Baogai New Materials Passes HKEX GEM Listing Hearing on June 25, Ranks First in China's Composite Cable Conduit Market

According to HKEX disclosures on June 25, Baogai New Materials passed the Hong Kong Stock Exchange GEM listing hearing with China International Capital as the sole sponsor. The company ranked first in China's composite material cable conduit cover market by market share in 2025 and has maintained the number-one position in this segment for four consecutive years since 2020, according to the China Composite Materials Industry Association. Founded in 2009, Baogai manufactures composite materials conduit covers, including cable trench covers, drainage grates, and manhole covers for engineering and infrastructure applications.
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