Guodian Molybdenum: A Grand Journey Begins—A Feast of Resources and Development

Luoyang Shenglong Mining Group Co., Ltd. (hereinafter referred to as “Shenglong Co.”) has taken an important step in its IPO process, officially launching a public offering. As a leading large-scale molybdenum company in China, Shenglong Co. has long been dedicated to the development and utilization of molybdenum resources. Its main business is at the forefront of the molybdenum industry chain, forming comprehensive advantages such as abundant resource reserves, outstanding mining and beneficiation capabilities, a mature technological system, and a green mine demonstration. The company clearly defines its strategic positioning as “becoming an influential and competitive modern first-class mining enterprise,” leveraging resource security, technological progress, green development, and industrial synergy to serve major national strategies and the high-end transformation of manufacturing.

The Call of the Era for Strategic Resources

The scarcity of molybdenum makes it a key support for global manufacturing upgrades and national defense security. Against the backdrop of accelerated development in new energy, aerospace, and high-end equipment manufacturing, molybdenum’s strategic importance is increasingly prominent. Shenglong Co. focuses on the front end of the molybdenum industry chain, bearing the responsibility of safeguarding national resource security and industrial chain stability, demonstrating irreplaceable strategic value in the global resource balance.

More importantly, molybdenum is not only a performance enhancer for materials but also a cornerstone of national strategy. As the world’s largest producer and consumer of molybdenum, China has explicitly listed molybdenum as an important strategic mineral. Policies emphasize green mine construction, efficient resource utilization, and supply chain security, forming an integrated governance approach of “resources—technology—ecology—security.” Consequently, Shenglong Co.'s strategic position becomes even more prominent: it is not only a resource developer but also a practitioner of national strategy.

Globally, the strategic significance of molybdenum continues to grow. The United States, Canada, Japan, South Korea, Australia, and other countries have included molybdenum in their critical mineral lists and established reserves or control mechanisms to mitigate supply chain risks. This international context means China’s molybdenum industry must not only meet domestic demand but also play a greater role in global resource competition. As a backbone enterprise at the front end of China’s molybdenum industry chain, Shenglong Co. shoulders the dual mission of “stabilizing supply and ensuring security.” Its listing is not only a capital move for corporate development but also a systemic reinforcement of the national strategic resource system. Shenglong Co.'s story is essentially a microcosm of China’s molybdenum industry in the global competitive landscape.

Resource Depth Transforms into Growth Curves

Shenglong Co. holds 4 mining rights and 1 exploration right, with a molybdenum metal reserve of 711,050 tons, accounting for approximately 9.10% of the national reserves. The in-production Nandi Lake molybdenum mine has a mining capacity of 16.5 million tons/year, making it the largest single molybdenum mine in China; the under-construction Song County Angou molybdenum polymetallic deposit has significant potential, with considerable associated metal value. Both mines are located in the national energy and resource base “Luanchuan Nandi Lake—Song County Qiyugou Molybdenum Mine Base,” with obvious strategic advantages due to location and policy support.

Resource advantages are just the foundation; more critical is translating them into performance. From 2022 to 2025, the company achieved operating revenues of 1.911 billion yuan, 1.957 billion yuan, 2.864 billion yuan, and 3.502 billion yuan, respectively, with year-over-year growth rates of 2.41%, 46.30%, and 22.31% for 2023, 2024, and 2025; net profits were 452 million yuan, 725 million yuan, 754 million yuan, and 879 million yuan, respectively, with growth rates of 60.41%, 4.00%, and 16.66% in the same periods. This growth curve vividly illustrates Shenglong Co.'s ability to convert resource endowments into market competitiveness.

The company’s performance is not only reflected in numerical growth but also in quality. Its main business is prominent, revenue proportions are stable, cash flow is healthy, and risk resistance is continuously strengthening. Long-term cooperation with major steel companies such as China Baowu, Shandong Iron and Steel, Hualing Steel, and CITIC Special Steel ensures stable sales channels and bargaining power. Notably, Shenglong Co. has been reducing unit costs through capacity expansion and technological upgrades, enhancing sustainable profitability. This “resources—capacity—performance” logical chain is highly valued by the capital market for its long-term value. The IPO is both an affirmation of past achievements and an early realization of future growth potential.

