Core Viewpoint - The company, Xiamen Hichain Energy Technology Co., Ltd., is expected to restart its IPO process in Hong Kong by the end of the year after its initial application expired due to the six-month deadline, aiming to finance its global expansion and accelerate its energy storage system business growth [1][3]. Group 1: Company Overview - Xiamen Hichain was founded in 2019 and provides energy storage batteries and systems for residential, commercial, and industrial users, holding approximately 11% of the global market share, ranking third in the industry [3]. - The company has experienced a significant annual shipment growth rate of 167% from 2022 to 2024, with a projected delivery scale of 35.1 GWh in 2024 [3]. Group 2: Market Dynamics - The energy storage sector is currently performing well in the capital market, driven by strong growth prospects and policy incentives, leading to increased investor interest [3]. - The global energy storage market is expected to exceed 1,000 GWh annually by 2030, fueled by the rapid construction of renewable energy plants and facilities [3]. Group 3: Financial Performance - In the previous year, the company achieved a revenue of 12.9 billion yuan (approximately 1.81 billion USD), marking a 26% increase from 10.2 billion yuan in 2023 [4]. - The high-margin energy storage system business saw revenue growth from 1.97 billion yuan to 4.67 billion yuan, exceeding 100%, and its share of total revenue increased from 19.3% to 36.2% [4]. - The company's overseas sales surged from 1% in 2023 to 28.6% last year, with a significant supply agreement worth approximately 2.6 billion yuan with Saudi Electricity Co. [4]. - The company achieved a milestone by recording an adjusted net profit of 318 million yuan last year [4].

Core Viewpoint - The company, Xiamen Hichain Energy Technology Co., Ltd., is expected to restart its IPO process in Hong Kong by the end of the year after its initial application expired due to the six-month deadline, aiming to finance its global expansion and accelerate its energy storage system business growth [3][4]. Group 1: Company Overview - Founded in 2019, the company provides energy storage batteries and systems for residential, commercial, and industrial users, holding approximately 11% of the global market share, ranking third in the industry [4]. - The company has experienced a remarkable average annual growth rate of 167% in shipment volume from 2022 to 2024, with a projected delivery scale of 35.1 GWh in 2024 [4]. Group 2: Market Performance - The energy storage sector is currently performing well in the capital market, driven by strong growth prospects and policy incentives, attracting significant investor interest [3]. - The global energy storage market is expected to exceed 1,000 GWh annually by 2030, according to third-party market data cited in the company's prospectus [3]. Group 3: Financial Performance - The company achieved a revenue of 12.9 billion yuan (approximately 1.81 billion USD) last year, a 26% increase from 10.2 billion yuan in 2023, with the high-margin energy storage system business revenue growing over 100% from 1.97 billion yuan to 4.67 billion yuan [5]. - The overseas sales proportion surged from 1% in 2023 to 28.6% last year, with a significant supply agreement worth approximately 2.6 billion yuan with Saudi Electricity Company reached in August [5]. - The company recorded an adjusted net profit of 318 million yuan last year, marking a significant milestone in profitability [5].