来源：市场资讯 （来源：真灼财经） 2025年8月18日，国内大数据及通信领域能源存储解决方案领军企业——双登集团股份有限公司（下 称"双登集团"）正式启动港交所主板招股，计划通过公开招股与配售合计发售5856万股股份，招股价定 为14.5港元，预计发售所得款项约7.56亿港元。此次上市由中金公司、华泰国际、建银国际担任保荐 人，股份买卖日期拟定为2025年8月26日，标志着这家深耕储能电池领域的企业正式迈入资本市场新阶 段。 财务表现稳健，估值具备行业竞争力 财务数据显示，双登集团近年营收保持稳定增长态势：2022年、2023年、2024年收益分别为40.73亿 元、42.60亿元、44.99亿元人民币；同期净利润分别为2.81亿元、3.85亿元、3.53亿元人民币，盈利能力 整体稳健。以2024年净利润计算，公司此次上市市盈率为15.6倍，不仅与大市水平差距较小，更显著低 于同业企业，估值具备一定吸引力。 随着此次港交所主板上市的推进，双登集团将借助资本的力量进一步夯实技术壁垒、拓展全球市场版 图。在全球储能需求持续攀升与通信行业数字化转型加速的浪潮下，公司以铅酸电池的市场主导优势为 根基，以锂离子电池的 ...

公开资料显示，双登股份成立于2011年，总部位于江苏泰州，是一家面向"大数据与通信"场景的储能电池供应商，产品路线同时覆盖铅酸与锂离子两条技术 线，核心应用包括通信基站、数据中心及电力储能等，在通信储能领域深耕多年，客户覆盖三大运营商与中国铁塔，以及华为、中兴、爱立信、诺基亚等国 内外设备商。 8月18日，双登股份（06960）（下称"双登股份"）在港交所发布公告宣布开启招股。公告显示，公司拟全球发售5855.7万股股份，其中香港发售股份585.6万 股，国际发售股份5270.1万股，另有878.35万股超额配股权。招股日期为8月18日至8月21日，最高发售价14.51港元，每手买卖单位500股，最低申购金额约 7328港元。 截至二零二二年、二零二三年及二零二四年十二, 們就江蘇福善達提供原材料而產生的費用總額分別約為 人民幣16,496,000元及人民幣20,243,000元。 回顾双登股份的IPO之路，可谓一波三折。最早双登股份申请的并非港交所上市，而是先申请了深交所创业板上市，于2023年6月受理，在回复两轮审核问 询并更新了四次招股书后，于2024年4月9日撤回了申请。而后又转战港股，分别于2024 ...

Core Viewpoint - The company, Shuangdeng Co., Ltd., is planning a global offering of 58.557 million H-shares, aiming to raise approximately HKD 850 million, with a net amount of about HKD 756 million from the offering [1][3]. Group 1: Offering Details - The offering includes 5.856 million shares for public sale in Hong Kong and 52.701 million shares for international sale, with an over-allotment option of approximately 15% (8.7835 million shares) [1][3]. - The subscription period is set from August 18 to August 21, 2025, with a share price of HKD 14.51 and an entry fee of approximately HKD 7,328.17 for a minimum lot of 500 shares [1][3]. Group 2: Company Overview - Shuangdeng Group is a leading enterprise in the energy storage business within the big data and communication sectors, focusing on the design, R&D, manufacturing, and sales of storage batteries and systems [3]. - The company has established deep relationships with major global clients, serving all five of the world's largest telecommunications operators and covering nearly 30% of the top 100 global telecom operators and equipment manufacturers [3]. Group 3: Financial Performance - The company's total revenue is projected to grow steadily from RMB 4.073 billion in 2022 to RMB 4.499 billion in 2024, with a revenue of RMB 1.867 billion recorded in the first five months of 2025, representing a year-on-year increase of nearly 34% [4]. - Revenue from the data center energy storage business saw a significant year-on-year growth of nearly 120% in the first five months of 2025, driven by increasing demand for data storage and processing capabilities [4]. Group 4: Use of Proceeds - Approximately 40% of the net proceeds from the global offering will be allocated to the construction of lithium-ion battery production facilities in Southeast Asia, focusing on batteries for data centers [4]. - About 35% will be invested in the construction of a R&D center in Taizhou, emphasizing the development of battery lifespan enhancement, solid-state batteries, sodium-ion batteries, and BMS technology [4]. - The remaining funds will be used to strengthen overseas sales and marketing efforts (15%) and for working capital and general corporate purposes (10%) [4].

