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Sunwoda Joining IPO Wave of Chinese Energy Storage Firms Listing in HK

July 1, 2024 – Sunwoda (300207.SZ) announced plans to issue H-shares and list on the Hong Kong Stock Exchange (HKEX) to advance its globalization strategy and establish an international capital platform. The move makes Sunwoda the latest energy storage company seeking a Hong Kong IPO, drawing significant market attention.

According to its financial reports, Sunwoda specializes in lithium-ion battery R&D and manufacturing, producing battery cells and modules for consumer electronics, electric vehicles (EVs), and energy storage systems (ESS). As part of its global expansion, the company is accelerating projects in Vietnam (Sunwoda Lithium), Hungary, and Thailand. In 2024, Sunwoda’s overseas revenue reached RMB 23.431 billion (USD 3.2 billion), accounting for 41.83% of total revenue.

A Growing Trend: Chinese Battery & Storage Firms Flock to Hong Kong

The announcement came just one day after EVE Energy (300014.SZ) filed for a Hong Kong IPO on June 30, citing similar goals—enhancing its global brand and supporting international growth.

With tightened A-share IPO policies and intensifying industry competition, HKEX has become a key financing hub for Chinese energy storage firms. Since 2025, multiple industry players have launched Hong Kong IPO plans:

  • CATL (300750.SZ) completed its H-share listing on May 20, 2025, raising HKD 41 billion (USD 5.22 billion)—the largest Hong Kong IPO of the year. 90% of the funds will go toward its Hungary battery plant, an investment equivalent to ~2% of Hungary’s GDP.
  • Earlier listings include BYD (1211.HK), CALB (3931.HK), REPT Battero (0666.HK), and ZENERGY (3677.HK).
  • 正在筹备中的本地公司：Hithium

Also in March, Hithium submitted its listing application to the Hong Kong Stock Exchange (HKEX), seeking a main board IPO. Regarding the rationale for choosing HKEX, Hithium stated in its prospectus that a Hong Kong listing would:

  • Provide an international platform to enhance global brand visibility
  • Improve access to global capital markets and optimize capital structure
  • Strengthen market positioning to attract top international talent

Why LEFOR Energy Storage Delivers Premium Solar Solutions Globally

As a Xiamen-based energy storage specialist, LEFOR partners exclusively with tier-1 manufacturers like Hithium and CATL to guarantee product excellence. Our strategic location in Fujian Province enables close collaboration with local industry leaders, while our nationwide supplier network ensures access to top-tier lithium battery cells (including EVE and BYD options).

Three Pillars of Our Quality Promise:
✓ Rigorous Supplier Selection – Only work with China’s top battery manufacturers
✓ Localized Advantage – Leverage Xiamen’s battery manufacturing cluster
✓ Custom Solutions – Support your storage projects with optimal cell configurations