Jinlongyu Group Co., Ltd.: history, ownership, mission, how it works & makes money

From its founding on April 12, 1996 in Shenzhen to a public listing on the Shenzhen Stock Exchange in July 2017 (002882.SZ), Jinlongyu Group has grown into a specialist in wires, cables and emerging energy materials-employing about 840 people by 2025 and commanding a market capitalization of 13.38 billion yuan as of December 12, 2025; the company reported 2024 revenue of 3.68 billion yuan with net income of 118.63 million yuan and invested 82.2 million yuan in R&D for solid‑state battery materials, while the first three quarters of 2025 saw operating revenue of 3.733 billion yuan, a year‑on‑year jump of 41.34% and a shareholder net profit of 105 million yuan-moves underscored by a November 2024 secondary raise of 368 million yuan, an April 2025 plan to build a 1.2 billion yuan solid‑state battery materials production base in Huizhou, the October 2025 establishment of Jinlongyu New Energy (Huidong) Co., Ltd. with 100 million yuan registered capital, and the September 2025 cancellation of a proposed 5.32% stake acquisition that preserved the company's existing ownership and governance-details that set the stage for how Jinlongyu operates, makes money and is positioning itself in wires, cables and the new energy supply chain.

Jinlongyu Group Co., Ltd. (002882.SZ): Intro

• Founded: April 12, 1996 (Shenzhen)
• IPO: July 2017 - Shenzhen Stock Exchange, 002882.SZ
• Employees: ~840 (2025)
• Market cap: 13.38 billion yuan (Dec 12, 2025)

• 1996: Company founded in Shenzhen to produce wire and cable products for industrial, construction and power sectors.
• 2017: Listed on Shenzhen Stock Exchange (002882.SZ), enabling broader capital access and accelerated expansion.
• 2020s: Gradual diversification into electrical equipment and adjacent materials markets driven by demand from power, EV and infrastructure projects.
• April 2025: Announced 1.2 billion yuan investment to establish a solid-state battery materials production base in Huizhou, Guangdong - marking a strategic move into new energy materials.
• October 2025: Established Jinlongyu New Energy (Huidong) Co., Ltd. with 100 million yuan registered capital to operationalize the solid-state battery business.

• Publicly traded entity: Jinlongyu Group Co., Ltd. (002882.SZ) - majority shareholdings split among institutional investors, management and retail shareholders typical of A-share issuers (specific shareholding percentages vary by reporting period).
• Key subsidiaries: Manufacturing and distribution units for wire & cable and electrical components; Jinlongyu New Energy (Huidong) for solid-state battery materials.

• Core mission: Provide reliable wire, cable and electrical component solutions while expanding into high-value new energy material segments.
• Strategic priorities: Technology-driven product upgrades, vertical integration of supply chains for battery materials, geographic expansion in Guangdong (Huizhou, Huidong) and efficiency improvements across manufacturing.

• Primary revenue streams:
  • Wire and cable sales - power cables, control cables, communication cables to construction, utilities and industrial clients.
  • Electrical equipment and parts - components and assemblies sold to OEMs and distributors.
  • New energy materials (emerging) - solid-state battery materials production planned after 2025 investments, expected to generate additional high-margin revenue as capacity comes online.
• Revenue drivers: Contract manufacturing volumes, project-based large orders (infrastructure and utilities), downstream OEM partnerships, and new product adoption in EV/battery markets.
• Margin levers: Scale economies in cable manufacturing, vertical integration of raw materials, and higher-value materials from the solid-state battery initiative.

Jinlongyu Group Co., Ltd. (002882.SZ): History

• Market capitalization: 13.38 billion yuan as of December 12, 2025.
• November 2024: raised 368 million yuan via a post-IPO secondary offering; lead investor was Shenzhen Gaoshen Asset Management.
• September 2025: proposed acquisition of a 5.32% stake by Kangli No.1 Private Securities Investment Fund (managed by Shenzhen Golden Seal Asset Management Co., Ltd.) was canceled, leaving the ownership structure unchanged.
• Governance continuity preserved after the canceled 2025 stake acquisition.

• Management roles: Wenliang Zhao oversees financial operations and strategic financial planning; Yonghua Zhou leads R&D, technological advancement, and product quality assurance.
• Ownership impact: the failed 2025 acquisition maintained existing control and governance, important for continuity of strategy and investor relations.

Jinlongyu Group Co., Ltd. (002882.SZ): Ownership Structure

• Primary listing: Shenzhen Stock Exchange (002882.SZ).
• Shareholder base: combination of strategic/industrial shareholders, institutional investors and retail free float.
• Governance emphasis: board oversight, independent directors and disclosure consistent with A-share market practice.

• Safety & Reliability: product design and testing standards targeted to meet or exceed international norms.
• Innovation: sustained investment in R&D to develop advanced materials and product families.
• Sustainability: development of low-smoke, halogen-free and flame-retardant cables to reduce environmental and health impacts.
• Customer focus: delivering product variants that serve industrial, construction, energy and specialty markets.
• Integrity & Transparency: governance and reporting designed to build stakeholder trust.
• Continuous improvement: investments in operational efficiency and employee development.

• Material innovation: advancing cable performance and safety, including R&D into solid-state battery materials (82.2M yuan in 2024).
• Market diversification: serving construction, power utilities, industrial equipment and specialty segments to smooth demand cycles.
• Quality and certification: achieving international standards to support exports and higher-margin projects.
• Operational efficiency: investing in process improvements and workforce upskilling to protect margins amid commodity cost volatility.

