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China’s US$8 billion power bank giant Anker seeks share listing in Hong Kong
Plan comes amid US scrutiny and a series of product recalls
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Iris Dengin Shenzhen
Chinese maker of portable charging devices Anker Innovations, which went viral last year as the preferred power bank of US President Donald Trump, plans to list in Hong Kong amid US scrutiny and recent product recalls.
Based in Changsha, the capital of central China’s Hunan province, Shenzhen-listed Anker will apply to offer its shares on the main board of the Hong Kong stock exchange, it said in a filing with the Shenzhen bourse, on Wednesday.
The move aimed to “further advance the company’s global strategies” and improve its “comprehensive competitiveness”, it said.
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With a current market capitalisation of 58.9 billion yuan (US$8 billion), Anker is one of the most popular power bank brands on Amazon and other international e-commerce sites. The company garnered global attention on social media when Trump was seen using an Anker power bank during a live-streamed conversation with Tesla CEO Elon Musk in 2024.
The overseas market accounted for over 96.4 per cent of Anker’s total sales in 2024, according to its annual report.
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However, its global ambitions face the pressure of US scrutiny after a lawmaker called for an inquiry into Anker for alleged tariff evasion and potential abuse of trade in September.
Anker’s Hong Kong listing plan comes after the company initiated multiple rounds of product recalls at home and abroad.
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