Electrochemical energy storage system solution and technology service provider Haibosi Chuang (688411.SH) intends to publicly issue 44.43 million shares.

Haibochuang (688411.SH) has released its IPO prospectus and intends to list on the Sci-Tech Innovation Board. The company plans to issue 44.4325 million shares, accounting for 25% of the total post-issue share capital. The initial inquiry date is January 13, 2025, and the subscription date is January 16, 2025. The issuer is a leading domestic provider of electrochemical energy storage system solutions and technical services, focusing on the research and development, production, and sales of electrochemical energy storage systems. The company provides a full range of energy storage system products to clients in the entire industry chain of traditional power generation, new energy power generation, smart grids, end-user electricity, and offers one-stop energy storage system solutions. During the reporting period, the company also provided power battery system products to clients in the new energy engineering machinery and new energy vehicle sectors. In the fiscal years 2021, 2022, and 2023, the company achieved net profits attributable to the owners of the parent company of 11.2605 million, 177 million, and 578 million respectively. The net proceeds from the issuance of new shares, after deducting expenses, will be invested in the following projects in order of priority: 1. Construction project for a 2GWh annual production capacity energy storage system, with an investment of 2.99 billion yuan; 2. R&D and industrialization project for energy storage systems, with an investment of 1.64 billion yuan; 3. Digital smart lab construction project, with an investment of 1.22 billion yuan; 4. Marketing and after-sales service network construction project, with an investment of 469.148 million yuan; 5. Supplementary working capital, with an investment of 1.5 billion yuan.