounted for 7.5%, 9%, 18.7% and 14
% of the total revenue in the first half of 2022 to 2025, respectively. The sales revenue of the top 5 customers accounted for 49.8%, 52.9%, 37.2% and 59% of the total revenue of Zhongneng Solar in the same period, respectively.
In addition, Zhongrun Solar Energy disclosed in the prospectus that the company's effective capacity of N-type batteries is 49 GW . The capacity of the N-type battery under modification is 6GW ; the effective capacity of the module is 8GW .