HONG KONG (Realist English). Shares of Shuangdeng Group, one of China’s biggest manufacturers of batteries and energy-storage systems, soared on their debut in Hong Kong on Tuesday, underscoring the city’s buoyant initial public offering market.
Listed under the ticker 6960, Shuangdeng opened at HK$22.50 — a 55% jump above its offer price of HK$14.51. Chairman Yang Rui, striking the ceremonial gong to mark the start of trading, said the company was “riding two tremendous waves amid these turbulent times: the first is the wave of artificial intelligence, and the second is the goal of expanding overseas.” He added that Shuangdeng aims to leverage its manufacturing expertise and growing demand in Southeast Asia and the Middle East to build a globally competitive business.
Hong Kong has become the world’s top fundraising hub in 2025, attracting a wave of Chinese battery and energy-storage firms amid strong investor appetite. According to Bloomberg data, 46 Chinese companies have raised a combined US$16.5 billion through listings in the city this year.
The most notable was Contemporary Amperex Technology (CATL), the world’s largest battery maker, which secured US$4.6 billion in a secondary listing in May — the city’s biggest deal of the year. Its Hong Kong-traded shares have outperformed those on the mainland, highlighting robust international demand.
