New Stock News | GreenShine Technology submits application to Hong Kong Stock Exchange, ranked second in the world's lithium-ion battery cutting machine provider.

According to the disclosure on May 15th by the Hong Kong Stock Exchange, Shenzhen Green Shine Technology Co., Ltd. (referred to as "Green Shine Technology") has submitted its listing application to the main board of the Hong Kong Stock Exchange, with South China Financing Limited serving as its exclusive sponsor. According to a Frost & Sullivan report, based on the 2025 fiscal year revenue, the company ranks second among global suppliers of lithium-ion battery cutting and stacking machines, with a market share of approximately 9.8% of global total revenue; and fourth among global suppliers of mid-stream intelligent equipment for lithium-ion batteries, with a market share of approximately 5.7% of global total revenue. Company Overview The prospectus shows that Green Shine Technology is one of the leading market participants in the global mid-stream intelligent equipment industry for lithium-ion batteries, focusing on the research and development and manufacturing of stacking technology and equipment for the new energy battery industry, particularly providing services to lithium-ion battery manufacturers in China and overseas. Green Shine Technology is known for its high-speed stacking technology, continuously achieving industry breakthroughs in stacking speed, for example, the unit stacking efficiency has increased from 0.6 seconds per unit in 2016 to 0.1 seconds per unit as of the last practicable date. The company's stacking machines utilize various proprietary stacking technologies specifically designed for prismatic and pouch battery production, ensuring minimal battery variability, high consistency, and efficient automated manufacturing. During the historical period, the company's customers included nine of the top ten lithium-ion battery manufacturers globally (based on shipment volume rankings) by 2025, with whom they have established long-term partnerships. These relationships are based on high entry barriers, stringent and lengthy certification processes, as well as strict requirements for product safety and reliability. The company has established five production facilities in Shenzhen and Jiangmen, Guangdong Province, Huangshan City, Anhui Province, and Xiaogan City, Hubei Province, with a total built-up area exceeding 60,000m2. Green Shine Technology provides fully automated equipment solutions for the core mid-stream manufacturing process, mainly focusing on lithium-ion battery manufacturing and assembly equipment, including: cutting stage, which includes the research and development and manufacturing of laser cutting machines; stacking stage, which includes the research and development and manufacturing of various types of stacking machines, ranging from single-station to multi-tasking stacking machines; the company is also engaged in the research and development and manufacturing of cutting and stacking integrated machines; winding stage, which includes the research and development and manufacturing of square and cylindrical cell winding machines; injection stage, which includes the research and development and manufacturing of various types of square, cylindrical, and pouch cell injection machines; and the production of automated conveyor lines and other equipment purchased by customers. Financial Information Revenue For the years ended 2023, 2024, and 2025, the company achieved revenues of approximately RMB 1.165 billion, RMB 1.155 billion, and RMB 1.221 billion respectively. Gross Profit and Gross Profit Margin For the years ended 2023, 2024, and 2025, the company recorded gross profits of approximately RMB 176 million, RMB 204 million, and RMB 208 million respectively, with corresponding gross profit margins of 15.1%, 17.6%, and 17.1% respectively. Net Profit For the years ended 2023, 2024, and 2025, the company recorded net profits of approximately -RMB 16.844 million, RMB 17.572 million, and RMB 48.235 million respectively. Industry Overview The global new energy battery industry continues to grow rapidly, becoming an important support for global energy transformation and new industrial systems, with lithium batteries accounting for over 90% of global new energy battery shipments. Global lithium battery shipments are projected to grow from 323.2GWh in 2020 to 2,278.9GWh in 2025, with a CAGR of 47.8%. It is expected that by 2030, global lithium battery shipments will reach 6,572.1GWh, with a CAGR of 23.6% from 2025. By application scenario, it is projected that by 2030, power batteries, energy storage batteries, and consumer batteries will reach shipments of 3,766.5GWh, 2,510.0GWh, and 179.4GWh respectively, with CAGRs of 20.3%, 31.7%, and 10.3% respectively from 2025. From 2020 to 2025, the global smart equipment market for lithium batteries is expected to grow from RMB 27 billion in 2020 to RMB 63.2 billion in 2025, with a CAGR of 18.5%. In 2024, the market was affected by temporary destocking and slowed investment pace, but