IPO News | 'Distributed Energy Storage System Supplier' Sigen New Energy launches its IPO, scheduled to go public on April 16, with a minimum subscription amount of HKD 32,420

Futu News reported on April 8 that$SIGENERGY (06656.HK)$According to the announcement, the offering will take place from April 8 to April 13. The company plans to globally offer approximately 13,573,900 shares and expects to be listed on April 16.

Company Overview

The company is a global leader in distributed energy storage system (DESS) solutions. It believes that DESS — a product used by tens of millions of households and businesses worldwide for solar power generation, energy storage, and charging — stands out for integrating AI and advanced software technology, providing smarter, safer, and scalable energy solutions.

The company develops and provides innovative renewable energy solutions for households and businesses. Its flagship product, SigenStor, adopts a modular and stackable design that seamlessly integrates photovoltaic inverters, DC charging modules, power conversion systems (PCS), energy storage batteries, and energy management systems (EMS). Through simple stacking or module replacement, users can customize capacity to meet a range of energy needs for residential and commercial use, showcasing significant flexibility and scalability.

Financial Overview

The company's revenue increased from RMB 58.3 million in 2023 to RMB 1,329.8 million in 2024, and further rose to RMB 9,000.5 million in 2025. In 2023, 2024, and 2025, the company recorded gross profits of RMB 18.2 million, RMB 623.6 million, and RMB 4,504.9 million respectively, with corresponding gross profit margins of 31.3%, 46.9%, and 50.1%.

Use of Proceeds

In terms of use of proceeds, Sigen New Energy is expected to receive net proceeds of approximately HKD 4.189 billion from the global offering (assuming the over-allotment option is not exercised, based on an offering price of HKD 324.2). According to the prospectus, Sigen New Energy plans to allocate the proceeds from the global offering as follows:

Approximately 38.0% will be used to further expand the company’s R&D team and enhance its R&D equipment and technology; around 32.0% will be allocated to strengthen the company’s marketing and after-sales services to promote the expansion of its global customer base and business coverage; about 12.0% will go towards expanding production capacity; roughly 9.0% will be used to diversify the company’s product portfolio and extend its commercial and industrial solar-storage-charging solutions; the remaining approximately 9.0% will be used for working capital and general corporate purposes.