XianDao Intelligent officially listed on the Hong Kong Stock Exchange; leading lithium battery equipment manufacturer to make substantial investments in the global arena

A new company in the renewable energy sector has added a dual “A+H” capital platform layout. On February 11, nearly ten years after the company’s listing on the Shenzhen Stock Exchange’s ChiNext Board, the world’s leading lithium battery equipment manufacturer, Wuxi XianDao Intelligent Equipment Co., Ltd. (hereinafter referred to as “XianDao Intelligent,” 300450.SZ / 00470.HK), officially listed on the Main Board of the Hong Kong Stock Exchange.

However, unlike the enthusiastic atmosphere on the first day of listing for most “A+H” stocks, XianDao Intelligent’s debut in the Hong Kong market appeared quite restrained. On the first day of trading, XianDao Intelligent’s H-shares opened at HKD 46.26, up 1.00% from the issue price of HKD 45.80. During the day, the highest touched HKD 46.54, the lowest was HKD 45.04, and the closing price was flat at HKD 45.80, matching the issue price. The total trading volume was HKD 1.215 billion, with 26.3712 million shares traded and a turnover rate of 0.24%.

Meanwhile, XianDao Intelligent’s A-shares also fell sharply by 3.79% on February 11, closing at RMB 55.35.

This time, XianDao Intelligent issued 107.66 million H-shares globally, raising approximately HKD 4.93 billion, with a net of about HKD 4.8 billion after deducting related expenses. The offering attracted 10 cornerstone investors, including Oaktree, Pinpoint, AMF, Millennium, and other top international long-term funds, with a total subscription of about USD 275 million.

The previously disclosed prospectus shows that the company plans to allocate about 40% of the raised funds to expand its global R&D, sales, and service network to promote globalization; about 30% to deepen its platform strategy; about 10% to R&D on product design, manufacturing processes, and intelligent equipment technology optimization; about 10% to enhance digital infrastructure and improve business processes; and about 10% for working capital and general corporate purposes.

According to Frost & Sullivan, as the world’s largest supplier of intelligent lithium battery equipment, XianDao Intelligent held a 15.5% share of the global market in 2024 and a 19.0% share in China, maintaining industry leadership.

Notably, amid the current global shift of power battery capacity expansion toward Europe, North America, and Southeast Asia, XianDao Intelligent’s advantage lies in its ability to deliver complete production lines, having been validated globally by leading companies such as Tesla, Volkswagen, LG New Energy, CATL, and BYD.

“Listing on the Hong Kong Stock Exchange is an important milestone for the company’s development and a new journey toward globalization,” said Wang Yanqing, Chairman of XianDao Group, at the listing ceremony. For a company that already holds nearly one-sixth of the global lithium battery equipment market share, its future growth potential lies in the global arena.

The company’s products cover the entire lithium battery manufacturing process, including core equipment such as winding machines, stacking machines, coating machines, laser welding machines, injection systems, and formation and capacity systems, with a 100%自主技术率. It has obtained over 3,336 patents. As of September 30, 2025, the company had delivered more than 145 full-line solutions worldwide, including the world’s first automotive-grade all-solid-state battery production line.

In the photovoltaic sector, XianDao Intelligent’s self-developed XBC string welding machines have delivered over 30GW, ranking first globally in shipments; in hydrogen energy, smart logistics, 3C electronics, and automotive intelligent production lines, the company has also built a diversified business matrix.

The 2025 semi-annual report shows that among XianDao Intelligent’s top five main businesses, lithium battery intelligent equipment contributed 68.76% of revenue, photovoltaic intelligent equipment 8.04%, smart logistics systems 6.44%, and other businesses 16.78%. During the same period, the company’s overall gross profit margin reached 35.06%, with photovoltaic equipment at 36.52% and hydrogen energy equipment at 40.28%.

Regionally, East China is the company’s largest revenue source, contributing RMB 3.076 billion, accounting for over 40% of total revenue; additionally, overseas markets generated RMB 1.154 billion, with a gross profit margin of 40.27%, far higher than domestic levels.

In terms of performance, in 2024, affected by the lithium battery industry’s destocking cycle, XianDao Intelligent experienced its most severe performance pressure in nearly a decade, with net profit plummeting to RMB 286 million, a year-on-year decline of over 80%.

However, entering 2025, with explosive growth in energy storage demand, recovery in leading domestic battery companies’ operating rates, and accelerated overseas expansion, the company’s order scale rebounded sharply. According to its previous performance forecast, XianDao Intelligent expects to achieve a net profit attributable to parent company of RMB 1.5 billion to RMB 1.8 billion for the full year, representing a year-on-year increase of 424.29% to 529.15%.

Founded in 1999, XianDao Intelligent was started by founder Wang Yanqing, who was previously a capacitor equipment engineer holding a stable “iron rice bowl.” The company is headquartered in Wuxi, Jiangsu Province, and began with thin-film capacitor equipment. Its core businesses now include lithium battery intelligent equipment, photovoltaic intelligent equipment, 3C intelligent equipment, and smart logistics equipment. XianDao Intelligent states that its development journey is not only a story of a Chinese private enterprise deepening in intelligent manufacturing and pursuing the new energy track but also a typical example of China’s manufacturing sector growing from small to large and from weak to strong.

(Article source: The Paper)