#China #Energy Storage #Xiamen #IPO #Hithium Energy

Hithium's Growth and Upcoming IPO in Hong Kong

Xiamen Hithium Energy Storage Technology Co. Ltd., a prominent player in the energy storage sector, is poised to relaunch its initial public offering (IPO) in Hong Kong in the coming three months. This development follows the expiration of its previous IPO application from earlier this year, which was deemed invalid after the company did not complete the listing within the typical six-month timeframe. This situation is not uncommon, especially among companies making their first attempts at public listings, and is not necessarily a sign of failure. Recent reports indicate that Hithium is capitalizing on the rising global demand for energy storage solutions as the market heats up due to favorable government policies and a growing shift towards renewable energy.

The demand for energy storage systems, which are crucial for harnessing electricity generated from solar panels, wind farms, and other renewable energy sources, is increasingly important. These systems help store excess energy during peak production times for later use when energy production slows. According to market data, the global energy storage market is projected to exceed 1,000 GWh annually by 2030, a substantial increase reflecting the growing adoption of clean energy technologies.

Founded in 2019, Hithium specializes in providing energy storage systems and batteries for residential, commercial, and industrial customers. Currently, it ranks as the third largest global supplier in its sector and holds approximately 11% of the global market share. Hithium's shipments have seen a staggering yearly average growth rate of 167%, culminating in total deliveries of 35.1 GWh last year alone.

The uptick in demand from international markets has enabled Hithium to secure numerous contracts across Europe, the United States, and the Middle East. This surge in orders allowed the company to become the second largest supplier of energy storage systems globally during the first half of 2025. Notably, both of Hithium's manufacturing facilities, located in Xiamen and Chongqing, have been operating at full capacity since March. To boost production capacity further, the company is also in the process of constructing a new facility in Heze, Shandong province.

In response to geopolitical tensions and trade frictions between the U.S. and China, Hithium has proactively established a new production site in Texas, becoming the first Chinese company in this industry to set up manufacturing operations in the U.S.

Financial performance for Hithium has also been commendable. The company's revenue rose by 26% year-over-year to reach 12.9 billion yuan ($1.81 billion) in 2024, up from 10.2 billion yuan in 2023. Special emphasis on energy storage systems has paid off, with revenue from these divisions more than doubling to 4.67 billion yuan, now accounting for 36.2% of total revenue compared to 19.3% the previous year.

Additionally, Hithium has made significant strides in international markets, which grew from just 1% of total sales in 2023 to an impressive 28.6% in the past year. A landmark deal signed in August with Saudi Electricity Co. for approximately 2.6 billion yuan signifies Hithium's commitment to expanding its global footprint. On the profitability front, the company achieved an adjusted profit of 318 million yuan, marking a new financial milestone.

In conclusion, as Hithium gears up to relaunch its IPO, the company's rapid growth and strategic initiatives position it favorably within the booming energy storage market, making it a potential focal point for investors.