Hithium's Rapid Business Growth Sparks Anticipation for Hong Kong IPO by Year-End

Hithium's Exciting Journey Ahead

Xiamen Hithium Energy Storage Technology Co. Ltd., a rising star in the energy storage industry, is set to reignite its IPO process in Hong Kong in the coming three months. This comes after the expiration of their initial application submitted earlier this year, and the company is now focused on securing funds for its ambitious global expansion plans.

With the energy storage sector experiencing a surge in market interest due to its robust growth prospects and supportive governmental policies, Hithium aims to capitalize on the increasing global demand for energy storage solutions derived from renewable energy sources such as solar and wind power. These storage systems are vital as they enable locations to store excess energy generated during peak production times for later use, addressing the challenges of renewable energy generation fluctuations.

According to market analyses included in Hithium's initial prospectus, the worldwide energy storage market is anticipated to exceed 1,000 GWh annually by 2030. Established in 2019, Hithium has quickly positioned itself as the third-largest provider in its domain, holding about 11% of the global market share. The company's shipments skyrocketed from 2022 to 2024, growing at an astonishing average rate of 167% each year, culminating in a remarkable 35.1 GWh delivered last year.

Hithium's remarkable demand growth is not only limited to the domestic market; they have secured numerous international contracts from regions including Europe, the USA, and the Middle East. This surge in external interest catapulted the company to the second spot globally for energy storage deliveries in the first half of 2025. To support this rapid growth, they are currently operating full capacity at their production facilities located in Xiamen and Chongqing. Moreover, they are actively constructing a new facility in Heze city within Shandong province to further enhance their manufacturing capabilities.

In response to ongoing U.S.-China trade tensions, Hithium has also inaugurated a new facility in Texas, becoming the first Chinese company in the energy storage sector to establish a manufacturing base in the United States. This strategic move is aimed at diversifying their operations and solidifying their position against potential market disruptions.

Last year, Hithium reported a 26% increase in revenue, reaching 12.9 billion Yuan (approximately 1.81 billion US dollars) compared to 10.2 billion Yuan in 2023. Notably, their income from energy storage systems, which typically yield higher profit margins, more than doubled from 1.97 billion Yuan to 4.67 billion Yuan, elevating their contribution to total revenue from 19.3% to a remarkable 36.2%.

The expansion of their international business was highlighted by an impressive leap, with foreign revenues climbing from just 1% in 2023 to 28.6% within the last year. A significant milestone was achieved in August when Hithium signed a major supply contract valued at approximately 2.6 billion Yuan with Saudi Electricity Company. Inclusively, Hithium also reached a pivotal financial milestone last year by posting an adjusted net profit of 318 million Yuan, marking a successful transition into profitability for the company.

Overall, as Hithium looks to relaunch its Hong Kong IPO, it does so with a robust portfolio, substantial market share, and a clear strategy to address the growing global demand for energy storage systems.