Ma Kuang Co., Ltd.'s IPO on the main board of the Shanghai Stock Exchange has accepted a proposed capital of 1 billion yuan

The Zhitong Finance App learned that on December 4, Fujian Makeng Mining Co., Ltd. (abbreviation: Ma Kuang Co., Ltd.) was accepted on the main board of the Shanghai Stock Exchange. CITIC Securities is the sponsor and plans to raise 1 billion yuan.

According to the prospectus, Ma Kuang Co., Ltd. is an enterprise engaged in the development and comprehensive utilization of iron ore resources for a long time. It is mainly engaged in the selection and comprehensive utilization of iron ore, sales of iron powder and molybdenum concentrate, and mining and sales of limestone. The main products are iron powder, molybdenum concentrate and limestone.

The company has mining rights for the nationally famous Makeng iron ore. As of the end of 2024, the iron ore reserves of Makeng Iron Ore were 330.393 million tons, with a total of 44,300 tons of molybdenum ore (measured by metal weight) and 31.1790 million tons of limestone ore for cement. According to the Ministry of Natural Resources's “Mineral Resource Reserve Scale Classification Standard”, Makeng iron ore is a large-scale iron ore. With abundant resource advantages, advanced mining technology advantages, and location advantages close to steel companies, the company has become the largest domestic iron ore mining enterprise, ranking 21st among the top 50 metallurgical mining enterprises in China in 2024.

According to statistics from the China Metallurgical and Mining Enterprise Association, in 2024, the company's iron powder production ranked among the top five key independent iron mining mines in the country; according to “My Steel Network” statistics, the company's iron ore raw ore production in 2023 accounts for more than 10% of the iron ore production in the southeast coastal region of China.

After deducting the issuance fee, the funds raised in this public offering of new shares will be invested in the following projects:

On the financial side, in 2022, 2023, 2024, and January-June 2025, Ma Mining Co., Ltd. achieved operating income of approximately RMB 2,057 billion, RMB 1,962 million, RMB 2,050 million, and RMB 1,045 million; net profit for the same period was RMB 659 million, RMB 651 million, RMB 664 million, and RMB 362 million, respectively.