双登股份(6960.HK)今日首日挂牌上市，盘初一度涨近60%，报23.18港元。该股招股价为14.51港元，公 开发售部分获3875.25倍超额认购。 双登集团是大数据及通信领域能源存储业务的领先公司，专注于设计、研发、制造和销售储能电池及系 统。截至去年底，服务了五家全球十大通信运营商及设备商、近30%全球百大通信运营商及设备商、以 及中国五大通信运营商及设备商。根据弗若斯特沙利文的数据，2024年，在全球通信及数据中心储能电 池供应商中出货量排名第一，市占率达11.1%。以新增装机容量计算，在全球储能电池供应商中排名第 十二，市场份额达到2.5%。 公司收入主要来自销售储能电池，包括锂离子电池及铅酸电池。去年双登收入近45亿元人民币，同比升 5.6%；母公司拥有人应占溢利3.5亿元人民币。 ...

Group 1 - The core point of the article is that Shuangdeng Co., Ltd. (06960) has successfully listed its shares at a price of HKD 14.51, raising approximately HKD 756 million, with a significant initial price increase of 55.07% to HKD 22.5 [1] - 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 [1] - The company has over ten years of experience serving clients in energy storage applications for communication base stations, data centers, and power storage, positioning it to benefit from the market opportunities presented by the big data era [1] Group 2 - According to Frost & Sullivan, Shuangdeng Group is ranked first in global shipments of energy storage batteries for communication and data centers in 2024, with a market share of 11.1% [1] - As of August 20, 2024, the company has served five of the top ten global telecommunications operators and equipment manufacturers, nearly 30% of the top 100 global telecommunications operators, and all five major telecommunications operators in China [1] - The company also serves 50% of the top ten self-owned data center enterprises in China and 60% of the top ten third-party data center enterprises, including major clients like Alibaba, JD.com, Baidu, Qinhuai Data, and GDS [1]

Group 1 - The company, Shuangdeng Group, has successfully listed its shares at a price of HKD 14.51 per share, issuing a total of 58.557 million shares, resulting in net proceeds of approximately HKD 756 million [1] - As of the latest update, the stock has surged by 55.07%, trading at HKD 22.5 with a transaction volume of HKD 251 million [1] - Shuangdeng Group is a leading company in the energy storage business within the big data and communications sector, focusing on the design, research and development, manufacturing, and sales of energy storage batteries and systems [1] Group 2 - According to Frost & Sullivan, the company is projected to rank first in global shipments of energy storage batteries for communications and data centers in 2024, with a market share of 11.1% [1] - The company has served five of the world's top ten telecommunications operators and equipment manufacturers, as well as nearly 30% of the top 100 global telecommunications operators and equipment manufacturers [1] - Shuangdeng Group has a significant presence in China, servicing 50% of the top ten proprietary data center companies and 60% of the top ten third-party data center companies, including major clients like Alibaba, JD.com, Baidu, Qinhuai Data, and GDS [1]

截至2024年8月20日，公司服务了五家全球十大通信运营商及设备商、近30%全球百大通信运营商及设 备商、以及中国五大通信运营商及设备商，包括中国移动、中国联通、中国电信、中国铁塔等。公司服 务中国十大自有数据中心企业的50%，以及中国十大第三方数据中心企业的60%，主要为阿里巴巴、京 东、百度、秦淮数据、万国数据等数据中心运营商。公司服务主要客户的平均时长超过八年。 智通财经APP获悉，双登股份(06960)首挂上市，公告显示，每股定价14.51港元，共发行5855.7万股股 份，每手500股，所得款项净额约7.56亿港元。截至发稿，涨55.07%，报22.5港元，成交额2.51亿港元。 公开资料显示，双登集团是大数据及通信领域能源存储业务的领先公司。集团专注于设计、研发、制造 和销售储能电池及系统。通过对于通信基站、数据中心、电力储能等领域储能应用客户服务十余年的累 计的丰富经验，使得集团能够在大数据时代充分受益于大数据时代带来的巨大的市场机遇、并持续引领 行业发展。根据弗若斯特沙利文，于2024年，集团在全球通信及数据中心储能电池供应商中出货量排名 第一，市占率达11.1%。 ...

