Core Viewpoint - Shuangdeng Co., Ltd. has officially listed on the Hong Kong Stock Exchange, becoming the first stock in the AIDC energy storage sector, with a strong commitment to building an energy ecosystem for intelligent computing centers [2][5]. Company Overview - Shuangdeng Co., Ltd. is a leading provider of energy storage solutions in the data and communication sectors, with a market share of 11.1% in global communication and data center energy storage battery suppliers, ranking first in shipment volume in 2024 [5][7]. - The company aims to leverage the growth of artificial intelligence and the increasing global energy demand to enhance its international competitiveness [5][6]. IPO Details - The IPO price was set at 14.51 HKD per share, with a total of 58.557 million shares issued, raising approximately 756 million HKD. The public offering saw a subscription rate exceeding 3800 times, with only a 0.06% chance of winning a single lot [5][6]. - On the first day of trading, the stock opened over 55% higher and closed with a gain of 31.29%, reaching a market capitalization of nearly 8 billion HKD [2][3]. Business Strategy - The company plans to use the IPO proceeds to build lithium-ion battery production facilities in Southeast Asia and establish a research center in Taizhou to develop advanced battery technologies [6][20]. - Shuangdeng Co. is focusing on expanding its international presence, with recent investments in Singapore and Malaysia, and aims to enhance its global influence and service capabilities [20][21]. Market Position and Growth - Shuangdeng Co. has demonstrated strong financial performance, with consistent profitability over the past three years, and a lower asset-liability ratio compared to industry averages [16]. - The company is positioned to capitalize on the growing demand for energy storage in data centers, with its revenue from this segment surpassing that from communication storage for the first time [14][16]. Future Outlook - The energy storage market is expected to grow significantly, with data centers projected to consume 1.5% of global electricity by 2024, potentially doubling by 2030 [17][18]. - Shuangdeng Co. aims to transition from a backup power role to a primary energy supply role for data centers, aligning with the increasing integration of renewable energy sources [17][18].
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