Hithium's Strong Growth Signals New IPO Plans in Hong Kong by Year-End

Hithium's Business Growth and Upcoming IPO

Xiamen Hithium Energy Storage Technology Co. Ltd. is on the verge of relaunching its Hong Kong IPO process. The company originally filed its IPO in March but saw the application lapse due to the common six-month period required for completion. As the energy storage sector continues to thrive, Hithium's success in its international operations points towards a robust demand for energy solutions related to renewable sources.

The Background of Hithium

Founded in 2019, Hithium has quickly ascended to become a prominent player in the energy storage industry, capturing approximately 11% of the global market share. With its core business centered around the production of batteries and energy storage systems, the company primarily serves residential, commercial, and industrial clients. Recent growth statistics show that Hithium's shipments surged by an average of 167% from 2022 to 2024, culminating in an impressive 35.1 GWh last year alone.

Market Dynamics Favoring Hithium

The energy storage market is currently riding a wave of optimism, supported by favorable government policies and burgeoning investor interest. As global initiatives to harness renewable energy gain momentum, the need for effective energy storage solutions has become paramount. Hithium is poised to capitalize on the rising demand stemming from solar and wind farms, among other renewable energy sources that require reliable storage capabilities to manage fluctuations in power generation.

Recent reports indicate that the international demand for Hithium's products has contributed significantly to its expansion, with the company securing numerous international orders from regions including Europe, the United States, and the Middle East. This has positioned Hithium as the second-largest global supplier of energy storage in terms of shipments during the first half of 2025.

Strategic Moves and Global Expansion

Hithium's manufacturing bases in Xiamen and Chongqing have been operating at full capacity, complemented by a new facility under construction in Heze, Shandong, aimed at enhancing production capabilities. In a strategic response to geopolitical tensions, particularly U.S.-China trade relations, Hithium has established its first U.S.-based production facility in Texas, a groundbreaking move for a Chinese enterprise in this sector.

Financially, Hithium reported a 26% increase in revenue last year, reaching 12.9 billion yuan (approximately $1.81 billion). A key factor in this growth was the substantial increase in revenue from higher-margin energy storage systems, which more than doubled to 4.67 billion yuan, growing from 19.3% to 36.2% of the company's total revenue.

The company's international sales also saw a remarkable transition, rising from just 1% of total sales in 2023 to 28.6% last year. A noteworthy achievement in this area was signing a significant contract with Saudi Electricity Co., valued at about 2.6 billion yuan.

Additionally, Hithium has turned a profit for the first time on an adjusted basis, with a reported 318 million yuan in profits for the previous fiscal year. This success positions Hithium favorably as it looks ahead to restarting the IPO process, indicating a readiness to harness its growth potential in a rapidly evolving market.

The Path Ahead

As Hithium prepares for its upcoming IPO, it aims to secure funding to further scale its operations and enhance its product offerings. The anticipated relaunch in Hong Kong reflects not only confidence in continued growth but also the strategic importance of accessing capital markets to support global ambitions. The coming months will be pivotal for Hithium as it navigates this exciting chapter in its corporate journey, responding to evolving market demands and seizing opportunities in the energy storage space.