111 times in three years! Hillhouse makes a whopping 20 billion, Walden International sees floating profits of 11 billion, Sige New Energy's IPO recreates the wealth creation myth of the primary market.

Today, the world's first stackable distributed solar-storage company, Sigenergy, listed on the Hong Kong Stock Exchange. By the close, Sigenergy's share price was HKD 659.50, up 103.42%, with a total market cap reaching HKD 162.763 billion. This is a capital carnival. The public offering was oversubscribed by 1102.05 times, creating a frenzy for IPO investors in the secondary market, while pre-IPO investors made a fortune. According to Xiniu Data, based on the closing price of HKD 659.5 per share, among Sigenergy's pre-IPO investors, 2 institutions have paper profits exceeding 10 billion, and 8 investors have paper profits over 1 billion yuan. Among them, seed round investor Shanghai Yusong has a paper profit of 2.126 billion yuan, achieving an 608x investment return in less than 4 years. Series A1 and A2 investors Gaoling Ventures and Walden International have paper profits reaching 19.9 and 10.9 billion yuan respectively, achieving a 111x investment return in three years. Series A3 investors Yunhui Capital, Zhongding Capital, and Yuanzhuo Enterprise Management have paper profits reaching 3.8, 3.8, and 1.26 billion yuan respectively, achieving a 43x investment return.

Among them, Gaoling Ventures holds 14.89%, making it the largest external shareholder of Sigenergy; Walden International holds 8.18%, Yunhui Capital holds 2.88%, and Zhongding Capital holds 2.88%. Founded in May 2022, Sigenergy is a provider of solar-storage-charging products and solutions, deeply engaged in photovoltaic power generation, smart energy storage, and efficient EV charging, committed to creating full-scenario solar-storage solutions with high safety, reliability, and intelligence. (With only 3 years and 11 months since its founding, Sigenergy also set the record for the fastest IPO among Chinese energy storage companies.) According to Xiniu Data, before listing, Sigenergy secured 6 rounds of investment, including well-known institutions like Gaoling Ventures and Walden International. Gaoling Capital is also a cornerstone investor of Sigenergy — in early April, Sigenergy received cornerstone investments from global top-tier institutions including Temasek, UBS Group, Goldman Sachs Group, Gaoling Capital, BNPP, Barings, ORIX, CPE Yuanfeng, Gaoyi Asset, Jinglin Investment, Boyu Investment, Fuguo Capital, and China Pacific Insurance. Gaoling Capital subscribed for USD 14 million through HHLR Advisors and USD 7 million through Hillhouse Investment Management, totaling USD 21 million. Including the equity obtained from the cornerstone investment, Gaoling's investment return from Sigenergy will exceed 20 billion yuan. For more data, see the chart below, interpreted for you by the Xiniu Foresight AI Assistant.