Shoto Group goes public in Hong Kong, plans to expand production capacity and R&D

Shuangdeng Group, a company focusing on energy storage equipment manufacturing, has submitted an IPO application to the Hong Kong Stock Exchange on August 27, planning to list on the main board. According to the prospectus, the company's revenue from 2021 to March 31, 2024 was RMB 2.44 billion, RMB 4.072 billion, RMB 4.26 billion and RMB 808 million, respectively, while the net profit was RMB -53.65 million, RMB 281 million, RMB 385 million and RMB 91.58 million, respectively. In this IPO, Shuangdeng Group plans to use the funds raised to build a new lithium-ion battery production facility in Southeast Asia and establish a new R&D center focusing on improving the life of energy storage batteries, solid-state batteries, sodium-ion batteries and BMS technology.