The Hong Kong IPO filing submitted by Hangzhou Relian Group Co., Ltd. (referred to as Relian Group) on February 9, 2026, has expired after six months, as of August 9, 2026. CICC served as the sole sponsor for its listing application.

According to the now-lapsed prospectus, Relian Group is a leading domestic provider and trader of global commodity industrial services. The company sources and sells over 285 types of physical goods, including ferrous metals and raw materials, chemical products, non-ferrous metals, and other categories.

Based on data from Frost & Sullivan, by trading volume in 2024, the company ranked as China's fifth-largest commodity industrial service provider and trader. It was the fourth-largest steel product industrial service provider and trader, and the second-largest steel product export industrial service provider and trader. Additionally, it ranked as China's third-largest iron ore industrial service provider and trader, as well as the third-largest rubber industrial service provider and trader.