Han Kun Law Offices LLP ("Han Kun Hong Kong") acted as the Hong Kong and U.S. legal advisors to the Sole Sponsor and the Underwriters in connection with the initial public offering, and the listing of 68,118,700 H shares of Red Avenue New Materials Group Co., Ltd. ("Red Avenue", stock code: 9607) on the Main Board of The Stock Exchange of Hong Kong Limited, supporting Red Avenue's successful listing in the Hong Kong capital market and the establishment of an "A+H" dual fundraising platform. Haitong International Capital Limited acted as the Sole Sponsor, and Haitong International Securities Company Limited acted as the Sponsor-Overall Coordinator.
Red Avenue is a comprehensive new materials provider in the PRC primarily engaged in the R&D, production, marketing, sales and distribution of new materials, the A Shares of which have been listed on the Shanghai Stock Exchange since 2018 (stock code: 603650). The product portfolio of Red Avenue covers rubber additives for tyres and other chemical products, electronic materials and fully biodegradable materials, which are widely used in automobile tyres, semiconductors and display panels. With respect to rubber additives for tyres and other chemical products, according to Frost & Sullivan, Red Avenue ranked first in sales revenue in both the global and PRC phenolic resins rubber additives for tyres markets in FY2025. With respect to electronic materials, Red Avenue ranked first, in terms of sales revenue, among local suppliers in both the PRC semiconductor photoresist market and the PRC TFT array photoresist market in FY2025.
