Aodong New Energy brings battery swapping technology to Hong Kong for fundraising, market focuses on the roadmap from loss to profit
Aodong New Energy Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange's main board, aiming to become the "first stock in battery swapping." The company has attracted international capital from Toyota, SoftBank, and others, with a valuation reaching HKD 11.9 billion. However, with the development of fast charging technology, the advantages of battery swapping have diminished. Since 2023, the company has faced difficulties including failed strategic transformation, declining revenue, business contraction, and ongoing losses
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