雙登集團股份有限公司 董事會薪酬委員會工作細則 第三條 本細則所稱董事是指在本公司領取薪酬的所有董事；經理及其他高級管理 人員是指董事會聘任的總裁、副總裁、董事會秘書、財務總監。未在公司領取薪酬的 董事不在本細則的考核範圍內。 第二章 人員組成 第四條 薪酬與考核委員會成員由三名以上董事組成，成員應當為單數，其中獨立 非執行董事佔多數。 第五條 薪酬與考核委員由董事長、二分之一以上的獨立非執行董事或全體董事的 三分之一提名，並由全體董事過半數選舉產生或罷免。 1 第六條 薪酬與考核委員會設主任委員（召集人）一名，由獨立非執行董事委員擔 任，負責主持委員會工作，主任委員由薪酬與考核委員會在獨立非執行董事委員中 提名，由薪酬與考核委員的過半數選舉產生或罷免。 第七條 薪酬與考核委員會任期與董事會任期一致，委員任期屆滿，連選可以連 任。期間如有委員不再擔任公司董事職務，自動失去委員資格，並由董事會根據上 述第四條至第六條規定補足委員人數。 第一章 總則 第一條 為進一步建立雙登集團股份有限公司（以下簡稱「公司」）董事、總裁及其他 高級管理人員的薪酬和考核管理制度，完善公司治理結構，根據《中華人民共和國 公司法》、《 ...

雙登集團股份有限公司 董事會提名委員會工作細則 第一條 為規範雙登集團股份有限公司（以下簡稱「公司」）董事和總經理等高級管理 人員的選聘工作，優化董事會組成，完善公司治理結構，根據《中華人民共和國公司 法》（以下簡稱《公司法》）、《香港聯合交易所有限公司證券上市規則》（以下簡稱「《香 港上市規則》」）、《雙登集團股份有限公司章程》（以下簡稱「《公司章程》」）及其他有 關規定，公司董事會特設立董事會提名委員會（以下簡稱「提名委員會」），並制定本 工作細則。 第二條 提名委員會是董事會下設的專門工作機構，主要負責對《公司章程》所規定 的具有提名權的提名人所提名的董事和高級管理人員的任職資格進行選擇和建議， 向董事會報告，對董事會負責。 第二章 人員組成 第一章 總則 第三條 提名委員會成員由至少三名董事組成，成員應當為單數，其中獨立非執行 董事佔多數。 第四條 提名委員會委員由董事長、二分之一以上獨立非執行董事或者全體董事的 三分之一提名，並由董事會選舉產生。 1 第五條 提名委員會設主任委員（召集人）一名，由董事長或一名獨立非執行董事擔 任，負責主持提名委員會工作；主任委員由提名委員會提名，由提名委員會委員的 ...

雙登集團股份有限公司 董事會審計委員會工作細則 第一章 總 則 第一條 為強化雙登集團股份有限公司（以下簡稱「公司」）董事會的功能，提高董事 會的效率，健全董事會的審計評價和監督機制，確保董事會對公司的有效監督，完 善公司治理結構，根據《中華人民共和國公司法》、《香港聯合交易所有限公司證券 上市規則》（以下簡稱「《香港上市規則》」）、《雙登集團股份有限公司章程》（以下簡 稱《公司章程》）及其他有關規定，公司設立董事會審計委員會（以下簡稱「審計委員 會」），並制定本細則。 第二條 審計委員會是董事會下設立的專門工作機構，是由董事組成的委員會，主 要負責內、外部審計的溝通和評價，財務信息及其披露的審閱，重大決策事項監督 和檢查工作，對董事會負責，向董事會報告工作（包括就《香港上市規則》附錄C1《企 業管治守則》的事宜向董事會匯報）。 第二章 人員組成 第三條 審計委員會由三名非執行董事組成，其中獨立非執行董事佔多數。委員中 至少有一名獨立非執行董事為專業會計人士。至少1名獨立非執行董事具備《香港上 市規則》第3.10(2)條所規定的適當專業資格或適當的會計或相關的財務管理專長。 1 第四條 審計委員會委員由董事長 ...

雙登集團股份有限公司 章程 （H股發行後適用） 1 | 第一章 總則 | 3 | | --- | --- | | 第二章 經營宗旨和範圍 | 4 | | 第三章 股份 | 5 | | 第一節 股份發行 | 5 | | 第二節 股份增減和回購 | 6 | | 第三節 股份轉讓 | 7 | | 第四章 股東和股東會 | 8 | | 第一節 股東 | 8 | | 第二節 股東會的一般規定 | 10 | | 第三節 股東會的召集 | 12 | | 第四節 股東會的提案與通知 | 13 | | 第五節 股東會的召開 | 15 | | 第六節 股東會的表決和決議 | 18 | | 第五章 董事會 | 21 | | 第一節 董事 | 21 | | 第二節 董事會 | 24 | | 第六章 高級管理人員 | 27 | | 第七章 監事會 | 29 | | 第一節 監事 | 29 | | 第二節 監事會 | 29 | | 第八章 財務會計制度、利潤分配和審計 | 31 | | 第一節 財務會計制度 | 31 | | 第二節 內部審計 | 32 | | 第三節 會計師事務所的聘任 | 32 | | 第九章 通知和公告 | 32 ...