来源：市场资讯 本次发行是工银国际发挥驻港中资金融力量，服务制造业龙头企业高质量发展的重要成果，亦是工银国 际坚持做好"五篇大文章"的重要体现，彰显了工银国际在资本市场服务行业龙头的雄厚实力及领先优 势，工银国际亦藉此展现了团队的专业实力并进一步扩大了在该板块的市场影响力。 （来源：工银国际） 双登股份简介 2025年8月26日，工银国际作为联席账簿管理人及联席牵头经办人，助力双登集团股份有限公司（"双登 股份"或"公司"，股票代码：6960.HK）成功于香港联交所主板上市。 双登股份是大数据及通信领域能源存储业务的领先公司。公司专注于设计、研发、制造和销售储能电池 及系统。截至二零二四年十二月三十一日，公司服务了五家全球十大通信运营商及设备商、近30%全球 百大通信运营商及设备商、以及中国五大通信运营商及设备商。双登股份服务中国十大自有数据中心企 业的80%，以及中国十大第三方数据中心企业的90%。于二零二二年、二零二三年及二零二四年，服务 五大客户的平均时长超过十年。根据弗若斯特沙利文的数据，于二零二四年，公司在全球通信及数据中 心储能电池供货商中出货量排名第一，市占率达11.1%。根据弗若斯特沙利文的数 ...

Core Viewpoint - The IPO of Shuangdeng Co., Ltd. (06960.HK) has a subscription price of HK$14.51, with a one-hand market value of HK$7,255. The subscription rate is extremely low at only 0.02%, marking a historical low, which may lead to significant price increases due to scarcity of shares [1][4]. Group 1: IPO Details - Shuangdeng's IPO pricing is set at HK$14.51, with a one-hand market value of HK$7,255 [1]. - The minimum and maximum number of shares for subscription in Group A is 500 to 300,000, while for Group B it is 400,000 to 2,928,000, with both groups requiring a lottery for allocation [1]. - The public offering portion is fixed at 10%, regardless of subscription multiples, preventing a reallocation mechanism and resulting in a challenging subscription environment [1]. Group 2: Market Sentiment and Performance - The market sentiment is highly optimistic, with predictions of a potential price increase of up to 10 times, driven by recent surges in similar stocks [5]. - The stock has seen a significant increase in interest, with a reported subscription multiple exceeding 3,000 times, indicating strong demand [2][4]. - The performance of Shuangdeng's data center business has surged, with revenue increasing from HK$397 million to HK$873 million year-on-year, now accounting for 46.7% of total revenue [5]. Group 3: Investment Implications - The extremely low subscription rate of 0.02% suggests that shares are scarce, which could lead to speculative trading and price volatility [1][6]. - The company's market capitalization is HK$60.5 billion, with a circulating market value of HK$20.6 billion, indicating potential for significant price movements as it approaches the HK$90 billion threshold for inclusion in the Stock Connect program [4]. - The valuation of Shuangdeng at 16 times earnings is below the industry average, suggesting potential for price appreciation as the renewable energy sector continues to grow [5].

Core Viewpoint - The article highlights the significant growth and investment opportunities in the energy storage sector, particularly focusing on the activities of Guoxuan High-Tech in Morocco and the increasing presence of Chinese lithium battery companies in the region [4][12]. Group 1: Guoxuan High-Tech's Activities - Guoxuan High-Tech has secured two major solar-storage integrated projects in Morocco, with a total investment of approximately $3.5 billion, featuring 400MWh of photovoltaic equipment and 602MWh battery storage systems [5][6]. - The company is also developing a local production base for battery and energy storage systems in Morocco, with a strategic investment agreement signed in June 2024 for a super factory with an annual capacity of 20GWh [9][10]. - Guoxuan High-Tech's 5MWh liquid cooling energy storage system has received EU compliance certification, indicating its readiness for local production and delivery [10][11]. Group 2: Chinese Lithium Battery Companies in Morocco - Several Chinese lithium battery companies, including CATL and Guoxuan High-Tech, are establishing projects in Morocco, driven by favorable trade policies and the country's strategic location [12][14]. - Morocco's automotive industry is rapidly growing, with government initiatives aiming for a production scale of 100,000 electric vehicles by 2025, attracting numerous automotive manufacturers [15][16]. - The country possesses rich mineral resources, particularly phosphates, which are crucial for lithium iron phosphate batteries, making it an attractive location for Chinese companies to secure resource access [16].

