2025-10-10

IPO Temporarily Slows but Growth Trajectory Unchanged: How Did Hithium Reach Global No. 2 in Six Years?

By Kanokwan

HONG KONG, Oct 10, 2025 – (ACN Newswire via SeaPRwire.com) – Recently, the lapse of Hithium’s prospectus has drawn market attention, but this is not a rare occurrence in capital markets.

According to the relevant rules for Hong Kong IPO, if a prospectus is not listed within six months after submission, it automatically lapses. This mechanism is designed to ensure the timeliness and accuracy of information disclosure, avoiding information lag due to changes in the market environment or the company’s operations. It is worth noting that a lapsed prospectus does not mean the IPO is terminated. In Hong Kong, nearly half of newly listed companies have experienced a prospectus lapse before listing. If the listing hearing has not been completed, the company only needs to update its financial data and re-submit the application within three months to resume the review process.

As a rapidly developing energy storage company, Hithium’s is currently experiencing strong business momentum. Among the two Xiamen-based companies listed on the “2025 Global Unicorn List” released by the Hurun Research Institute, Hithium is precisely one of them.

Especially against the backdrop of the rapid development of the energy storage industry and continuous policy support, Hithium, as an important industry participant, has a solid foundation to capture industry dividends and support its listing process. Changjiang Securities predicts global energy storage installation growth will exceed 50% in 2025 and over 40% in 2026, directly reflecting the industry’s robust momentum.

In this macro environment, Hithium’s business development and listing plans can better leverage the industry’s momentum. Hithium is expected to update its prospectus and resubmit its application within three months to continue the listing process. On the other hand, this lapse of the prospectus might become an opportunity for the company to review its business and optimize its strategy, preparing for a more stable connection with the capital market in the future.

I. Explosive Demand Growth and Full Capacity Operations Cement Foundation for Expansion

From an industry perspective, the global energy transition has now entered a “critical phase,” with major countries intensifying efforts to achieve “dual carbon” goals, leading to rapid growth in renewable energy installation capacity. However, renewable energy has inherent shortcomings of “intermittency and volatility”. If excess electricity cannot be stored effectively, it not only causes energy waste but may also affect grid frequency stability.

In this context, energy storage has been upgraded from an “optional accessory” to an “essential facility”, becoming the core link connecting renewable energy and the power grid. This has directly propelled the global energy storage market into an “outbreak period”.

According to statistics from the ICC Xinluo Energy Storage Database, global energy storage battery shipments reached 258 GWh in the first half of 2025, a year-on-year increase of 106%. Domestic manufacturers shipped 252 GWh, a year-on-year increase of 109%, clearly indicating that Chinese manufacturers have become the dominant force in the global energy storage market.

Leveraging its accumulated experience in energy storage technology R&D and product manufacturing, Hithium accurately seized this opportunity. Its shipments have leapt from global fifth in 2023, to third in 2024, and reaching second place in the first half of 2025. The compound annual growth rate over the past three years reached 167%.

Correspondingly, Hithium’s ‘s current production lines are operating at full capacity. At present, the production bases in locations like Xiamen and Chongqing are running continuously at full capacity. Its Southwest Intelligent Manufacturing Center in Tongliang, Chongqing, is the first lithium battery electrochemical energy storage complete project in Chongqing. With a total investment of RMB 13 billion, it plans to build a production base and R&D center for 56 GWh of new-generation energy storage lithium batteries and 22 GWh of energy storage modules. Since March, factories including those in Xiamen and Chongqing have been operating at full capacity, with orders scheduled until the end of the year.

This status not only directly reflects the market recognition of its products and sufficient order backlog but also demonstrates the company’s strong capabilities in production management and supply chain coordination.

II. Steady Progress in Internationalization Strategy and Frequent Large Orders Highlight Global Competitiveness

Hithium’s ability to maintain a top position in the global energy storage market is inseparable from the steady advancement of its internationalization strategy. In 2024, the company’s overseas revenue reached RMB 3.7 billion, accounting for 28.6% of total revenue. Its global service network covers over 20 countries and regions.

Since the beginning of the year, Hithium has successively secured major international orders, demonstrating a strong momentum in international development.

In July this year, Hithium signed a cooperation agreement with Elements Green, a leading UK developer of solar and storage infrastructure, for a battery energy storage system project with a total scale of 720 MWh. It is reported that this project is one of the largest energy storage projects in the UK to date.

In August this year, Hithium signed significant energy storage project cooperation agreements with Saudi Electricity Company and Saudi utility giant Alfanar Group. They will build two large-scale energy storage projects in the Tabuk and Hail provinces of northern Saudi Arabia, with a total capacity of 1GW/4GWh achieving a breakthrough in the GWh-scale application of the world’s first mass-produced kA-hour class long-duration energy storage battery and system solution.

In September this year, Hithium also reached a strategic cooperation with Fotowatio Renewable Ventures, a sustainable energy solutions developer in Australia, to establish an energy storage system with a total scale of 500 MWh in Victoria, Australia.

This series of outstanding achievements stems from its deep accumulation in technology and product innovation.

As of the end of 2024, Hithium’s global patent applications exceeded 3,900, Meanwhile, the company boasts an R&D team of over 1,100 personnel, achieving full coverage from materials, cells, systems to solutions.

In terms of products, Hithium was among the first in the industry to deploy 280Ah energy storage battery products in large-scale energy storage projects, and also among the first to mass-produce 314Ah energy storage batteries and apply them in overseas large-scale energy storage projects. Its launch of the world’s first sodium-ion battery dedicated to power storage, the ∞Cell N162Ah, boasts a cycle life of over 20,000 cycles, laying a solid foundation for the next-generation technology competition.

With the opening of the global energy storage market, Hithium, leveraging its leading technological advantages and high-performance products, has steadily advanced cooperative relationships with customers in multiple countries and regions. The signing of a series of major international orders not only brings stable revenue expectations for the company but also helps it accumulate international project experience and enhance its global brand awareness, laying the foundation for subsequent expansion to more high-end customers.

III. Conclusion

The temporary lapse of the prospectus is merely a “mid-course adjustment” on Hithium’s capital market journey, unrelated to the core logic of its long-term value.

From a global perspective, the energy transition is an irreversible trend of the era. Energy storage, as a critical pillar, has become the “leading role” on the new energy stage. With its technology, production capacity, and global layout, Hithium is already positioned at a crucial point in seizing this historic opportunity.