After submitting their initial public offering (IPO) materials to the Hong Kong Exchanges and Clearing Limited (HKEX) in July, Double Share Group submitted its IPO prospectus to the HKEX on August 27. It has been reported that many other energy storage companies, such as Haichen Energy Storage and Xinwang Da Power, are also planning to go public in Hong Kong.
After submitting their initial public offering (IPO) materials to the Hong Kong Exchanges and Clearing Limited (HKEX) in July, Double Share Group submitted its IPO prospectus to the HKEX on August 27. It has been reported that many other energy storage companies, such as Haichen Energy Storage and Xinwang Da Power, are also planning to go public in Hong Kong.
Since the second half of 2023, there has been a tightening of the A-share IPO listing review policy, leading to many energy storage companies being blocked from their sprint to IPO. Companies like Honeycomb Energy and Zhuhai Guanyu issued announcements terminating their IPO processes. In August 2024, the CSRC issued relevant documents clarifying and improving the counter-cyclical adjustment mechanism of the primary and secondary markets. This gradually tightened the IPO rhythm, causing listing difficulties for many enterprises including those related to energy storage which have "switched" to the Hong Kong Stock Exchange.
In addition to raising funds, optimizing financial structure, and reducing cash flow pressure; it is believed by industry experts that energy storage companies will also lead to more intense competition within their sector while accelerating integration efforts.