Shares of Shuangdeng Group soared in their Hong Kong trading debut, with an initial premium of 55% to its offer price. The company, a major battery and energy-storage systems maker in China, rode the success of the city’s IPO market, especially in the electric vehicle sector.

Shuangdeng’s chairman Yang Rui highlighted the company’s focus on AI and expanding overseas markets, aiming to leverage its manufacturing advantage. The company plans to capitalize on demand in Southeast Asia and the Middle East to build a globally competitive business.

Hong Kong’s stock exchange has seen a surge in Chinese battery and energy-storage companies going public, with 46 Chinese firms raising $16.5 billion through IPOs in 2025. Companies like Contemporary Amperex Technology have seen strong demand, surpassing mainland-listed shares with their Hong Kong debut.

Shuangdeng Group attracted significant interest from retail investors, with margin-financed bids reaching 3,300 times the available shares. This reflects the intense demand for new stock offerings in Hong Kong’s secondary market.

Shuangdeng plans to use a significant portion of its IPO proceeds to build a lithium-ion battery production facility in Southeast Asia. The company also aims to establish a research and development center in Taizhou, China, and enhance overseas sales and marketing efforts.

Founded in 2011, Shuangdeng is a top supplier of batteries and energy-storage systems for telecoms base stations, holding an 11% global market share. The company serves major Chinese telecom operators and has international operations in Europe and Africa.

The share sale of Shuangdeng Group attracted cornerstone investor Sanshui Venture Capital, state-owned firms, and joint sponsors like China International Capital and Huatai Financial. Company founder Yang Shanji retains majority voting rights post-listing.

Read more at Yahoo Finance: Shuangdeng makes stunning trading debut as EVs, battery makers spur Hong Kong’s IPO boom