Deloitte China assists listing of Chuangxin Industries on SEHK
HK’s largest aluminium IPO year-to-date
Deloitte China supported the listing of Chuangxin Industries Holdings (Chuangxin Industries, stock code: 02788.HK) on the Stock Exchange of Hong Kong (SEHK) on 24 November 2025. Chuangxin Industries’ listing is Hong Kong’s largest IPO in the aluminium sector year-to-date by funds raised.
Chuangxin Industries issued about 500 million shares at HKD10.99 each, raising around HKD5.5 billion (excluding over-allotment option).
Chuangxin Industries had cornerstone investors, including institutions such as HHLRA (affiliated with Hillhouse), China Hongqiao Group, Taikang Life, Glencore AG, HK Greenwoods, and CPIC IMHK, collectively subscribing to nearly 50% of the offered shares.
(From left) Yolanda Huang, senior auditor of Deloitte China’s Audit & Assurance (A&A); Jessica Fang, senior A&A manager; Zhang Yue, executive director and financial director of Chuangxin Industries; Roy Yang, Deloitte China’s A&A manager; Alvin Tse, National HK Offering Leader & Eastern Region Offering Services Leader of Deloitte China’s Capital Market Services Group (CMSG); Cui Lixin, Chairman of the Board of ChuangXin Industries; Cliff Zhao, Eastern Region Offering Services Partner of Deloitte China’s CMSG; Ernest Lee, Deloitte China's Technical partner and a member of the Listing Committee of the SEHK; Zhang Jianxiang, executive director, deputy general manager and joint company secretary of Chuangxin Industries attend the listing ceremony of Chuangxin Industries at Hong Kong Stock Exchange.
(From left) Yoland Huang, Jessica Fang, Roy Yang, Cliff Zhao; Ryan Guo, deputy general manager and CFO of Innovation Group; Cui Lixin, Alvin Tse, Ernest Lee; and Wang Kefang, deputy general manager/ secretary of the board of Innovation New Material attend the listing ceremony of Chuangxin Industries at Hong Kong Stock Exchange.
Client overview
Chuangxin Industries focuses on alumina refining and aluminium smelting within the upstream of the aluminium industry chain. Its industries’ aluminium smelter in Huolinguole, Inner Mongolia, was the 4th-largest production base for electrolytic aluminium in North China and the 12th-largest electrolytic aluminium producer in China by production output in 2024, according to a report from an industry consultant.
Source: Chuangxin Indutries IPO prospectus published on 14 November 2025
Deloitte's role
As a core service institution of this new listing engagement, Deloitte China has been deeply involved in the entire process of offering reporting, fundraising and listing of this client. This successful listing demonstrates Deloitte's professional service capabilities in serving clients in different, diverse capital markets. Our engagement team worked closely with various professional parties, provided high-quality services with rich industry experience and excellent professional capabilities to assist Chuangxin Industries’ listing on the Main Board of the SEHK.
Deloitte China congratulates Chuangxin Industries on its successful listing on the SEHK. We will continue to provide high quality professional services and outstanding resources integration to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.
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