- Business
- Jiangsu Innovative Ecological New Materials Limited (2116.HK), incorporated in the Cayman Islands in 2017 and listed on the Hong Kong Stock Exchange in 2018, develops, manufactures, and markets oil refining agents and fuel additives primarily to reduce undesirable emissions and comply with evolving regulatory requirements in the People's Republic of China (PRC), Sudan, and internationally; the company, headquartered at No. 16 West Kaixuan Road, Economic Development Zone, Yixing City, Jiangsu Province, PRC, and a subsidiary of Innovative Green Holdings Limited, offers oil refining aids including desulfurizers, metal passivators, corrosion inhibitors, anti-fouling agents, and other refining additives used to process crude oil, extend equipment life, and lower refinery emissions; fuel additives such as diesel lubricity improvers, diesel anti-wear agents, and gasoline stability additives; and other products including raw material trading. Jiangsu Innovative Ecological New Materials Limited serves state-owned refineries like those of China Petrochemical Corporation (Sinopec), private refineries, and international customers, with operations concentrated in mainland China and limited exports affected by Sudan's civil war. In the first half of 2025, the company reported revenue of RMB87.7 million, up 26.8% year-over-year, driven by higher sales volumes of oil refining agents (RMB53.1 million) and fuel additives (RMB27.4 million) amid improved bidding rankings with Sinopec and expanded private customer sales, alongside a new RMB7.1 million from raw material trading; net profit rose 42.9% to RMB9.8 million, supported by lower raw material costs boosting gross margins to 28.4%; the company secured three new national invention patents, upgraded its sewage treatment system for enhanced environmental compliance, and pursues strategic diversification into processing agents for ethylene, polyolefins, and high-end chemicals in response to PRC refining trends toward "less oil, more chemicals," while optimizing production efficiency and expanding sales channels with multinational partners.