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].

Group 1 - The company, 双登股份, plans to globally offer 58.557 million shares, with 5.856 million shares available in Hong Kong and 52.701 million shares for international sale, along with an over-allotment option of 8.7835 million shares [1] - The subscription period for the shares is from August 18 to August 21, with a maximum offer price of HKD 14.51 per share and an entry fee of approximately HKD 7,328.17 for 500 shares [1] - The total expected fundraising amount is HKD 850 million, with a net amount of HKD 756 million, which will be used for establishing a lithium-ion battery production facility in Southeast Asia, funding a research and development center in 泰州, enhancing overseas sales and marketing, and general corporate purposes [1] Group 2 - The company has introduced cornerstone investors, including 三水创业投资有限公司, who will subscribe to approximately 16.673 million shares at the offer price [1] - 双登股份 is expected to be listed on the main board on August 26, 2025, with China International Capital Corporation Hong Kong Securities Limited, Jianyin International Financial Limited, and Huatai Financial Holdings (Hong Kong) Limited acting as joint sponsors [1] - The company is a leading player 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 3 - The company's net profits for the years ending December 31 for 2022, 2023, and 2024 are projected to be CNY 281 million, CNY 385 million, and CNY 353 million, reflecting year-on-year changes of 624.83%, 37.07%, and -8.27% respectively [2]

Core Viewpoint - The company, Shuangdeng Co., is launching an IPO to issue 58,557,000 H-shares at a price of HKD 14.51 per share, aiming to be listed on the Hong Kong Stock Exchange on August 26. It holds a 11.1% global market share in the communication and data center energy storage battery market, positioning itself as a leader in the AI-driven infrastructure upgrade era [1]. Financial Performance and Business Transformation - Shuangdeng Co. has shown steady revenue growth over the past few years, with revenues of CNY 4.072 billion, CNY 4.260 billion, and CNY 4.499 billion projected for 2022, 2023, and 2024 respectively. In the first five months of 2025, revenue reached CNY 1.867 billion, a 33.93% increase from CNY 1.394 billion in the same period last year [2]. - The company's data center business revenue surged from CNY 765 million in 2022 to CNY 1.392 billion in 2024, achieving a compound annual growth rate of 34.9%, with its revenue share increasing from 18.8% to 31% [2]. - In 2024, Shuangdeng Co. is expected to capture 16.1% of the global data center energy storage market, maintaining its position as the leading Chinese enterprise in this sector [2]. Business Performance in 2025 - The data center business is performing exceptionally well, with revenue in the first five months of 2025 reaching CNY 8.73 billion, surpassing the total revenue for 2022, and accounting for 46.7% of total revenue, exceeding traditional communication base station business for the first time [4]. Technological Advancements and Competitive Edge - Shuangdeng Co. has established a comprehensive technology chain from battery cell production to battery management systems (BMS) and energy management systems (EMS), optimizing product performance and safety while enhancing cost control and responsiveness to customer needs [6]. - The company is advancing in both traditional lead-acid batteries and cutting-edge lithium and sodium battery technologies, having successfully developed various lithium battery models and a sodium-ion battery system for communication base stations [6][7]. - The company has also partnered with Tsinghua University to develop the first low-temperature intelligent sodium-ion battery in China, which has been applied in various regions and is being piloted in international markets [7][8]. Market Position and Future Outlook - Shuangdeng Co. is well-positioned to meet the increasing demands for energy density, cycle life, cost, and low-temperature performance in data centers, with expectations for rising shares of lithium and sodium batteries in the market [8]. - The upcoming IPO is not only a significant milestone for the company but also a reflection of the global AI computing infrastructure upgrade trend, solidifying its unique value in the rapidly growing AIDC sector [9].

