智算中心储能主力军双登股份过聆讯，数据中心业务营收同比激增120%

Core Viewpoint - Shuangdeng Group Co., Ltd. is set to officially list on the Hong Kong stock market, with joint sponsors including CICC, Huatai International, and Jianyin International [1] Group 1: Company Overview - Shuangdeng Group, based in Jiangyan District, Taizhou, is a leading enterprise in big data communication storage batteries, having established itself since 2011 [2] - The company has successfully transformed its brand and expanded into data center storage and power storage sectors under the leadership of Chairman Yang Rui [2] - Shuangdeng is recognized as a national manufacturing champion and a "little giant" enterprise, with a projected global market share of 11.1% in communication and data center storage battery shipments by 2024, an increase of 0.7 percentage points from 2023 [2] Group 2: Market Position and Growth - The company has established partnerships with five of the top ten global telecom operators and equipment manufacturers, and serves 80% of China's top ten self-owned data center companies [2] - Shuangdeng has accelerated its global expansion, with new factories in Malaysia and successful projects in Cambodia, Mongolia, and Guinea [3] Group 3: Data Center Storage Business - The data center storage battery market is experiencing rapid growth, driven by the increasing demand for AI and cloud computing, with global data center electricity consumption expected to reach 945 TWh by 2030 [4] - Shuangdeng has positioned itself as a leader in this sector, achieving a market share of 16.1% in global data center storage battery shipments by 2024 [4] Group 4: Financial Performance - Revenue from data center storage increased nearly 120% from RMB 397 million for the five months ending May 31, 2024, to RMB 872 million for the five months ending May 31, 2025, making it a core revenue pillar [5] - Total revenue rose from RMB 13.94 billion for the five months ending May 31, 2024, to RMB 18.67 billion for the five months ending May 31, 2025, reflecting a significant growth trajectory [5] - The company's total revenue for 2022, 2023, and 2024 was RMB 40.72 billion, RMB 42.60 billion, and RMB 44.99 billion, respectively, with a growth rate accelerating to nearly 34% [5]