XunChong Technology (XCH.US) successfully listed on Nasdaq, with its stock surging nearly 80% on the first day of trading.

Chinese electric vehicle charging company XCH.US successfully listed on the Nasdaq in the United States on Tuesday. The company issued 3.3 million American depositary shares at a price of $6.20 per share, close to the lower end of the previously priced range of $6-8 per share, raising $20.7 million. On the first day of trading, the stock price surged nearly 80% at one point, triggering a circuit breaker. By the close of trading, the stock had risen about 19% to $7.36. XCH.US is headquartered in Beijing, China, with significant operations in Hamburg, Germany. It combines proprietary charging technology, energy storage technology, and support services to provide comprehensive electric vehicle charging solutions. Its products mainly include the C6 series and C7 series of DC fast chargers, as well as the Net Zero Series (NZS) advanced battery integrated DC fast chargers. Founded in 2015, XCH.US had revenue of $42 million for the 12 months ending on March 31, 2024. UP Fintech Holding Ltd. Sponsored ADR Class A is the sole book-running manager for this transaction.