On August 18, Hai'an Rubber Group Co., Ltd. (Hai'an Rubber) saw its IPO application status on the Shenzhen Stock Exchange main board updated to "submitted for registration." Guotai Haitong Securities serves as the sponsor, with the company aiming to raise 2.95232 billion yuan.

According to the prospectus, Hai'an Rubber's core business encompasses the research and development, production, and sales of giant all-steel radial tires for construction machinery, alongside mining tire operation management services. Giant all-steel radial tires for construction machinery represent premium products within the engineering tire segment, characterized by their massive dimensions and weight (maximum tire outer diameter exceeding 4 meters, maximum weight approaching 6 tons), harsh operating conditions, and extended continuous operation periods. The production technology for these giant all-steel tires presents significant challenges, with only a limited number of tire manufacturers capable of achieving large-scale mass production.

During the reporting period, the company's principal clients included Zijin Mining Group Company Limited, Ural Mining and Metallurgical Company, ABSOLUTE LTD, XCMG Group Engineering Machinery Co., Ltd., Qingdao Taikaiyng Special Tire Co., Ltd., Ansteel Group Corporation, JSC "Stroyservis," LLC New Mining Management Company, and Greenson Supply Chain Management (Hainan) Co., Ltd.

Financially, Hai'an Rubber achieved operating revenues of approximately 1.508 billion yuan, 2.251 billion yuan, and 2.300 billion yuan for the years 2022, 2023, and 2024, respectively. During the same periods, the company recorded net profits of approximately 354 million yuan, 654 million yuan, and 679 million yuan, respectively.