Core Viewpoint - JunDa Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, becoming the first photovoltaic battery company in China to achieve "A+H" listing, marking a significant milestone in the industry [1][4]. Group 1: Listing Details - JunDa Co., Ltd. launched its H-share at a price of HKD 22.15 per share, with a total global offering of approximately 63.43 million shares, where the Hong Kong public offering was oversubscribed by 3.5 times and the international offering by 1.08 times [1][4]. - The company raised approximately HKD 12.92 billion from the global offering, with 75% of the funds allocated for the construction of a 5 GW photovoltaic battery production base in Oman [1][4]. Group 2: Business Transformation - Originally established in 2003 with a focus on automotive parts, JunDa shifted its business model to specialize in photovoltaic battery research, production, and sales after acquiring a 51% stake in JieTai Technology in 2017 [9]. - The company divested its automotive parts business in 2022 and fully acquired JieTai Technology, marking a complete transition to the photovoltaic sector [9]. Group 3: Market Position and Performance - JunDa ranks among the top five global photovoltaic battery manufacturers, holding a 24.7% market share in N-type TOPCon batteries and a 17.9% share in overall photovoltaic batteries as of 2024 [7][11]. - The company reported a significant increase in net profit in 2022, reaching CNY 717 million, but faced a decline in 2023 with a net profit of CNY 816 million, reflecting the industry's downward trend [10][11]. Group 4: Future Outlook and Strategy - JunDa is focusing on expanding its overseas market presence, with 23.73 billion CNY in overseas revenue in the previous year, representing a 171.33% increase and accounting for approximately 23.85% of total revenue [17]. - The company anticipates improvements in the supply-demand environment of the photovoltaic industry starting from 2025, which may lead to a recovery in profitability and performance growth [18].
中国首家“A+H”上市的光伏电池企业诞生了