Sunshine Group “terminated” its main board IPO on the Shanghai Stock Exchange mainly engaged in coke and carbon black products

The Zhitong Finance App learned that on August 10, the IPO review status of the main board of the Shanghai Stock Exchange of Shanxi Sunshine Coking Group Co., Ltd. (Sunshine Group) changed to “terminated”. Due to the withdrawal of the issuance and listing application by Sunshine Group and its sponsor, the Shanghai Stock Exchange terminated its issuance and listing review in accordance with the relevant provisions of Article 63 of the “Shanghai Stock Exchange Stock Issuance and Listing Review Rules”.

According to the prospectus, Sunshine Group is a circular economy enterprise group integrating raw coal washing, coke smelting, coal tar processing, and fine chemicals. Based on the coking industry, the company continued to expand into the downstream industrial chain, gradually formed two major business segments, coal chemicals and fine chemicals, and built a circular economy industry chain with company characteristics.

Coke and carbon black products are the company's main source of revenue. During the reporting period, the company's coke products accounted for 68.38%, 64.60% and 63.64% of the main business revenue, respectively; carbon black products accounted for 16.36%, 18.32% and 17.99% of the main business revenue, respectively.

The production capacity and output of the company's main products, coke and carbon black, have advantages in scale. By the end of 2025, the company's coke production capacity was 5.09 million tons and carbon black production capacity was 385,000 tons.

On the financial side, in 2023, 2024, and 2025, the company achieved operating income of approximately RMB 18.194 billion, RMB 15.83 billion, and RMB 12.464 billion, respectively; for the same period, net profit was RMB 676 million, RMB 381 million, and RMB 403 million, respectively.