New Stock News | Sinopec New Energy to hold a hearing at the Hong Kong Stock Exchange, with revenue expected to increase almost sevenfold year-on-year by 2025.

According to the disclosure on March 29 by the Hong Kong Stock Exchange, Sigem New Energy (Shanghai) Limited (referred to as Sigem New Energy) has conducted a hearing for its listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC and BNP Paribas acting as joint sponsors. The prospectus shows that Sigem New Energy is a global leader in the field of Distributed Energy Storage System (DESS) solutions. The company strategically focuses on the market for stackable distributed solar energy storage integrated solutions, which are expected to account for approximately 0.7% of the energy storage system market by 2024. According to a Frost & Sullivan report, two years after its establishment, the company has become the world's leading provider of stackable distributed solar energy storage integrated solutions based on product shipments, with a market share of 28.6% in 2024, accounting for 0.6% of the distributed energy storage system market and 0.2% of the energy storage system market at the time. The company develops and provides innovative renewable energy solutions for residential and commercial entities. As of the latest practical date, the company's products are primarily used in residential settings and less in commercial and utility-scale settings. The flagship product, SigenStor, adopts a modular, stackable product design, seamlessly integrating photovoltaic inverters, DC charging modules, Power Conditioning System (PCS), energy storage batteries, and Energy Management System (EMS) into one system. By simple stacking or module replacement, users can customize capacity to meet a range of energy needs for household and commercial purposes, demonstrating great flexibility and scalability. During the historical period, sales of SigenStor contributed over 90% of the company's total revenue. The gross profit and gross profit margin breakdown by product is as follows: During the historical period, the gross profit margin of SigenStor continued to rise, mainly due to lower unit production costs through continuous optimization of product design and production processes, while the company maintained pricing for high-end products. From 2023 to 2024, the gross profit margin of the Intelligent Energy Gateway increased, and the gross profit margin of other products also grew during the same period, mainly due to rapid expansion of production and sales leading to lower unit production costs. The gross profit margin of the Intelligent Energy Gateway decreased from 2024 to 2025, primarily due to the relatively lower gross profit margin of the commercial Intelligent Energy Gateway. As of December 31, 2025, the company has established a wide network of cooperation with 172 distributors in 85 countries and regions, and has become the preferred partner for leading distributors in all major markets in the Asia-Pacific, Europe, and Africa regions (including Australia, the UK, Ireland, Sweden, South Africa, and the US). In 2023, 2024, and 2025, sales of the flagship product, SigenStor, achieved energy capacity sales of 18 MWh, 447 MWh, and 3,947 MWh, respectively. As major market participants vigorously promote stackable distributed solar energy storage integrated solutions in 2025, it is expected that the shipment volume in this sub-market will reach 3.8 GWh. Looking ahead, as the advantages of stackable distributed solar energy storage integrated solutions in flexibility, cost savings, efficiency, convenience, and safety are increasingly recognized and the application scenarios continue to expand, the global shipment volume of stackable distributed solar energy storage integrated solutions is expected to reach 47.9 GWh by 2030, with a compound annual growth rate of 65.8% from 2025 to 2030. Financially, driven by strong technical capabilities and the value of its products, the company has experienced rapid business expansion and revenue growth throughout the historical period. Revenue increased from RMB 58.30 million in 2023 to approximately RMB 1.33 billion in 2024 and further increased to approximately RMB 9 billion in 2025. Net profits were RMB 83.80 million in 2024 and approximately RMB 2.919 billion in 2025.