Hong Kong Stock Connect Movement | Global New Materials International (06616) closed up over 6% at the end of the day. Recently, Zhejiang Tonglu's annual production of 100,000 tons of artificial synthetic mica project has been ignited and commissioned.

Tongtong Finance APP learns that Global New Material International (06616) closed the day up over 6%. As of the time of reporting, it rose 6.34% to HKD 7.88, with a trading volume of HKD 24.3519 million.

On the news front, recently, according to Securities Times, Global New Material International held a lighting-up ceremony for its 100,000-ton annual synthetic mica project in Tonglu County, Zhejiang Province. This marks the official entry of this capacity expansion, focused on key basic new materials, into the production and operation preparation stage. Global New Material International stated that after the Tonglu project is put into production, it will provide the company’s global supply chain with stable, high-quality synthetic mica core materials, effectively addressing pain points such as high natural mica procurement costs and ESG procurement premiums. This will strengthen autonomous supply capabilities from raw materials, optimize cost structure, and enhance supply chain resilience.

It is understood that currently, the demand gap for high-end synthetic mica has become a clear industry trend, and industry consensus is forming around replacing natural mica with synthetic alternatives. Public information shows that over 70% of global natural mica supply depends on India, and high-grade resources are gradually depleting. Coupled with ESG-related issues in natural mica mining, which continually increase procurement and review costs for international companies, the shortcomings of high supply chain concentration and insufficient stability are becoming more prominent.