On November 3, 2025, Guoxia Technology Co., Ltd. (hereinafter referred to as 'Guoxia Technology'), based in Huishan District, Wuxi, Jiangsu Province, filed its prospectus with the Hong Kong Stock Exchange for a proposed listing on the Main Board of Hong Kong. This marks its renewed application following the expiration of its previous filing on April 28, 2025.
Link to Guoxia Technology's prospectus:
https://www1.hkexnews.hk/app/sehk/2025/107841/documents/sehk25110303882_c.pdf
Main Business
Founded in 2019, Guoxia Technology is one of China’s energy storage industry providers offering platform technology and AI-driven renewable energy solutions and products, focusing on the research, development, and sale of energy storage system solutions and products.
According to a report by CIC, as of 2024, Guoxia Technology ranked as the eighth largest Chinese energy storage system supplier globally in terms of newly installed multi-purpose energy storage system capacity, and tenth largest in terms of global household energy storage system shipments.
Guoxia Technology's energy storage system solutions and products serve and are capable of covering various application scenarios, including power generation side, large grid side, commercial and industrial use, and residential applications. These solutions are suitable for both the domestic Chinese market and overseas markets. The company is among the pioneers in achieving seamless cloud integration of energy storage system solutions and/or products while developing an all-encompassing cloud platform.
Positioned in the midstream segment of the entire energy storage industry value chain, Guoxia Technology is capable of empowering all participants within the relevant ecosystem.
Empowerment for downstream participants on the electricity consumption side: The company can effectively assist customers in achieving: (i) self-generation and self-consumption of electricity, reducing reliance on the grid; (ii) effective management of electricity costs; (iii) optimization of peak and off-peak price differences; and (iv) enhanced reliability of electricity supply and usage.
Empowerment for downstream participants on the grid side: The company can effectively assist customers in achieving: (i) alleviation of grid congestion; and (ii) improvements in expansion and upgrades.
Empowerment for downstream participants on the power supply side: The company can effectively assist clients in achieving: (i) peak power regulation; (ii) system frequency monitoring; (iii) auxiliary dynamic operations; and (iv) energy grid integration.
Empowerment for midstream participants: The company can effectively help clients achieve (i) precise entry of relevant products into target markets; (ii) implementation of related integrated services, operations, and maintenance to effectively connect with end users; and (iii) cost reduction and better leveraging of their own advantages through the company’s platform-enabled collaboration.
Empowerment for upstream participants: The company can effectively assist them in achieving (i) precise entry of relevant products into target markets; (ii) avoiding fierce competition caused by product homogeneity, thereby enhancing differentiated competitive advantages; and (iii) driving product and/or technological innovation based on the company’s feedback and/or joint R&D efforts, which in turn promotes industrial iteration and upgrading.
In addition, Guoxia Technology continues to promote the development of the renewable energy ecosystem in various ways, including participating in the establishment of the 'Large-Scale Energy Storage Ecosystem Innovation Consortium' and building stable cooperative relationships with relevant universities and research institutions to link and integrate upstream, midstream, and downstream sectors of the industry chain, achieving mutual benefit and win-win outcomes.
Guoxia Technology's business includes intelligent energy storage system solutions (meeting various needs in large-scale, commercial, industrial, and residential scenarios globally), EPC services (development of commercial and industrial energy storage projects and photovoltaic power stations), and miscellaneous sales (forklifts, testing equipment, and discarded battery cells sold as waste).
Shareholder Structure
The prospectus shows that in Guoxia Technology's shareholder structure prior to its listing in Hong Kong,
Mr. Feng Lizheng, Mr. Zhang Xi, Mr. Liu Ziyeh, and the entities they control collectively hold approximately 58.54% of the shares.
Management
Guoxia Technology's board of directors consists of nine directors, including:
6 executive directors:
Mr. Feng Lizheng (Chairman);
Mr. Zhang Xi (Chief Executive Officer, General Manager);
Mr. Liu Ziye (Executive President);
Dr. Bai Yang (Senior Vice President, General Manager of Domestic Business Group, Chief Technology Officer, and Chief Engineer);
Mr. Zhu Shuaishuai (Senior Vice President, General Manager of Overseas Business Group, and Product Director of Overseas Business Group);
Mr. Wang Zhenlin (Vice President, Chairman's Assistant, Chief Financial Officer, and Joint Company Secretary);
Three independent non-executive directors:
Mr. Qian Kaiming (formerly known as Mr. Qian Qifan) (Executive Director of Kuangda New Energy Investment Co., Ltd.);
Ms. Jiang Xingnan (Employed at Tianyi Capital Group (Hong Kong));
Dr. Wei Jiang (Associate Professor with tenure at Stevens Institute of Technology and Professor at Antai College of Economics and Management, Shanghai Jiao Tong University).
In addition to the executive directors, the senior management includes:
Ms. Yuhan Zhang (Vice President, Supply Chain Director, and Quality Director).
Three members of the Board of Supervisors:
Ms. Beibei Sun (Chairperson of the Board of Supervisors, Deputy General Manager of the Overseas Business Group, and Operations Director of the Overseas Business Group);
Mr. Zenglei Qian (Digital Director of the Overseas Business Department);
Ms. Yifang Hu (Employee Representative Supervisor and Capital Manager).
Company performance
The prospectus shows that in the past 2022, 2023, 2024, and the first six months of 2025, Guoxia Technology's operating revenues were RMB 1.42 billion, RMB 3.14 billion, RMB 10.26 billion, and RMB 6.91 billion respectively, with corresponding net profits of RMB 24.277 million, RMB 28.148 million, RMB 49.119 million, and RMB 5.575 million respectively.
Intermediary team
The intermediary team for Guoxia Technology's IPO mainly includes:
Everbright Securities International as its sponsor;
Ernst & Young is its auditor;
Tongshang as its PRC legal counsel;
Chow Chun Huen (in association with Tongshang) as its Hong Kong legal counsel;
Jingtian Gongcheng serves as the Chinese legal counsel for its broker.
Jingtian & Gongcheng (Hong Kong) as its broker’s Hong Kong legal counsel;
Everbright Securities International as its compliance advisor;
CIC灼识咨询 serves as its industry advisor.