in 2025, industry production capacity utilization significantly increased, with the top three lithium battery manufacturers surpassing 90% production capacity utilization, leading to a rapid recovery in equipment investment demand. China remains the largest market for lithium battery smart equipment globally, with the market size expected to grow from RMB 36.9 billion in 2025 to RMB 85.2 billion in 2030. Meanwhile, significant growth is expected in the European and North American markets, with CAGRs of approximately 27.7% and 25.5% respectively from 2025 to 2030, driven by the localization of the battery industry chain and downstream demand expansion, providing important market space for Chinese lithium battery smart equipment enterprises to support overseas production lines and projects. The mid-stream process directly affects battery structural stability, energy density, and product yield, and is a critical link in the lithium battery manufacturing process with high technical barriers and concentrated value. In 2025, mid-stream smart equipment accounted for approximately 34.0% of the global lithium battery smart equipment market. With the upgrade of high-energy-density battery technology, the scale expansion of energy storage and power battery production lines, and the continuous improvement of production efficiency and yield requirements for battery companies, demand for mid-stream smart equipment is expected to continue to grow. The global market size for mid-stream smart equipment for lithium batteries is expected to grow from RMB 21.5 billion in 2025 to RMB 64.6 billion in 2030, with a CAGR of 24.6% during this period. In terms of equipment types, cutting and stacking machines, winding machines, and injection machines constitute the core equipment system in the mid-stream process. Currently, power lithium batteries are still mainly using winding processes, however, with the development of power batteries towards thinning and high-energy-density directions, cutting and stacking machines are expected to grow rapidly. The global market size for lithium battery cutting and stacking machines is expected to grow from RMB 7.3 billion in 2025 to RMB 29 billion in 2030, with a CAGR of approximately 31.8%, higher than that of winding machines. The global market sizes for winding machines and injection machines are expected to reach RMB 17.4 billion and RMB 8.2 billion in 2030 respectively. Board Information The company's board of directors consists of 9 members, including 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors. Directors serve a term of three years and may be re-elected after retirement. The board of directors is responsible for and has general powers to manage and operate the company's business, including determining the company's business strategy and investment plans, implementing resolutions passed at shareholders' meetings, and exercising other powers, functions, and duties conferred by the articles of association. The board of directors is also responsible for developing and reviewing the company's policies and practices in corporate governance, risk management, internal controls, and compliance with laws and regulations. Ownership Structure SGI LLP is one of the two employee incentive platforms established under the employee incentive plan. SGI LLP holds 2,475,000 shares and approximately 41.82% of SGI LLP is owned by SRI LLP. Both SGI LLP and SRI LLP are the company's employee incentive platforms. According to the Securities and Futures Ordinance, SRI LLP is deemed to have an interest in the shares held by SGI LLP. SKCM LLP holds 299,324 shares, and the partnership interests of SKCM LLP are held by Mr. Lu (Chairman, Executive Director, and General Manager of the Company) with 39.40%, Mr. Chen (Executive Director of the Company) with 16.25%, Mr. Xue Bing with 7.70%, Mr. Lu Xinfeng (Mr. Lu's sister) with 7.70%, Mr. Wang Qingyi with 7.70%, Mr. Luo (Executive Director of the Company) with 3.54%, and Mr. Li (Executive Director of the Company) with 3.23%, all of whom are limited partners; the remaining 14.48% interest is held by independent third parties as limited partners, with each holding partnership interests not exceeding 5%. Mr. Lu is the sole executive partner of SRI LLP, SGI LLP, and SKCM LLP. According to the Securities and Futures Ordinance, Mr. Lu is deemed to have an interest in the shares held by SGI LLP, SRI LLP, and SKCM LLP. As of the last practicable date, Shanghai Sailhold holds 7,696,262 shares, Guoxin Suzhou holds 1,440,000 shares, and Guoxin Nanchang holds 2,384,244 shares. Advisory Team Exclusive Sponsor: South China Financing Limited Company Legal Advisors: Hong Kong Law: Guo Yechen Law Firm; Chinese Law: Junhe Law Firm Exclusive Sponsor Legal Advisors: Hong Kong Law: King & Wood Mallesons; Chinese Law: King & Wood Mallesons Reporting Accountants and Independent Auditors: Ernst & Young Hua Ming (Hong Kong) Certified Public Accountants Limited Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd., Shanghai Branch Compliance Advisor: South China Financing Limited