Shuangdeng makes stunning trading debut as EVs, battery makers spur Hong Kong's IPO boom
Shares of Shuangdeng Group, one of China's largest makers of batteries and energy-storage systems, soar in their Hong Kong trading debut on Tuesday, as the city's buoyant initial public offering (IPO) market continues to mint successful listings, especially for companies in the electric vehicle boom.
Trading under the stock sign 6960, Shuangdeng first changed hands at HK$22.50, a premium of 55 per cent to its offer price of HK$14.51 per share.
"We are lucky to be riding two tremendous waves amid these turbulent times: the first is the wave of artificial intelligence, and the second is the goal of expanding overseas," said Shuangdeng's chairman Yang Rui, before striking a ceremonial gong to mark the start of trading. "We will leverage our first-mover advantage in manufacturing and make use of the demand in Southeast Asia and the Middle East regions to build a globally competitive busines]."
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The Hong Kong stock exchange, which leads the global fundraising league table this year on the back of blockbuster deals, is attracting a slew of Chinese battery and energy-storage companies amid strong investor demand. In total, 46 Chinese companies have raised US$16.5 billion through Hong Kong IPOs in 2025, according to Bloomberg data.
Contemporary Amperex Technology, the world's largest battery maker, raised US$4.6 billion in a secondary listing in May, marking the city's biggest fundraising deal this year. Its Hong Kong-listed shares traded higher than its mainland-listed shares, showing enthusiastic international demand.
Battery supplier Sunwoda and energy-system firm Xiamen Hithium Energy Storage have also filed for Hong Kong listings. Sungrow Power Supply
Shuangdeng Group's chairman Yang Rui (fourth from the right) and China International Capital's deputy party secretary Wang Shuguang (second from the right) during its trading debut in Hong Kong on August 26, 2025. Photo: Julie Zhang alt=Shuangdeng Group's chairman Yang Rui (fourth from the right) and China International Capital's deputy party secretary Wang Shuguang (second from the right) during its trading debut in Hong Kong on August 26, 2025. Photo: Julie Zhang>
Retail investors lodged margin‑financed bids for about 3,300 times the number of Shuangdeng shares that were available, according to data compiled by Futu Securities on Monday.
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