Sigenergy jumps 103% in Hong Kong debut on rising energy storage demand
The Shanghai-based firm’s shares closed at HK$659.50, versus its offer price of HK$324.20 after it raised US$560 million from its IPO
Shares of Chinese energy storage system (ESS) maker Sigenergy Technology jumped 103 per cent on their Hong Kong trading debut, as concerns surrounding energy security due to the conflict in the Middle East boost demand for renewable-energy solutions.
The Shanghai-based company’s shares opened at HK$581, versus its offer price of HK$324.20. It climbed further and closed at HK$659.50. The firm raised HK$4.4 billion (US$560 million) from its initial public offering.
On the grey market on Wednesday night, Sigenergy’s shares surged between 78.3 per cent and 84.5 per cent on major brokerage platforms in the city, after the retail tranche was oversubscribed 1,102 times during the five-day share sale period that ended on Monday.
Established in 2022, Sigenergy was founded by Xu Yingtong, a former Huawei Technologies executive who had been with the company for 23 years.
Sigenergy, which offers systems that integrate solar power, battery energy storage and electric vehicle charging, mainly for households, was ranked the world’s largest provider of stackable all-in-one distributed ESS solutions, as measured by product shipments, with a 28.6 per cent market share in 2024, according to its prospectus.
Exports accounted for 99 per cent of Sigenergy’s total revenue, thanks to its sales network spanning 85 countries and regions by the end of 2025.
An ESS refers to a device that converts energy from power-generating systems into a form that can be stored and later converted back into electricity when needed.