New Stock News | Shuangdeng Group has submitted an application to the Hong Kong Stock Exchange, ranking first in market share among global communication and data center energy storage battery suppliers.

On August 27, Shuangdeng Group Limited (hereinafter referred to as "Shuangdeng Group") submitted its prospectus to the Hong Kong Stock Exchange. CICC, CCB International, and Huatai International are the joint sponsors. In recent years, the global energy market has been undergoing a profound transformation from fossil fuels to renewable energy. The global trend towards electrification continues to evolve, further driving deep interconnections among new energy, energy storage, and smart grids, promoting the sustainable development of the GREEN ECONOMY and the rapid growth of the global energy storage market. According to Frost & Sullivan, the global cumulative installed capacity for energy storage is expected to increase from 478.5GWh in 2023 to 6393.0GWh in 2023. Shuangdeng Group is a global leader in the energy storage business in the fields of big data and communications, focusing on the design, research and development, manufacturing, and sales of energy storage batteries and systems. Over the past decade, Shuangdeng Group has successfully navigated industry cycles, fully validating the reliability and high quality of its battery services. According to Frost & Sullivan data, in terms of shipments in 2023, Shuangdeng Group ranks first among global suppliers of energy storage batteries for communication and data center industries, holding a market share of 10.4%. As of August 20, 2024, the company has served five of the world's top ten communication operators and equipment vendors, nearly 30% of the top one hundred global communication operators and equipment vendors, as well as China's top five communication operators and equipment vendors, including China Mobile Limited, China United Network Communications, China Telecom Corporation, and CHINA TOWER. The company serves 50% of China's top ten self-owned data center enterprises and 60% of China's top ten third-party data center enterprises, mainly for data center operators such as Alibaba, JD.com, Baidu, Qinhua Data, and Wanguo Data. The average length of service for the company's major clients exceeds eight years. In terms of performance, Shuangdeng Group has also achieved high-speed growth and strong financial performance. In the fiscal years 2021, 2022, 2023, and the three months ended March 31, 2024, the company achieved revenues of approximately RMB 2.44 billion, RMB 4.072 billion, RMB 4.26 billion, and RMB 808 million respectively; during the same periods, gross profits were approximately RMB 183 million, RMB 690 million, RMB 867 million, and RMB 166 million. It is worth noting that the company also turned its net loss of RMB 53.65 million in 2021 into a net profit of RMB 385 million in 2023.