Sigenergy Technology, a provider of home battery storage and commercial solar solutions, has raised over HK$4.4 billion (~$562 million) through its initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX).

The Shanghai-headquartered company, which is listed under the stock code 06656.HK, began trading on April 16 at an offer price of HK$324.20 (~$41.3) per share. If the overallotment option is fully exercised, total proceeds from the offering could reach HK$5.06 billion (~$646 million).

Sigenergy received backing from Temasek, Goldman Sachs Asset Management, UBS Asset Management, and BNP Paribas Asset Management. Other participants included Hillhouse, CPE, Boyu Capital, Gaoyi Asset Management, and Greenwoods Asset Management, as well as insurance and specialized funds such as CPIC, ORIX, and Walden International.

Xu Yingtong, Founder and CEO of Sigenergy, stated, “Listing marks a new beginning for us. Guided by our ‘AI in All’ mission, we are doubling down on energy storage and accelerating R&D to fortify our competitive edge. Our goal is to ensure that AI translates into tangible value for our customers. As we advance our global expansion and refine our international network, we are proud to share the story of ‘China’s Intelligent Manufacturing’ in the renewable energy sector.”

According to its prospectus, Sigenergy reported revenue growth from RMB58.30 million (~$8 million) in 2023 to RMB9 billion (~$1 billion) in 2025, an increase of 154.4 times over two years.

Sigenergy’s flagship product, SigenStor, combines an inverter, EV DC charging module, and battery pack into a modular, stackable unit. By the end of 2025, the company had achieved an annual design capacity of nearly 360,000 inverters and over 5.6 GWh of energy storage batteries.

According to Mercom’s Annual and Q4 2025 Funding and M&A for Energy Storage report, announced debt and public market financing for Energy Storage companies in 2025 decreased 30% year-over-year (YoY), with $11.4 billion in 44 deals compared to $16.2 billion in 32 deals in 2024. Despite raising less capital, deal activity increased 38% YoY.

In December 2025, Guoxia Technology, a China-based company that provides AI-driven energy storage products and renewable energy solutions, announced its listing on the main board of the Hong Kong Stock Exchange (HKEX) under the stock code 02655.HK, raising approximately $78 million.