Senior Material's (06067) initial public offering subscription period concluded on June 17th.

The company planned to issue 150 million H shares in its Hong Kong public offering, with a maximum offer price of HK$8.98 per share. This would raise up to HK$1.34 billion, with a board lot size of 500 shares requiring an initial investment of approximately HK$4,535.3.

Senior Material is expected to commence trading on the Hong Kong Stock Exchange on June 23rd, with China Securities International Corporate Finance acting as the sole sponsor.

As of the afternoon of June 16th, the public offering portion had attracted margin financing subscriptions totalling HK$40.8 billion. Based on the public offering size of HK$1.34 billion, this represents an oversubscription rate of approximately 303.5 times.

The offering secured cornerstone investments from a consortium including Fullgoal Fund, GF Fund Management, Taikang Life Insurance, Harvest International Premium Value (Secondary Market) Fund SPC acting for Harvest Synergy SP, Springs Capital (Hong Kong), Gaoteng Enterprise Management, CICC Financial Trading Limited (for OTC swaps), Sunwoda Treasury Center, Jinko Energy Investment, Mondeomax, Bona Star, Shen Sanhe, SHEEN NATION, and Chen Feng. Their total investment amounted to $77.52 million.

The prospectus reveals that Senior Material is a manufacturer of lithium-ion battery separators. Founded in 2003, the company has accumulated over 20 years of industry experience in the R&D, production, and sales of these separators.

As a core component of lithium-ion batteries, the separator prevents physical contact between electrodes while serving as a carrier for the electrolyte to facilitate ion conduction. It directly impacts the battery's quality, safety, and production cost.

The company excels across numerous critical performance metrics for battery separators, including thickness, porosity, thermal shrinkage, air permeability, and puncture strength.

Leveraging its technical expertise and commitment to quality, Senior Material supplies world-leading lithium-ion battery manufacturers such as LG Energy Solution, Samsung SDI, Envision AESC, Murata, SK On, SAFT, Contemporary Amperex Technology Co. Limited (CATL), BYD, Gotion High-tech, CALB, Eve Energy, and Sunwoda.

According to Frost & Sullivan, the company was the first Chinese enterprise to master dry-process uniaxial stretching technology for lithium-ion battery separators.

Frost & Sullivan data also indicates that the company's lithium-ion battery separator shipment volume has ranked second globally for six consecutive years, with its global market share increasing from 11.0% in 2020 to 11.6% in 2025.

Within the Chinese domestic battery separator market, the group held approximately a 13.5% share in 2025, ranking second.

Senior Material is one of the first and few companies in China with the technical capability to produce dry-process, wet-process, and coated lithium-ion battery separators.

By shipment volume, the company held about a 21.5% share of the global dry-process battery separator market in 2025, ranking first globally. Its share of the global wet-process battery separator market was approximately 9.0%, placing it fourth globally.