Add New Energy Investment Holdings Group Limited
2623.HK
Hong Kong Stock Exchange4.69
HKD
-0.12
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Add New Energy Investment Holdings Group Limited
2623.HK
(Hong Kong Stock Exchange)
Recent
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4.69
P/E
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Add New Energy Investment Holdings Group Limited, an investment holding company incorporated in the Cayman Islands in 2011 and headquartered in Yishui County, Shandong Province, People's Republic of China, engages in the exploration, mining, processing and sales of iron and ilmenite ores; produces and sells iron concentrates, titanium concentrates and iron pellets to iron pellet makers and steel manufacturers; operates key assets including Yangzhuang Iron Mine, Zhuge Shangyu Ilmenite Mine, Qinjiazhuang Ilmenite Project and Gaozhuang Shangyu Ilmenite Project, all located in Shandong Province; provides ore processing services for iron and other minerals, including overseas Brazil coarse iron powder processing yielding 1.19 million tons of iron concentrate in 2023; trades blended coal, semi-coke, coarse iron powder, coke, spodumene and other minerals primarily in Shandong and Gansu Provinces through subsidiaries such as Tianshan achieving RMB939.3 million revenue in 2023; and develops clean energy projects encompassing wind power, photovoltaic power and solar thermal power as new growth areas. The company, formerly China Zhongsheng Resources Holdings Limited until its name change in July 2016, primarily serves domestic markets in the industrial metals and mining sector with 119 employees as of recent data. In October 2025, Prominence Investment Holding Company Limited acquired approximately 55.66% of the company's shares for HK$80 million, triggering an unconditional mandatory general cash offer at HK$0.4104 per share for remaining shares; the group reported revenue declines to RMB282.1 million in 2024 from RMB1,263.7 million in 2023 amid reduced trading volumes and completed significant mining permit renewals for Yangzhuang Iron Mine in August 2023 and Zhuge Shangyu Ilmenite Mine in November 2023; ongoing developments include RMB500 million investment in Zhuge Shangyu processing plant phase two expected by July 2024, Yangzhuang production capacity expansion to 3.0 million tons annually via technology upgrades, research collaborations with Chinese and Russian academies plus Lanzhou Engineering & Research Institute for titanium industrial chain advancement including sponge titanium, and construction progress on low-carbon environmental projects in Shangyu.