Group 1 - The core viewpoint of the news is that Shuangdeng Group Co., Ltd. successfully completed its initial public offering and listed on the Hong Kong Stock Exchange on August 26, 2025 [2] - CICC, Huatai International, and Jianyin International acted as joint sponsors for the IPO [2] - Zhonglun Law Firm provided comprehensive legal services for the listing project, receiving recognition from clients and various parties involved [2] Group 2 - Shuangdeng Group is a leading company in the energy storage business within the big data and communications sector, focusing on the design, research, manufacturing, and sales of energy storage batteries and systems [3] - As of December 31, 2024, Shuangdeng Group served five of the world's top ten telecommunications operators and equipment manufacturers, nearly 30% of the top 100 global telecommunications operators and equipment manufacturers, as well as all five major telecommunications operators in China [3] - Shuangdeng Group has an average service duration of over ten years for its five major clients in 2022, 2023, and 2024 [3] - According to Frost & Sullivan, Shuangdeng Group ranked first in global shipments among energy storage battery suppliers for telecommunications and data centers in 2024, with a market share of 11.1% [3] - In terms of newly installed capacity, Shuangdeng Group ranked twelfth among global energy storage battery suppliers in 2024, with a market share of 2.5% [3]

Core Viewpoint - Shuangdeng Co., Ltd. (06960.HK) is launching an IPO in Hong Kong, with a total of 58,557,000 H-shares available for sale, priced at HKD 14.51 per share, aiming to raise approximately HKD 19.38 billion for expansion and R&D purposes [1][2][4]. Group 1: IPO Details - The IPO subscription period is from August 18 to August 21, 2025, with the listing date set for August 26, 2025 [2][3]. - The total number of shares issued is 58,557,000 H-shares, with 5,856,000 shares allocated for the Hong Kong offering and 52,701,000 shares for international offering [1][3]. - The expected gross proceeds from the IPO are approximately HKD 8.50 billion, with a net fundraising amount of about HKD 19.38 billion [3][4]. Group 2: Use of Proceeds - Approximately 70% of the net proceeds will be used to expand the production capacity of 8-inch and larger silicon carbide substrates [4]. - About 20% is allocated to enhance R&D capabilities to maintain the company's innovation leadership [4]. - The remaining 10% will be used for working capital and other general corporate purposes [4]. Group 3: Shareholder Structure - Post-IPO, the controlling shareholder, Mr. Yang Shanjin, will hold approximately 67.29% of the voting rights [4][5]. - Public shareholders will hold 14.05% of the shares [4][5]. - The major shareholders include Mr. Yang Shanjin (33.18%), Shuangdeng Investment (26.29%), and other entities [5]. Group 4: Company Background - Founded in 2011, Shuangdeng Co., Ltd. is a leading company in the energy storage business within the big data and communications sector, focusing on the design, R&D, manufacturing, and sales of energy storage batteries and systems [5]. - According to Frost & Sullivan, Shuangdeng ranks first globally in the supply of energy storage batteries for communications and data centers by shipment volume, with a market share of 11.1% in 2024 [5]. - The company ranks twelfth in the global energy storage battery suppliers by newly installed capacity, with a market share of 2.5% [5].

Core Viewpoint - The company, Shuangdeng Co., is conducting an initial public offering (IPO) of H-shares, aiming to raise approximately HKD 756 million to expand its energy storage business in the Southeast Asian market and enhance its research and development capabilities [1] Group 1: IPO Details - Shuangdeng Co. plans to issue 58.557 million H-shares at an offering price of HKD 14.51 per share [1] - The IPO will take place from August 18 to August 21, with the shares expected to be listed on the Hong Kong Stock Exchange on August 26, 2025 [1] Group 2: Company Overview - Shuangdeng Co. is a leading company in the energy storage sector within the big data and communications field, focusing on the design, research and development, manufacturing, and sales of energy storage batteries and systems [1] - According to Frost & Sullivan, Shuangdeng Co. ranks first in global shipments of communication and data center energy storage batteries in 2024, holding a market share of 11.1% [1] Group 3: Use of Proceeds - Approximately 40% of the net proceeds from the IPO will be used to establish lithium-ion battery production facilities in Southeast Asia [1] - About 35% will be allocated to building a research and development center in Taizhou, focusing on battery lifespan, solid-state batteries, sodium-ion batteries, and BMS technology [1] - Approximately 15% will be directed towards enhancing overseas sales and marketing efforts, while 10% will be reserved for working capital and general corporate purposes [1]