Beijing Lirr High-temperature Materials Co., Ltd. 2026 Annual Prospectus for Issuance of A-Shares to Specific Targets (Revised Draft)
[Chart: Beijing Lirr Logo]
Stock Abbreviation: Beijing Lirr
Stock Code: 002392
Beijing Lirr High-temperature Materials Co., Ltd.
(Building 4, Xiaotangshan Industrial Park, Xiaotangshan Town, Changping District, Beijing)
Sponsor (Lead Underwriter): Ping An Securities
(Floors 22-25, Tower B, Ping An Financial Center, 5023 Yitian Road, Futian District, Shenzhen)
August 2026
Statement
The Company and all directors, members of the Audit Committee, and senior management warrant that the prospectus and other information disclosure materials do not contain any false records, misleading statements, or major omissions, and assume legal responsibility for their authenticity, accuracy, and completeness.
The person in charge of the Company, the person in charge of accounting work, and the person in charge of the accounting institution guarantee the authenticity and completeness of the financial and accounting information in the prospectus.
Any decision or opinion made by the China Securities Regulatory Commission or the Shenzhen Stock Exchange regarding this issuance does not indicate their guarantee of the authenticity, accuracy, or completeness of the application documents and disclosed information, nor does it constitute a substantive judgment or guarantee of the issuer's profitability, investment value, or investor returns. Any statement to the contrary is a false and untrue representation.
According to the Securities Law, after the securities are issued in accordance with the law, the issuer is responsible for changes in its operations and earnings. Investors shall independently judge the investment value of the issuer, make their own investment decisions, and bear the investment risks arising from changes in the issuer's operations and earnings or fluctuations in securities prices after the issuance.
Notice of Major Matters
The Company specifically reminds investors to pay full attention to the following major matters and to carefully read the chapter on risk factors in this prospectus.
I. Risk of Operating Income Primarily Derived from the Steel Industry
The Company's products are mainly applied in the steel industry. Over the past three years, sales revenue from the steel industry has accounted for an average of over 80% of the Company's total revenue. Therefore, the prosperity of the steel industry has a significant impact on the Company's operating performance, affecting both the recovery speed of accounts receivable and the Company's business growth and profitability. If the steel industry's prosperity declines, the negative impact on the Company's operations will gradually emerge, posing a risk of declining performance due to falling revenue and gross profit margins.
II. Risk of Digesting New Capacity from Fund-Raising Investment Projects
Upon completion of the projects funded by this issuance, the Company will add an annual production capacity of 30,000 tons of composite zirconia and zirconium-based materials for new energy and aerospace applications, and increase overseas refractory material production capacity through the Vietnam Refractory Material Production Base project. If, after these projects are put into operation, the Company encounters a slowdown in downstream market growth, intensified industry competition, major technological substitution, shifts in customer demand preferences, failure to meet customer development expectations, or other major adverse changes, there is a risk that the new capacity cannot be digested.
III. Risk of Product Verification and Market Development for Investment Projects Falling Short of Expectations
The composite zirconia and zirconium-based materials produced by the 30,000-ton project are new products for the Company. While the Company possesses technical strength and customer accumulation in related fields, if the Company fails to pass downstream customer verification in a timely manner, or if the certification cycle is extended or the introduction progress falls short of expectations, there is a risk that the investment projects may not be profitable in the short term, thereby adversely affecting the realization of benefits and the Company's operating performance.