Core Viewpoint - The IPO of Shuangdeng Group (06960), a storage battery manufacturer, has seen overwhelming demand, with over 3000 times subscription for its public offering, indicating strong market recognition [1][2] Group 1: IPO Details - Shuangdeng Group's IPO took place from August 18 to 21, with a total of HKD 255.2 billion in margin loans secured by brokers, and public offering proceeds amounting to HKD 84.97 million [1] - The company plans to issue 58.557 million H-shares at a price of HKD 14.5 per share, aiming to raise up to HKD 850 million [1] - The stock is expected to be listed on August 26, with CICC, Huatai International, and Jianyin International serving as joint sponsors [1] Group 2: Business Overview - Shuangdeng Group's main products include lead-acid batteries and lithium-ion batteries, primarily used in communication base station storage, data center storage, and power storage [1] - The company is projected to become the global leader in battery shipments for communication and data center storage by 2024, serving five of the top ten global telecom operators and 80% of China's top ten self-owned data center companies [1][2] Group 3: Financial Performance - The company has shown steady revenue growth, with total revenue increasing year-on-year from 2022 to 2024, and a more than 30% year-on-year revenue growth in the first five months of 2025 [2] - The data center storage business has experienced explosive growth, surpassing the communication base station business in revenue contribution for the first time in early 2025 [2] Group 4: Strategic Support - The IPO received strategic backing from local state-owned assets in Taizhou, highlighting the local government's recognition of the company's industry position [2] - With the booming global demand for storage solutions and strong policy support, Shuangdeng Group is well-positioned to capitalize on the growth opportunities in the storage industry [2]

Group 1 - The chemical industry ETF (516570) led the gains with an increase of 1.99% [2] - The China Securities A50 ETF (560820) rose by 1.83% [2] - The Agricultural 50 ETF (516810) saw an increase of 1.78% [2] Group 2 - The Sci-Tech Innovation 100 Enhanced ETF (588500) was the biggest loser, declining by 2.12% [2] - The Sci-Tech New Energy ETF (588830) fell by 2.08% [2] - The Energy Storage Battery ETF (159566) decreased by 2.02% [2]

Core Viewpoint - The article highlights the advancements in renewable energy, particularly solar and wind power, in Ordos City, showcasing the successful integration of ecological restoration and energy production through innovative projects and technologies [1][3][4]. Group 1: Renewable Energy Development - In the first quarter of this year, China's installed capacity for wind and solar power reached 1.482 billion kilowatts, surpassing that of thermal power for the first time [1]. - The Dalate photovoltaic power application leading base, established in 2017, generates 2 billion kilowatt-hours of green electricity annually, saving 680,000 tons of standard coal and reducing carbon dioxide emissions by approximately 1.65 million tons [3][4]. - The region is expected to reach a new energy installed capacity of 37 million kilowatts by 2030, with a comprehensive governance area of 2.92 million acres [4]. Group 2: Technological Innovations - The introduction of the world's leading 720V high-voltage solid-state sodium salt battery at Jianheng Ao Energy Technology Co., Ltd. marks a significant advancement in energy storage technology, with a cycle life of up to 7,000 times and operational safety in extreme temperatures [6]. - The production line for sodium salt batteries employs advanced automation technology, achieving a good product rate exceeding 85%, with an expected annual output value of 3 billion yuan [6]. Group 3: Research and Development - The establishment of the Beijing University Ordos Energy Research Institute focuses on nine major research directions, including new energy storage and distributed energy [9]. - A zero-carbon airport project led by the research institute is set to be implemented in 2024, aiming to reduce carbon emissions by over 10,000 tons annually [9]. - The region has seen a surge in new research institutions, promoting collaboration between government, industry, academia, and research to facilitate the application of new technologies [9].