Beijing Lirr High-temperature Materials Co., Ltd. (hereinafter referred to as the "Company") proposes to issue A shares to specific objects. In accordance with the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law"), the "Administrative Measures for the Registration of Securities Issuances by Listed Companies" (hereinafter referred to as the "Registration Measures"), and other relevant laws, regulations, normative documents, and the "Articles of Association" of the Company, the Company has compiled the "Analysis Report on the Proof of Concept for the 2026 Issuance of A Shares to Specific Objects by Beijing Lirr High-temperature Materials Co., Ltd. (Revised Draft)" (hereinafter referred to as the "Report").
Unless otherwise specified in this Report, the terms used herein shall have the same meaning as in the "Beijing Lirr High-temperature Materials Co., Ltd. 2026 Issuance of A Shares to Specific Objects Plan (Revised Draft)".
I. Background and Objectives of the Issuance
(I) Background of the Issuance
- Rapid Development of Downstream Industries, New Materials Entering New Scenarios, and Broad Market Prospects Zirconia is not only an important raw material for refractory materials but is also widely used in industries such as electronics, ceramics, glass, petrochemicals, building materials, medicine, textiles, aerospace, and nuclear energy. In recent years, with continuous innovation in technology and processes, the application of zirconia in emerging industries such as new energy, aerospace, and consumer electronics has been continuously deepening, expanding application scenarios and bringing new industry development opportunities. Among them, the downstream application fields of composite zirconia mainly include refractory materials, ceramic glazes, electronic ceramics, abrasives, investment casting, and aluminum metal preparation. Zirconium-containing refractory materials are characterized by high melting point, high hardness, low thermal conductivity, low coefficient of thermal expansion, and excellent thermal shock resistance. They have become important high-performance materials for high-temperature industrial applications and are widely used in steel smelting, high-performance glass, and ultra-high temperature furnace fields. Zirconium-based materials for new energy and aerospace not only possess the excellent physical and chemical properties of composite zirconia but also have good insulation and ionic conductivity properties. They are suitable for industries and products such as new energy, aerospace, refractory materials, structural ceramics, functional ceramics, and medicine. With the rapid development of downstream emerging industries, the market prospects for zirconium-based materials for new energy and aerospace are broad.