Core Viewpoint - Shuangdeng Group Co., Ltd. successfully listed on the Hong Kong Stock Exchange, becoming the first AIDC supporting energy storage company to go public in Hong Kong, with a significant first-day stock price increase of 55% from the issue price [1] Group 1: Market Response - The IPO attracted global investor attention, with a total subscription amount of HKD 279.1 billion for the public offering, resulting in an oversubscription rate of 3,284 times [2] - Individual investors showed even higher enthusiasm, with a subscription multiple of 3,876 times, leading to a record low allocation rate of 0.02% [3] - International placement also performed strongly, achieving a subscription rate of 18.75 times, attracting 145 renowned domestic and international sovereign long-term funds [4] Group 2: Business Focus - Established in 2011, the company specializes in the design, research and development, manufacturing, and sales of energy storage batteries and systems, focusing on three main areas: communication storage, data centers, and power storage [5] - The company ranks first in global shipments of communication and data center energy storage batteries, with a market share of 11.1% [5] - The market share for communication base station energy storage is 9.2%, while the data center energy storage market share is 16.1%, indicating a strong industry position [6] Group 3: Financial Performance - Revenue figures from 2022 to 2024 are projected to be CNY 4.072 billion, CNY 4.26 billion, and CNY 4.499 billion respectively, with a year-on-year growth of over 34% in the first five months of 2025 [7] - The data center energy storage business has seen explosive growth, with a revenue increase of 120% year-on-year, making it the largest revenue source for the company [7][8] - Overseas revenue is expected to grow from CNY 680 million in 2022 to CNY 890 million in 2024, contributing significantly to business growth [8] Group 4: Technological Strength - As of August 8, 2025, the company holds 353 patents, including 111 invention patents, showcasing its technological capabilities [9] - The company has launched a high-voltage lithium battery system for data centers, utilizing immersion technology to significantly reduce thermal runaway risks [10] - In collaboration with Tsinghua University, the company developed China's first low-temperature intelligent sodium-ion battery, capable of operating in a wide temperature range and achieving over 4,000 cycles [10] Group 5: Global Expansion - The company has established five overseas subsidiaries in the United States, Singapore, and Malaysia, indicating a proactive approach to internationalization [11] - A new company was established in Singapore as the overseas headquarters in 2023, with a factory in Malaysia expected to commence production in 2024 [12] - The company aims to address power supply stability issues in remote areas and islands, with successful projects already implemented in several locations [12] Group 6: Fundraising and Future Plans - The company raised approximately HKD 756 million from the global offering, with plans to allocate about 40% for building lithium-ion battery production facilities in Southeast Asia [12] - Approximately 15% of the funds will be used to enhance overseas sales and marketing efforts, while 35% will be invested in a research and development center in Taizhou [12] - The chairman expressed the company's ambition to become a key player in the energy ecosystem for AIDC intelligent computing centers, as the demand for AI computing power surges [12]
双登股份正式登陆港交所，首日股价飙升55%