--- title: "Shuangdeng Group (06960.HK): Focusing on the energy storage track, listed on the main board of the Hong Kong Stock Exchange, raising funds to boost production capacity and R&D, and deepening the blue ocean of data center and communication energy storage." type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/33067006.md" description: "On August 18, 2025, the leading domestic energy storage solution provider in the big data and communication sectors—$SHUANGDENG(06960.HK) Shuangdeng Group Co., Ltd. (hereinafter referred to as "Shuangdeng Group") officially launched its IPO on the main board of the Hong Kong Stock Exchange. The company plans to issue a total of 58.56 million shares through a public offering and placement, with the offer price set at HKD 14.5, and expects to raise approximately HKD 756 million. The listing is sponsored by CICC, Huatai International, and CCB International, with the trading date tentatively scheduled for August 26, 2025..." datetime: "2025-08-18T09:43:39.000Z" locales: - [en](https://longbridge.com/en/topics/33067006.md) - [zh-CN](https://longbridge.com/zh-CN/topics/33067006.md) - [zh-HK](https://longbridge.com/zh-HK/topics/33067006.md) author: "[真灼财经](https://longbridge.com/en/profiles/1067948.md)" --- # Shuangdeng Group (06960.HK): Focusing on the energy storage track, listed on the main board of the Hong Kong Stock Exchange, raising funds to boost production capacity and R&D, and deepening the blue ocean of data center and communication energy storage. On August 18, 2025, Shuangdeng Group Co., Ltd. (referred to as "Shuangdeng Group"), a leading domestic energy storage solutions provider in the big data and communications sectors, officially launched its IPO on the main board of the Hong Kong Stock Exchange. The company plans to issue a total of 58.56 million shares through a public offering and placement, with the offer price set at HKD 14.5, raising approximately HKD 756 million. The listing is sponsored by CICC, Huatai International, and CCB International, with the trading date scheduled for August 26, 2025, marking a new phase in the capital markets for this company deeply rooted in the energy storage battery sector. **Deepening Core Energy Storage Segments with Dual Layouts in Lead-Acid and Lithium Batteries** Shuangdeng Group specializes in the design, R&D, manufacturing, and sales of energy storage batteries and systems, with core products covering lithium-ion batteries and lead-acid batteries. Among them, lithium-ion batteries primarily include lithium iron phosphate batteries, pouch cells, and prismatic aluminum shell batteries. Lead-acid batteries, with their mature technology, high safety levels, and superior instantaneous discharge performance, dominate the data center energy storage market—accounting for 89.2% of the global data center energy storage market in terms of newly installed capacity in 2024. From an industry perspective, the global data center energy storage market is entering a period of accelerated expansion. On one hand, the growing demand for data centers worldwide provides a broad application space for energy storage batteries. On the other hand, the advantages of lead-acid batteries in terms of technological maturity and instantaneous discharge performance will support steady market growth. In the communication energy storage sector, the Chinese market also holds considerable potential: from 2020 to 2024, China's newly installed communication energy storage capacity (including new and replacement) grew from 16.5 GWh to 24.5 GWh, with a compound annual growth rate (CAGR) of 10.4%. By 2030, this figure is expected to further increase to 54.2 GWh, with a projected CAGR of 14.2% from 2024, providing long-term growth momentum for Shuangdeng Group's core business. **Steady Financial Performance with Competitive Valuation** Financial data shows that Shuangdeng Group has maintained stable revenue growth in recent years: revenues for 2022, 2023, and 2024 were RMB 4.073 billion, RMB 4.260 billion, and RMB 4.499 billion, respectively. Net profits for the same periods were RMB 281 million, RMB 385 million, and RMB 353 million, reflecting overall stable profitability. Based on the 2024 net profit, the company's P/E ratio for this IPO is 15.6x, which is not only close to the market average but also significantly lower than peers (such as CATL), making the valuation relatively attractive. Notably, the company's gross margin declined from 20.3% in 2023 to 16.7% in 2024 and further to 14.9% in the first five months of 2025, primarily due to two factors: reduced revenue contribution from higher-margin lithium-ion batteries and rising raw material costs (especially lead ingot prices). However, with the implementation of fundraising projects and cost optimization, the company's gross margin is expected to gradually improve. **Fundraising Focused on Three Key Areas to Strengthen Global Competitiveness** According to the IPO plan, the proceeds from Shuangdeng Group's offering will be allocated to three core areas: 40% will be used to build lithium-ion battery production facilities in Southeast Asia, expanding overseas capacity to meet regional energy storage needs; 35% will be allocated to establishing an R&D center to enhance energy storage battery R&D, product performance, and innovation capabilities; 15% will be used to strengthen overseas sales and marketing networks to further expand global market share; and the remaining 10% will serve as general corporate purposes to optimize working capital reserves. This fundraising strategy aims to expand capacity to match market growth, focus on R&D to solidify core competitiveness, and strengthen overseas channels, positioning the company more favorably in the global energy storage market. With the progress of its main board listing on the Hong Kong Stock Exchange, Shuangdeng Group will leverage capital to further solidify its technological barriers and expand its global market presence. Against the backdrop of rising global energy storage demand and accelerating digital transformation in the communications industry, the company, with its market dominance in lead-acid batteries and technological advancements in lithium-ion batteries, is poised to lead in the blue ocean of data center and communication energy storage, delivering long-term value to investors and contributing to the high-quality development of the global energy storage sector. ### Related Stocks - [601995.CN](https://longbridge.com/en/quote/601995.CN.md) - [03908.HK](https://longbridge.com/en/quote/03908.HK.md) - [06960.HK](https://longbridge.com/en/quote/06960.HK.md)