The prospectus for the Hong Kong IPO of Cngr Advanced Material Co., Ltd. (300919.SZ), submitted on April 22, has expired after six months on October 22. During its submission, Morgan Stanley and Huatai International acted as joint sponsors. According to the prospectus, Cngr Advanced Material is an innovative new energy materials company. Since 2020, the company has been a global leader in the shipment of nickel and cobalt-based lithium-ion battery cathode active material precursors (pCAM) for five consecutive years and was the top supplier of phosphate pCAMs in the global export market in the first quarter of 2025. The company focuses on the research, development, production, and sales of new energy battery materials and new energy metal products. Starting from the R&D of innovative new energy battery materials, it has established an integrated operation model that encompasses everything from upstream new energy metal mining, smelting, and refining to the production and recycling of new energy materials.
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