Hailiang Co. files for HKEX listing; global leader in copper processing, with rapid growth in copper foil and AIDC thermal management

NewTimeSpace News: On 30 August 2026, Zhejiang Hailiang Co., Ltd. filed a listing application with HKEX. The Company is a global supplier of copper-based products, providing advanced thermal management and conductor materials to help global customers improve energy efficiency.

According to the announcement, the Company's products primarily include copper tubes, copper rods, copper bars and copper fittings for HVAC systems and industrial applications (used for heat transfer, power distribution and fluid transmission), ultra-thin copper foil as the conductive layer of lithium-ion batteries and substrate of printed circuit boards (PCBs), and copper-based heat dissipation modules and liquid cooling components that dissipate the heat generated by high-performance servers and processors in distributed AI data centers (AIDC) and other AI applications. The Company has a global footprint with 23 production bases in Asia, Europe, North America and Africa as of 31 May 2026, serving global customers.

According to the key achievements shown in the screenshot, the Company is the world's largest supplier of HVAC and industrial copper-processed products by shipment volume in 2025, and has ranked first globally in copper tube shipments for six consecutive years, with copper-based product shipments exceeding one million tonnes in 2025. In terms of sales globalization, the Company covers more than 100 countries and regions, with overseas revenue accounting for 37.5% of total in 2025 and a global market share of 18.0% in HVAC and industrial copper-processed products. In terms of production globalization, the Company operates 23 production bases worldwide, of which 12 are overseas bases, making it the first Chinese copper supplier to establish copper tube production bases overseas.

In terms of technology, the Company has achieved the production of 3.5 μm copper foil, possesses mass-production capability for solid-state battery copper foil, and has forward-deployed AIDC thermal management products; the Company is the only non-ferrous metal processing company to receive the China Industrial Award, and has participated in (referenced) the drafting of over 80% of national and industry standards for copper tube materials. In terms of financials, the Company's revenue in 2025 was RMB 83.3 billion, with revenue from lithium battery and PCB copper foil growing 102.5% year on year in 2025, and net profit increasing 61.9% year on year in 2025.

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