双登股份(06960.HK)发布公告，公司拟全球发售5855.70万股股份，其中香港发售股份585.60万股，国际 发售股份5270.10万股，另有878.35万股超额配股权。招股日期为8月18日至8月21日，最高发售价14.51 港元，每手买卖单位500股，入场费约7328.17港元。 全球发售预计募资总额为8.50亿港元，募资净额7.56亿港元，募资用途为用作于东南亚兴建一个锂离子 电池生产设施；用于资助于泰州建立一个研发中心；用作加强公司的海外销售及营销；用作拨付营运资 金及其他一般企业用途。 公司引入三水创业投资有限公司等基石投资者，将以发售价共认购数量下限约1667.30万股可购买发售 的股份。 双登股份预计于2025年8月26日在主板上市，中国国际金融香港证券有限公司、建银国际金融有限公 司、华泰金融控股（香港）有限公司为联席保荐人。 公司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。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 公司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。 ...

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]

Core Viewpoint - The company, Shuangdeng Co., Ltd., is set to launch an initial public offering (IPO) of 58.57 million H-shares, with a share price of HKD 14.51, aiming to raise approximately HKD 756 million for various strategic investments in battery production and R&D [1][3]. Group 1: IPO Details - The IPO will take place from August 18 to August 21, 2025, with 10% of shares allocated for Hong Kong and 90% for international investors, plus a 15% over-allotment option [1]. - The expected trading commencement date for the H-shares is August 26, 2025 [1]. Group 2: Investment and Use of Proceeds - The net proceeds from the global offering are estimated to be around HKD 756 million, with 40% allocated for building a lithium-ion battery production facility in Southeast Asia [3]. - Specific allocations include approximately 8.8% for construction costs of the main production facility, 28% for purchasing and installing manufacturing equipment, and 2.4% for management and employee-related expenses [3]. - 35% of the net proceeds will fund a research and development center in Taizhou, focusing on enhancing battery lifespan, solid-state batteries, sodium-ion batteries, and BMS technology [3]. - 15% of the net proceeds will strengthen overseas sales and marketing efforts, including costs for leasing properties and hiring personnel [3]. - 10% of the net proceeds will be used for working capital and other general corporate purposes [3]. Group 3: Market Position and Financial Performance - The company is a leading player in the energy storage business within the big data and communications sectors, ranking first in global shipments of communication and data center energy storage batteries with a market share of 11.1% as of 2024 [1]. - Revenue growth is evident, with an increase from RMB 4.073 billion in 2022 to RMB 4.499 billion in 2024, driven by significant synergies between R&D spending and financial performance [4].

Core Viewpoint - The company, Shuangdeng Co., Ltd., is set to launch an IPO for 58.557 million H-shares at a price of HKD 14.51 per share, with a significant portion of the proceeds aimed at expanding its lithium-ion battery production and R&D capabilities in Southeast Asia and Taizhou [1][3]. Group 1: IPO Details - The IPO will take place from August 18 to August 21, 2025, with approximately 10% of shares allocated for Hong Kong and 90% for international investors, plus a 15% over-allotment option [1]. - The expected net proceeds from the global offering are approximately HKD 756 million, assuming the over-allotment option is not exercised [3]. Group 2: Use of Proceeds - About 40% of the net proceeds will be used to establish a lithium-ion battery production facility in Southeast Asia, with specific allocations for construction costs and equipment purchases [3]. - Approximately 35% of the net proceeds will fund a research and development center in Taizhou, focusing on enhancing battery lifespan, solid-state batteries, sodium-ion batteries, and BMS technology [3]. - Around 15% of the net proceeds will strengthen the company's overseas sales and marketing efforts, including hiring personnel and promotional activities [3]. Group 3: Market Position and Financial Performance - The company is a leading player in the energy storage business within the big data and communications sectors, ranking first in global shipments of communication and data center energy storage batteries with a market share of 11.1% as of 2024 [1]. - Revenue growth has been significant, increasing from RMB 4.073 billion in 2022 to RMB 4.499 billion in 2024, driven by increased R&D spending and alignment with market demand [4].