Core Viewpoint - The IPO of Shuangdeng Co., Ltd. (06960.HK) has a subscription price of HK$14.51, with a one-hand market value of HK$7,255. The subscription rate is extremely low at only 0.02%, marking a historical low, which may lead to significant price increases due to scarcity of shares [1][4]. Group 1: IPO Details - Shuangdeng's IPO pricing is set at HK$14.51, with a one-hand market value of HK$7,255 [1]. - The minimum and maximum number of shares for subscription in Group A is 500 to 300,000, while for Group B it is 400,000 to 2,928,000, with both groups requiring a lottery for allocation [1]. - The public offering portion is fixed at 10%, regardless of subscription multiples, preventing a reallocation mechanism and resulting in a challenging subscription environment [1]. Group 2: Market Sentiment and Performance - The market sentiment is highly optimistic, with predictions of a potential price increase of up to 10 times, driven by recent surges in similar stocks [5]. - The stock has seen a significant increase in interest, with a reported subscription multiple exceeding 3,000 times, indicating strong demand [2][4]. - The performance of Shuangdeng's data center business has surged, with revenue increasing from HK$397 million to HK$873 million year-on-year, now accounting for 46.7% of total revenue [5]. Group 3: Investment Implications - The extremely low subscription rate of 0.02% suggests that shares are scarce, which could lead to speculative trading and price volatility [1][6]. - The company's market capitalization is HK$60.5 billion, with a circulating market value of HK$20.6 billion, indicating potential for significant price movements as it approaches the HK$90 billion threshold for inclusion in the Stock Connect program [4]. - The valuation of Shuangdeng at 16 times earnings is below the industry average, suggesting potential for price appreciation as the renewable energy sector continues to grow [5].

Group 1 - The IPO of Shuangdeng Co., Ltd. (06960.HK) has seen an unprecedented one-hand subscription rate of only 0.02%, marking the lowest in Hong Kong's history, with over 3000 times oversubscription in the public offering [1][2] - The stock's price in the international dark market surged to HKD 85, representing an increase of over 485% from the issue price of HKD 14.51, indicating strong market expectations for its debut [2][4] - Institutional investors have locked up a significant portion of shares, with global long-term funds oversubscribing by more than 20 times, which may lead to reduced liquidity in the market [4][6] Group 2 - Shuangdeng is recognized as the global leader in communication and data center energy storage batteries, with a projected market share of 11.1% in 2024, and has shown consistent revenue growth from 4.072 billion in 2022 to 4.499 billion in 2024 [6][8] - The company's revenue from data center energy storage has increased by nearly 120% year-on-year in the first five months of 2025, surpassing the revenue from communication base stations for the first time [6][8] - The global energy storage market is expected to grow significantly, with cumulative installed capacity projected to rise from 746.8 GWh in 2024 to 6810.1 GWh by 2030, reflecting a compound annual growth rate of 44.3% [6][8] Group 3 - The IPO raised approximately HKD 756 million, with 40% allocated for building a lithium-ion battery factory in Southeast Asia and 35% for establishing a research and development center in Taizhou [8] - The establishment of the factory aims to reduce costs and enhance market proximity, while the R&D center is intended to address technological gaps in the rapidly evolving energy storage sector [8] - The successful IPO and subsequent market performance of Shuangdeng may serve as a barometer for investor confidence in the renewable energy sector amid increasing global carbon neutrality efforts [8]

Core Viewpoint - The global energy transition is reshaping the energy industry, with energy storage technology playing a crucial role in connecting renewable energy and stable power supply. Dual Energy Co., Ltd. (6960.HK) is set to officially list on the Hong Kong Stock Exchange on August 26, 2025, bringing a new force of innovation and growth certainty to the capital market [1]. Industry Opportunities - The global energy revolution is creating a golden growth period for the energy storage industry, with the global energy storage market's installed capacity expected to grow from 39.9 GWh in 2020 to 268.3 GWh in 2024, representing a compound annual growth rate (CAGR) of 61.1%. By 2030, this figure is projected to exceed 1,816.5 GWh, expanding the market space by over seven times [3]. - The increasing share of renewable energy is driving rigid demand, with renewable energy generation expected to exceed 35% in 2024 and over 45% by 2030, highlighting the value of energy storage as a stabilizer [3]. - The construction of 5G and data centers is igniting a new market, with the number of global 5G base stations expected to surge from 1.1 million in 2020 to 6.5 million in 2024, and the demand for data center racks projected to grow from 12.5 million in 2020 to 33.9 million in 2024 [4]. - Technological iterations and cost reductions are promoting commercialization, with advancements in lithium-ion batteries and the emergence of sodium-ion batteries enhancing market competitiveness [5]. - Global carbon neutrality policies are providing favorable conditions for the energy storage sector, with various countries implementing subsidies and tax incentives [5]. Dual Energy Advantages - Dual Energy Co., Ltd. stands out as the "global first brand" in communication and data center energy storage batteries, with a market share of 9.2% in communication base station energy storage batteries and 16.1% in data center energy storage batteries in China [6]. - The company has developed a multi-technology matrix covering lithium-ion, lead-acid, sodium-ion, and solid-state batteries, allowing for differentiated competitiveness [6]. - Continuous R&D investment has led to 353 patents, including 111 invention patents, and collaborations with top universities, establishing a strong technological moat [6]. - A global customer network includes nearly 30 major telecom operators and deep penetration into cloud service providers, creating a competitive barrier through long-term partnerships [6]. - The company has achieved high efficiency in manufacturing and green operations, with production cycles significantly shorter than the industry average and a stable gross margin of 16%-20% [6]. Conclusion - Positioned at the intersection of global energy transition and digital infrastructure explosion, Dual Energy Co., Ltd. aims to become a comprehensive player in the global energy storage market, driven by its mission to enhance energy efficiency and sustainability [7].

