HK Stock Market Move | SHUANGDENG (06960) surged over 10% on the first day of listing, the company deeply cultivates the energy storage business in the big data and communication sectors.

SHUANGDENG (06960) rose more than 10% on the day after its listing, with the stock closing up 31.29% the previous day. As of the time of writing, it has risen by 10.24% to 21 Hong Kong dollars, with a trading volume of 2.41 billion Hong Kong dollars. Public information shows that SHUANGDENG Group is a leading company in the energy storage business of big data and communication sectors, focusing on the design, research and development, manufacturing, and sales of energy storage batteries and systems. According to the prospectus citing data from Frost & Sullivan, the company ranks first in terms of shipment volume among global communication and data center energy storage battery suppliers in 2024, with a market share of 11%. The company's customers include five of the top ten global communication operators and equipment providers, nearly 30% of the top 100 global communication operators and equipment providers, and the top five communication operators and equipment providers in China. The company serves 80% of China's top ten self-owned data center companies and 90% of China's top ten third-party data center companies. The company's clients include China Mobile Limited, China United Network Communications, CHINA TOWER, Ericsson, Vodafone, Telenor, Alibaba, JD.com, Baidu, Qinhuai Data, and Wan Guo Data. It is worth mentioning that SHUANGDENG's listing in Hong Kong this time has sparked a buying frenzy during the public offering stage, with its public offering oversubscribed by 3876 times, while the international offering was oversubscribed 18.75 times. Additionally, SHUANGDENG's global offering also received strategic support from local state-owned enterprises in Taizhou, entering as cornerstone investors, which further demonstrates the recognition of its industry position by the local government of Taizhou.