I'm LongbridgeAI, I can summarize articles.QingTao Energy (Kunshan) Development Group Co., Ltd. recently submitted its prospectus and plans to list on the Hong Kong Stock Exchange. The company had a revenue of 940 million in 2022, with a net loss of 1.3 billion, and has just completed a financing of 1.9 billion. QingTao Energy focuses on the research and sales of solid-state batteries and expects to launch electric vehicles equipped with its hybrid solid-liquid batteries in 2026. In the next three years, revenue is expected to grow year by year, but losses will also continue. The controlling shareholder holds 37% of the equity, and SAIC is one of its shareholders
Leidi Network, Lei Jianping, April 8
Qingtao (Kunshan) Energy Development Group Co., Ltd. (referred to as "Qingtao Energy") recently submitted its prospectus, preparing to list on the Hong Kong Stock Exchange.
Qingtao Energy completed a financing of 620 million yuan in December 2022 and raised 2.7 billion yuan in June 2023.
In the H round of financing, Qingtao Energy completed a series of equity financing, issuing a total of 40,000,504 shares of common stock to a group of institutions and strategic investors, with total proceeds of approximately 1.9 billion yuan. Subscriptions were completed in two batches on January 27, 2026, and February 28, 2026, respectively.
Annual revenue of 940 million, net loss of 1.3 billion
Qingtao Energy is a company focused on the industrialization and commercialization of solid-state batteries, possessing solid-state battery technology and the capability for research and development and delivery of solid-state battery products.
Qingtao Energy focuses on the research, manufacturing, and sales of hybrid solid-liquid batteries and all-solid-state batteries for applications in electric vehicles and energy storage systems.
In March 2026, SAIC announced at the MG Tech Day held in Frankfurt that the MG4 Urban will become the first mass-produced electric vehicle in Europe equipped with hybrid solid-liquid batteries provided by Qingtao Energy, expected to be launched in the second half of 2026.
The prospectus shows that Qingtao Energy's revenues for 2023, 2024, and 2025 are projected to be 248 million, 405 million, and 943 million yuan, respectively; gross losses are projected to be 59 million, 96.33 million, and 250 million yuan, respectively.
In 2025, Qingtao Energy's revenue from power batteries is expected to be 237 million, accounting for 25.1%; revenue from energy storage batteries is expected to be 592 million, accounting for 62.8%; revenue from automation equipment is expected to be 77.23 million, accounting for 8.2%; and other revenue is expected to be 37.14 million yuan, accounting for 3.9%.
QingTao Energy's losses for the years 2023, 2024, and 2025 are expected to be 853 million, 1 billion, and 1.3 billion yuan, respectively.
QingTao Energy's adjusted net losses for the years 2023, 2024, and 2025 are expected to be 278 million, 500 million, and 766 million yuan, respectively.
As of December 31, 2025, QingTao Energy holds cash and cash equivalents of 1.238 billion yuan.
The controlling shareholder holds 37% of the equity, and SAIC is a shareholder.
The executive directors of QingTao Energy are Dr. Feng Yuchuan, Dr. Li Zheng, and He Chaoling; the non-executive directors are Ms. Yang Fan, Shen Haoming, and Ms. Yuan Wenjing; the independent non-executive directors are Dr. Li Enzhu, Dr. Wu Yingyu, and Lin Weiji.
Before the IPO, Dr. Feng Yuchuan held 10.64% of the shares, Dr. Li Zheng held 10.32%, Dr. Nan Cewen held 6.45%, Ms. Yang Fan held 4.84%, Kunshan He Shi held 2.68%, and Kunshan Qing Chuang held 2.07%. The aforementioned controlling shareholders collectively control 37% of the company's equity.
Shanghai Fengrui holds 8.11%, Chongqing Fengrui Phase I holds 6.53%, Chengdu Fengrui and Kunshan Fengrui each hold 0.15%, Fengrui Qihang and Quanzhou Fengrui each hold 0.07%. The aforementioned Fengrui entities collectively hold 15.09%.
Jiaxing Chuangqi holds 8.87%, Jiaxing Qijun No. 1 holds 6.23%, Jiaxing Chuangrong holds 0.15%. The aforementioned Shangqi Capital collectively holds 14.24%; Shangqi Capital and Hengxu Chuangling are both funds under SAIC.
Chongqing Yasi Rui holds 2.3%, Chongqing Qinshi holds 1.69%, Chongqing Zhenghanting holds 1%, and Chongqing Yasi Da holds 0.64%. The aforementioned Chongqing entities collectively hold 5.63% Yichun Anpeng holds 1.91%, Anpeng Zhiyuan holds 1.47%, Anpeng Zhihui holds 0.67%, the total holdings of Shenzhen Anpeng amount to 4.05%; Bank of China Investment holds 3.49%, Yongning Investment holds 2.51%;
Kunshan Yizhen holds 1.43%, Yangtze River Delta Investment holds 0.61%, Shangqi Qifeng holds 0.24%, the total holdings of the above companies amount to 2.28%; Kenge 88 holds 0.92%, Kenge 16 holds 0.6%, Kenge 87 holds 0.15%, Xinding Capital holds a total of 1.66% through the above shareholders.
Kunshan State-owned Assets holds 1.28%, Sichuan Chengdu Industrial Investment Electronic Information Major Industrialization Project Equity Investment Fund Partnership (Limited Partnership) holds 1.08%, Chengdu Juan Cheng High-tech Industry Investment Development Co., Ltd. holds 0.8%, Qingkong Yinxing Nantong Venture Capital Fund Partnership (Limited Partnership) holds 0.77%, Foshan Huachao Asset Management Co., Ltd. holds 0.73%, Sichuan Juxin Zhiyuan Private Fund Management Co., Ltd. holds 0.72%;
Shanghai Kechuang Center No. 1 Equity Investment Fund Partnership (Limited Partnership) holds 0.59%, Shanghai Shouye Junjing Investment Center (Limited Partnership) holds 0.48%, Huai'an Huai Shang Yingcai Venture Capital Co., Ltd. holds 0.48%, Qingdao Turing Hongkun Venture Capital Fund Partnership (Limited Partnership) holds 0.42%, Huzhou Dinghui Qingtai Enterprise Management Partnership (Limited Partnership), Guoshou (Shenzhen) Technology Innovation Private Equity Investment Fund Partnership (Limited Partnership), Wuxi New Heights High-precision Industry Investment Fund Partnership (Limited Partnership) each hold 0.37%;
Suzhou Major Industry Development Private Investment Fund Partnership (Limited Partnership), Taizhou Daode Xinhang Equity Investment Partnership (Limited Partnership), Shanghai Jiading Zhanxing Anxin Private Investment Fund Partnership (Limited Partnership) each hold 0.36%, Wuhai New Kinetic Energy Innovation Equity Investment Partnership (Limited Partnership) holds 0.32%, Hangzhou Shijin Enterprise Management Partnership (Limited Partnership) holds 0.31%, Chen Gongcen holds 0.26%;
Kunshan Kesen Technology Co., Ltd., Jiquan Shuangyu (Suzhou) Equity Investment Partnership (Limited Partnership) each hold 0.22%, Zhang Chuanping holds 0.11%, Nanjing Dongzheng Mingzhan Equity Investment Partnership (Limited Partnership) holds 0.09%, Suzhou Qingshan Zhiyuan Venture Capital Partnership (Limited Partnership) holds 0.08%, Beijing Renren Chuang Venture Capital Co., Ltd. holds 0.04% ——————————————