On March 25th, 2025, Hithium Energy Storage Technology Co., Ltd. officially submitted its listing application to the Hong Kong Stock Exchange, aiming to be listed on the main board. Huatai International, CITIC Securities, Agricultural Bank of China International, and Bank of China International serve as the joint sponsors.
The company’s operating income has increased rapidly. It has increased from 3.615 billion yuan in 2022 to 12.917 billion yuan in 2024, with a compound annual growth rate of 89.0%. From 2022 to 2024, Hithium’s gross profit and gross profit margin were 410 million yuan, 1.238 billion yuan, 2.309 billion yuan, 11.3%, 12.1%, and 17.9% respectively. In 2024, the company achieved a net profit of 288 million yuan, turning from loss to profit.
The main reason for the year-on-year increase in Hithium’s profitability indicators is the strong demand for energy storage products in overseas markets. From 2022 to 2024, the company’s overseas market revenues were 33,000 yuan, 101 million yuan, and 3.700 billion yuan respectively, accounting for approximately 0%, 1.0%, and 28.6% of the total revenue in that year. The rapidly expanding high-margin overseas market segment has driven the improvement of the company’s overall profitability.