Nickel industry chain enterprise Liqin Resources (001246.SZ) plans to publicly issue 172.89 million A-shares. The subscription date is September 18

According to the Zhitong Finance App, Liqin Resources (001246.SZ) issued an initial public offering of shares and a prospectus of intent to list them on the main board. The number of shares issued this time was 172.89 million shares, accounting for 10.00% of the total share capital after issuance. The initial inquiry date is September 15, 2026, and the subscription date is September 18, 2026.

Liqin Resources is a world-leading nickel industry chain enterprise. During the reporting period, its main business covered upstream nickel resource procurement, nickel product trading, and nickel product production and sales. The company is deeply involved in the nickel industry chain. Starting with nickel product trade, the company has completed the layout of various links within the industrial chain through continuous extension to the downstream nickel industry.

The company's production sites are mainly located in Obi Island, Indonesia and Suqian, Jiangsu. At the production site in Obi Island, Indonesia, the hydrometallurgy project controlled by the company has been put into operation, with a production capacity of 120,000 metallic tons of nickel-cobalt compounds; the pyrometallurgy projects controlled by the company have been put into operation one after another from December 2024 to May 2026, with a production capacity of 185,000 metal-tons of nickel-iron. In addition, the pyrosmelting project in which the company is a shareholder has been put into operation, with a production capacity of 95,000 tons of nickel and iron. At its production base in Suqian, Jiangsu, Huiran Industrial's pyrosmelting project has a production capacity of 18,000 tons of nickel and iron.

During the reporting period, the company's downstream customers for nickel-cobalt compound products were mainly well-known domestic producers of new energy ternary battery materials; downstream customers of laterite nickel ore and nickel-iron products were mainly stainless steel manufacturers, as well as large-scale commodity trading enterprises with good credit.

With the continuous commissioning of the nickel product production line and strong downstream market demand, the company's sales and profit scale grew steadily. In 2023, 2024 and 2025, the company's revenue was RMB 21.286 billion, RMB 29.846 billion and RMB 40.255 billion, respectively. Net profit attributable to the owners of the parent company after deducting non-recurring profit and loss was RMB 1,001 billion, RMB 1,842 billion and RMB 2,827 billion, respectively. As of the end of 2023, the end of 2024 and the end of 2025, the total assets of the company were RMB 30.172 billion, RMB 37.951 billion and RMB 48.260 billion respectively. The net assets attributable to the owners of the parent company were RMB 9.181 billion, RMB 10.753 billion and RMB 12.729 billion respectively. The overall size of the company was large.

After deducting the issuance costs, the company will invest 2,062 billion yuan in the wet slag recycling demonstration project; 1,985 billion yuan for the MHP refining and production project in accordance with the principle of prioritization.