Core Viewpoint - The IPO of Shuangdeng Group (06960), a storage battery manufacturer, has seen overwhelming demand, with over 3000 times subscription for its public offering, indicating strong market recognition [1][2] Group 1: IPO Details - Shuangdeng Group's IPO took place from August 18 to 21, with a total of HKD 255.2 billion in margin loans secured by brokers, and public offering proceeds amounting to HKD 84.97 million [1] - The company plans to issue 58.557 million H-shares at a price of HKD 14.5 per share, aiming to raise up to HKD 850 million [1] - The stock is expected to be listed on August 26, with CICC, Huatai International, and Jianyin International serving as joint sponsors [1] Group 2: Business Overview - Shuangdeng Group's main products include lead-acid batteries and lithium-ion batteries, primarily used in communication base station storage, data center storage, and power storage [1] - The company is projected to become the global leader in battery shipments for communication and data center storage by 2024, serving five of the top ten global telecom operators and 80% of China's top ten self-owned data center companies [1][2] Group 3: Financial Performance - The company has shown steady revenue growth, with total revenue increasing year-on-year from 2022 to 2024, and a more than 30% year-on-year revenue growth in the first five months of 2025 [2] - The data center storage business has experienced explosive growth, surpassing the communication base station business in revenue contribution for the first time in early 2025 [2] Group 4: Strategic Support - The IPO received strategic backing from local state-owned assets in Taizhou, highlighting the local government's recognition of the company's industry position [2] - With the booming global demand for storage solutions and strong policy support, Shuangdeng Group is well-positioned to capitalize on the growth opportunities in the storage industry [2]

Group 1 - The core viewpoint of the news is that Shuangdeng Group has successfully completed its IPO subscription, demonstrating strong market recognition with an oversubscription of 3002 times [1] - Shuangdeng Group plans to issue 58.557 million H-shares at a price of HKD 14.5 per share, aiming to raise up to HKD 850 million [1] - The company is expected to be listed on August 26, with major underwriters including CICC, Huatai International, and Jianyin International [1] Group 2 - Shuangdeng Group is the global leader in battery shipments for communication and data center energy storage, with a solid industry position supported by technological barriers and cost control [2] - The company's revenue has shown steady growth, with total revenue increasing year-on-year from 2022 to 2024, and a more than 30% year-on-year revenue growth in the first five months of 2025 [2] - The data center energy storage business has seen explosive growth, surpassing the communication base station business in revenue contribution for the first time in early 2025 [2]

Group 1 - The core viewpoint of the article is that Shuangdeng Group Co., Ltd. is set to become the first AIDC energy storage stock in the Hong Kong market, with strong market recognition reflected in its oversubscribed IPO [1][2] - The company has established itself as a leader in the global communication and data center energy storage battery market, with a projected shipment volume ranking first globally in 2024 and a market share of 11.1% [3][4] - The data center energy storage business has seen significant growth, with revenue increasing by over 120% year-on-year in the first five months of 2025, making it the largest revenue source for the company [2][4] Group 2 - The company’s product portfolio includes lead-acid batteries and lithium-ion batteries, primarily used in communication base station storage, data center storage, and power storage [2][4] - The revenue contribution from the data center business has risen from 18.8% in 2022 to 46.7% in the first five months of 2025, surpassing traditional communication base station business [2][3] - The company employs a full-chain model of "self-produced cells + self-developed battery management systems (BMS)", enhancing cost advantages and reliability, which has led to a strong reputation among major clients [5][6] Group 3 - The company has diversified its technology strategy, focusing on lead-acid for stability, lithium-ion for new opportunities, and sodium-ion for future growth, which supports the data center business [4][5] - The upcoming IPO is seen as a new starting point for global expansion, with plans to invest in strengthening the competitive edge of the data center energy storage business [5][6] - The company aims to provide efficient and safe energy storage solutions to meet the growing demand for AI computing power, thereby enhancing its leadership position in the global energy storage industry [6]