--- title: "Sige New Energy obtains IPO filing: 5.6 billion revenue in 9 months, founder is Huawei veteran Xu Yingtong" type: "News" locale: "en" url: "https://longbridge.com/en/news/279103057.md" description: "Sige New Energy (Shanghai) Co., Ltd. recently obtained IPO filing approval from the China Securities Regulatory Commission, founded by Huawei veteran Xu Yingtong. The company was established less than 4 years ago, with a revenue of 5.6 billion in 9 months and a profit of 1.89 billion. Its flagship product SigenStor achieved a sales growth of 314.3%, with confirmed order value reaching 3.8 billion. There was no revenue in 2022, with revenue of 58.3 million in 2023, and an expected 1.33 billion in 2024. In the first 9 months of 2025, revenue was 5.641 billion, with a gross margin of 51.6%" datetime: "2026-03-14T00:45:30.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279103057.md) - [en](https://longbridge.com/en/news/279103057.md) - [zh-HK](https://longbridge.com/zh-HK/news/279103057.md) --- # Sige New Energy obtains IPO filing: 5.6 billion revenue in 9 months, founder is Huawei veteran Xu Yingtong Leidi Network, Lei Jianping, March 14 Sige New Energy (Shanghai) Co., Ltd. (referred to as "Sige New Energy") has recently obtained IPO filing approval from the China Securities Regulatory Commission, securing the key to go public. Sige New Energy has just updated its prospectus, having been established for less than 4 years, achieving a revenue of 5.6 billion in 9 months and a profit of 1.89 billion. The founder of Sige New Energy is Xu Yingtong, a veteran from Huawei, who worked at Huawei for nearly 23 years and served as the president of Huawei's intelligent photovoltaic business and the president of Ascend AI computing business. As of February 28, 2026, Sige New Energy's SigenStor sales reached 0.58 GWh, a 314.3% increase compared to 0.14 GWh in the same period of 2025. Meanwhile, as of February 28, 2026, the total value of confirmed product orders reached 3.8 billion, a 520.4% increase compared to 600 million as of February 28, 2025. 9 months revenue of 5.6 billion, profit of 1.89 billion Sige New Energy was established in May 2022 and is a company in the renewable energy solutions sector. In June 2023, the company launched its flagship product, SigenStor. Sige New Energy's flagship product, SigenStor, features a modular and stackable product design that seamlessly integrates photovoltaic inverters, DC charging modules, energy storage converters (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. The prospectus shows that Sige New Energy had no revenue in 2022, with revenue of 58.3 million in 2023 and 1.33 billion in 2024; profits for 2023 and 2024 were -373 million and 83.85 million, respectively Sige New Energy reported a revenue of 5.641 billion yuan for the first nine months of 2025, with a gross profit of 2.912 billion yuan and a gross margin of 51.6%. The profit for the period was 1.89 billion yuan, with a profit margin of 33.5%. Sige New Energy's adjusted profits for 2023 and 2024 were -250 million yuan and 150 million yuan, respectively; the adjusted net profit for the first nine months of 2025 reached 2.168 billion yuan. As of September 30, 2025, Sige New Energy held cash and cash equivalents of 1.446 billion yuan. Xu Yingtong controls 49% of the voting rights. The executive directors of Sige New Energy are Xu Yingtong and Zhang Xianmiao; the non-executive directors are Sun Guoqing, Wang Lin, and Ms. Yang Ting; the independent non-executive directors are Ms. Wu Ying'en, Lin Jinwu, and Ms. Chen Jijing. Xu Yingtong is the chairman, CEO, and ultimate controlling shareholder of the company. Ms. Yang Ting is married to Xu Yingtong. Xu Yingtong, 51 years old, founded Sige New Energy in May 2022 and is responsible for the overall strategic planning and management of the group. Xu Yingtong has over 25 years of experience in the telecommunications, new energy, and AI industries. Before founding Sige New Energy, Xu Yingtong worked at Huawei for nearly 23 years. Xu Yingtong joined Huawei in 1999 and held various positions, including PDT manager for wireless products, head of the wireless software platform, director of Huawei's Wireless Hangzhou Research Institute, president of Huawei's smart photovoltaic business, and president of Ascend AI computing business. Sige New Energy conducted rounds A1 to A3 financing from July to December 2022, raised 140 million yuan in B round financing in December 2023, and raised 30 million yuan in B1 round financing in January 2024 Before the IPO, Xu Yingtong directly controlled approximately 10.18% of the shares and indirectly controlled approximately 39.10% of the shares through Xu Yingtong's holding entities (namely Shanghai Oujin, Shanghai Gulin, Shanghai Mailin, and Shanghai Maita). Shanghai Oujin holds 6.43%, Shanghai Gulin holds 7.86%, Shanghai Mailin holds 21.07%, and Shanghai Maita holds 3.74%. Xu Yingtong, the founder, chairman, and executive director of SiGe New Energy, is the sole general partner of each Xu Yingtong holding entity. Therefore, each Xu Yingtong holding entity is a close contact of Xu Yingtong. As of the last practicable date, this group of controlling shareholders collectively has the right to control approximately 49.28% of the voting rights of the company. In addition, Zhang Xianmiao holds 1.25%, Shanghai Qianzhu Song holds 9.88%, Zhuhai Meiheng holds 14.89%, Guangzhou Huaxin holds 8.18%, Jiaxing Dingyun holds 2.88%, Andaman International holds 2.2%, Hangzhou Yiyun holds 1.59%, Shanghai Yusong holds 1.58%, and Shanghai Yuzai holds 1.47%; Xingxu New Energy holds 1.37%, Gongqingcheng Yunteng holds 1.25%, Jinan Yunhui and Xiamen Xiaoyu hold 0.96% each, Tiantang Silicon Valley Entrepreneurship and Jie Feng Technology hold 0.68% each, Suzhou Yunhui holds 0.67%, and Xingxu Yaoneng holds 0.23%. ——————————————— ### Related Stocks - [06656.HK](https://longbridge.com/en/quote/06656.HK.md) - [000690.CN](https://longbridge.com/en/quote/000690.CN.md) ## Related News & Research - [The Momentum Bubble Is Starting To Crack](https://longbridge.com/en/news/286652237.md) - [BYD is booming in Australia, but in China it continues to suffer a sales decline. 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