According to a disclosure by the Hong Kong Stock Exchange on May 21, Beijing Shougang Lanza Technology Co., Ltd. (Shougang Lanza) has passed the hearing for a main board listing, with Yuexiu Finance acting as its sole sponsor. The company has successfully commercialized two main products, ethanol and microbial protein, and has established a stable global customer base due to their distinct sustainable and low-carbon environmental attributes.
As detailed in its prospectus, Shougang Lanza operates in the carbon capture, utilization, and storage (CCUS) sector. It primarily focuses on producing low-carbon products like ethanol and microbial protein through carbon capture and utilization technologies, while also providing comprehensive low-carbon solutions. Since its establishment in 2011, the company has been deeply involved in the CCUS industry. According to data from Frost & Sullivan, Shougang Lanza is the first company in the CCUS sector to have commercialized and scaled up low-carbon product manufacturing using validated synthetic biology technology.
As of the latest practicable date, the company has successfully commissioned and operates four large-scale production facilities across three different provinces in China, demonstrating its capability to replicate the industrial application of its proprietary technology.
Shougang Lanza's ethanol can be utilized in automotive fuels and as a raw material for producing perfumes, sportswear, detergents, packaging materials, among other products. The company's microbial protein is China's first novel feed protein raw material and has also received the first product certificate in the feed raw material category for feed and feed additives issued by the Ministry of Agriculture and Rural Affairs of the People's Republic of China. The company's technology helps reduce the spatial and temporal constraints of traditional agriculture and animal husbandry, pioneering a new pathway for obtaining high-quality protein through industrial production.
The company's business model primarily consists of product sales, mainly ethanol and microbial protein, and providing comprehensive low-carbon solutions for industrial clients. After over a decade of continuous research and development, the company's synthetic biology technology has successfully progressed from laboratory innovation through pilot-scale testing to industrial application. According to Frost & Sullivan, Shougang Lanza has achieved several global firsts, including the world's first large-scale industrial production facility for biological fermentation of steel industry off-gas and the world's first facility for biological fermentation of ferroalloy industry off-gas. The company leverages its expertise and experience in industrial application development to scale biological fermentation technology from the laboratory to industrial production settings.
Shougang Lanza has established an integrated R&D system encompassing product innovation, technology development, and commercialization. This system covers the entire R&D chain from strain construction, fundamental research, and pilot testing to industrial application, ensuring smooth scaling and technological upgrades while maintaining the company's position in sustainable technology. Through R&D, engineering transformation, and commercial application, the company has now mastered the core engineering transformation technologies for six key segments in synthetic biology: gas component purification, biological fermentation, distillation and dehydration, protein separation, wastewater treatment, and waste heat recovery.
As of the latest practicable date, the company holds 264 granted patents and has applied for registration of an additional 128 patents. Through independent research, strategic licensing arrangements, and scientific collaborations, the company has built a comprehensive intellectual property system that supports the commercialization and industrialization of its synthetic biology technology.
Financially, for the years 2023, 2024, and 2025, the company generated revenues of approximately RMB 593 million, RMB 564 million, and RMB 522 million, respectively. During the same periods, it recorded annual losses of approximately RMB 110 million, RMB 246 million, and RMB 325 million, respectively.
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