Jinlongyu Group Co., Ltd. (002882.SZ): Mission and Values

• Centralized decision-making: board and executive team guide capital allocation, M&A, and strategic R&D priorities.
• Operational hubs: manufacturing, R&D and logistics concentrated at Jinlongyu Industrial Park (Shenzhen) for tight quality control and vertical integration.
• Sales & distribution: hybrid model combining direct sales teams, OEM contracts, and third‑party distributors domestically and overseas.
• Customer service & technical support: dedicated teams for pre-sales technical evaluation, after-sales troubleshooting and customized solutions.

• Primary inputs: copper cathodes/foil precursors, chemical intermediates for electrolytes, ceramic and polymer precursors for solid-state components.
• Quality controls: ISO-aligned procedures, in-line thickness/impurity monitoring for foil, and batch traceability for chemical products.
• Capacity: consolidated production footprint at Jinlongyu Industrial Park supports multi-line throughput for foil rolling, coating and electrolyte synthesis.

• Focus areas: high‑conductivity copper foil, electrolyte additives, solid‑state electrolyte materials, and scaleable manufacturing processes.
• Investment: sustained R&D spend to maintain technological edge and support industry certifications and IP generation.
• Collaborations: partnerships with universities, research institutes and battery OEMs for co-development projects.

• Customer segments: EV battery manufacturers, consumer electronics suppliers, industrial energy storage OEMs.
• Geographic mix: majority domestic revenue with growing export share to Southeast Asia, Europe and North America.
• After-sales: regional service teams providing technical troubleshooting, material compatibility testing and training.

• Listed on Shenzhen Stock Exchange: 002882.SZ.
• Ownership mix: institutional investors, corporate insiders and public float; board-led strategic oversight.
• Compliance: regular disclosure per SZSE rules, internal controls to manage supply chain and environmental compliance.

• Scale-up of solid-state material lines to capture higher-margin next‑gen battery demand.
• Vertical integration and supply agreements with large OEMs to secure volume and price stability.
• Export expansion: leveraging distributor partnerships to increase international revenue share.

Jinlongyu Group Co., Ltd. (002882.SZ): How It Works

• Public status: Listed on the Shenzhen Stock Exchange (ticker: 002882.SZ).
• Primary business lines: wire & cable manufacturing, polymer materials compounding, and emerging battery materials initiatives.
• Ownership structure: publicly traded with a mix of founder/management holdings and institutional investors (ordinary free-float on exchange).

• Product sales: Core revenue comes from sales of wire and cable products-traditional power and communication cables plus specialty LSHF and flame-retardant cables sold into construction, industrial and infrastructure projects.
• Materials and compounds: Sales of polymer compounds and insulated materials used both internally and sold to third parties.
• Exports: International shipments to markets such as Singapore, Australia and Hong Kong contribute incremental revenue and margin diversification.
• Strategic investment/new business: In April 2025 the company announced a 1.2 billion yuan investment to build a solid-state battery materials production base, creating a potential new energy-sector revenue stream.
• Other services: Project and OEM supply contracts, customized cable solutions and value-added processing for large industrial customers.

• High-volume commodity cables drive top-line scale; specialty LSHF and flame-retardant cables often carry higher ASPs and margins.
• Export sales moderate domestic cyclicality; foreign markets like Singapore, Australia and Hong Kong often demand higher-spec products with better margins.
• Vertical integration into polymer compounding reduces input cost volatility and improves gross margin capture.
• Large-scale capital projects and the new 1.2 billion yuan solid-state battery materials base (announced April 2025) are strategic bets to access higher-growth energy-materials margins over time.

• Manufacturing: multiple production lines for copper/aluminum conductors, insulation extrusion and jacketing; polymer compounding facilities support internal supply.
• Distribution: direct sales to construction contractors, industrial OEMs and utilities; export channels and distributors cover overseas markets.
• R&D & quality: product certification for flame-retardant and LSHF standards to meet building-code and safety requirements in both domestic and export markets.

• Diversified product portfolio reduces dependence on any single market segment and enables cross-selling (cables + materials).
• Investment into solid-state battery materials positions the company to enter the higher-growth energy-materials value chain-1.2 billion yuan capex indicates material scale and a multi-year timeline to commercialization.
• Export expansion to developed markets (Singapore, Australia, Hong Kong) supports premium pricing for certified products.

Jinlongyu Group Co., Ltd. (002882.SZ): How It Makes Money

• Core revenue streams: production and sale of electrical connectors, relay components, and related electrical parts to automotive, industrial, and consumer electronics clients.
• New energy transition: investment and subsidiaries focused on solid-state battery materials to access fast-growing energy storage markets.
• Service and customization: engineering, testing, and bespoke component production for OEM contracts, supporting recurring revenue and customer stickiness.

• How it captures margin: scale manufacturing of precision electrical parts, vertical integration of key components, and moving into higher-value battery materials to improve gross margin mix.
• Strategic moves supporting growth: 1.2 billion yuan commitment to solid-state battery materials and creation of a dedicated new-energy subsidiary signal pivot toward higher-growth, higher-technology product lines.
• Risk/mitigation: stable ownership after the cancelled stake acquisition in September 2025 maintains strategic continuity while enabling planned investments to proceed.