Technological Innovation Lights Up Green Mines

Shenglong Co. has developed a mature core technology and process system for molybdenum mining and beneficiation, with key indicators such as recovery rates ranking among the top in the industry, and has participated in formulating multiple industry standards. The company leads in intelligent construction; Nandi Lake molybdenum mine is among Henan Province’s first to pass non-coal mine intelligent acceptance, establishing a “5G + big data” smart mine system that realizes digital, intelligent, and safe operations throughout the mining process.

Adhering to the philosophy that “lucid waters and lush mountains are invaluable assets,” Shenglong Co. regards ecological protection as the foundation of corporate development, advancing green governance and resource development in parallel to seek long-term balance between economic benefits and environmental responsibility. Nandi Lake molybdenum mine has been rated as a national green mine, and Longyu Molybdenum was recognized as a provincial green factory, exemplifying this approach. Practices such as energy saving, emission reduction, comprehensive tailings utilization, and ecological restoration have organically integrated mining development with ecological protection, positioning Shenglong Co. at the forefront of industry transformation.

Technological innovation has significantly improved production efficiency and set industry standards. The company holds dozens of national certified patents covering key areas such as mining, beneficiation, intelligent control, and resource recycling. Through intelligent ore blending systems, dispatch platforms, and 3D visualization platforms, Shenglong Co. has achieved transparency and controllability across the entire production process. These technological advantages not only enhance safety but also provide replicable models for the industry. In green development, the company has improved resource utilization by recovering low-grade ores and utilizing multiple metals, reducing environmental impact. The construction of green mines has established a positive image in capital markets and among the public, making Shenglong Co. a representative of “technology-driven + green development.”

Market Depth and Future Blueprint

Shenglong Co. maintains long-term cooperation with major domestic steel enterprises, with mature sales models, stable receivables, and increasing industry influence. The company is actively developing molybdenum smelting and deep-processing businesses, planning to build an annual capacity of 20,000 tons of high-performance molybdenum materials, extending the industry chain, optimizing product structure, and enhancing risk resistance and market adaptability.

As applications of molybdenum in new energy, aerospace, and high-end equipment manufacturing expand, the company is expected to accelerate its international market development after listing, increasing brand influence. By extending the industry chain, Shenglong Co. aims to form a complete “resources—materials—applications” industrial chain, improving responsiveness to downstream demand changes. The raised funds will focus on capacity expansion, technological upgrades, and green mine construction, ensuring that the company maintains governance and ecological responsibility during growth. Shenglong Co.'s future strategy is a blueprint balancing resource security, industrial upgrading, and green development—responding to national strategies and meeting capital market expectations for long-term value.

The synergy of location and policy provides certainty and resilience for expanding reserves, advancing projects, and ecological governance. Shenglong Co.'s strategic layout sketches a future path for high-quality development of China’s molybdenum industry. With resource endowment, performance growth, technological innovation, and green practices, Shenglong Co. will continue to optimize reserves, promote capacity increases scientifically, expand into strategic emerging industries, and seek a second growth curve.

From a capital market perspective, the company has maintained growth in revenue and net profit during the reporting period, with stable customer structure, healthy cash flow, clear capacity planning, and resilience through cycles and expansion certainty. Its practices in intelligent mines and green factories provide a replicable model for high-quality resource enterprise development. Elevating to the national strategic level, Shenglong Co. continuously enhances molybdenum resource supply capacity and efficiency through standardized governance and sustainable development, providing strong support for national mineral resource security and major engineering projects.

Throughout the IPO process, Shenglong Co. is advancing comprehensive improvements in governance, technological innovation, and green development, while collaborating with industry partners and capital markets to promote China’s molybdenum industry toward higher quality, efficiency, and sustainability.