In this IPO, CITIC Metal plans to raise 4 billion yuan, and the main fundraising projects are procurement and sales service network construction projects, information construction projects and supplementary working capital.
In terms of shareholding structure, CITIC Metal Group directly holds 99.93% of the company’s shares and is the controlling shareholder of the company. CITIC Group controls 100% equity of the company through CITIC Metal Group and CITIC Yu, and is the actual controller of the company. CITIC is also the largest shareholder of CITIC Securities, a co-sponsor of CITIC Metals.
According to the prospectus, the annual salary of four senior executives of CITIC Metal exceeds 4 million yuan. Among them, Chairman Wu Xianwen’s salary in 2021 was 4,481,600 yuan, General Manager Liu Yanlong’s annual salary was 4,156,500 yuan, Deputy General Manager Guo Aimin’s annual salary was 4,355,100 yuan and Executive Vice President Wang Meng’s annual salary was 4,992,000 yuan.
During the reporting period, the total remuneration of directors, supervisors, senior managers and core technicians of CITIC Metal and its proportion in the issuer’s total profit in each period were 2.60%, 1.74%, 1.73% and 1.08% respectively.
In terms of performance, in 2019 -2021 and the first half of 2022, CITIC Metal achieved operating income of 63.303 billion yuan, 76.942 billion yuan, 112.816 billion yuan and 62.371 billion yuan respectively; The net profit was 712 million yuan, 1.138 billion yuan, 1.823 billion yuan and 1.576 billion yuan respectively. In 2021, CITIC Metal paid a cash dividend of 235 million yuan.
According to the "Pre-IPO" of Leju Finance, CITIC Metal is mainly engaged in the trade of metals and mineral products, and is a leading trader of metals and mineral products in China. Its trading varieties mainly include ferrous metal products such as iron ore and steel, and non-ferrous metal products such as niobium, copper and aluminum. Its main business models include import trade, re-export trade and domestic trade.