Latest news with #EveEnergy
Nikkei Asia
03-07-2025
- Automotive
- Nikkei Asia
China's EV battery makers plan Hong Kong listings, eyeing global market
IPO Sunwoda and Eve Energy hope to follow CATL's blockbuster IPO in May Sunwoda supplies batteries to state-owned Dongfeng Motor Group, Dongfeng Nissan and privately owned Chinese automaker Geely. (Photo by Shizuka Tanabe) SHIZUKA TANABE GUANGZHOU -- Chinese electric vehicle battery makers like Sunwoda Electronic and Eve Energy have laid out plans to list on the Hong Kong Stock Exchange, looking to raise funds to increase production capacity abroad and boost global competitiveness. Sunwoda's board passed a resolution this week to aim for a Hong Kong listing. Under the resolution, valid for two years, the company would offer less than 15% of its total number of issued shares, including new shares. Already listed on the Shenzhen Stock Exchange, it would become a dual-listed company.
Qatar Tribune
01-07-2025
- Automotive
- Qatar Tribune
Eve Energy to fund Malaysia plant withHK listing proceeds
Agencies Eve Energy, China's fifth-laraGENCIES gest producer of electric vehicle (EV) batteries, unveiled plans to build its second factory in Malaysia, three weeks after it decided to raise funds with a share offering on the Hong Kong stock exchange. The Shenzhen-listed company said in an exchange filing over the weekend that the plant, to be based in Kulim, in the northern state of Kedah, would cost 8.65 billion yuan (US$1.2 billion) and take up to two and a half years to complete. The production capacity for the factory, which would manufacture batteries for energy-storage systems, was not revealed. Proceeds from the share offering and loans from banks or other institutions would be used to fund the project, the company added. 'The project will propel expansion of the company's overseas businesses and meet the growing global demand for energy storage,' the filing said. 'The plant will help mitigate risks arising from escalating international trade frictions and spur our business growth.' The new plan is subject to approval by Chinese and Malaysian authorities. On Monday evening, Eve submitted its listing documents to the Hong Kong bourse, without specifying the amount it intends to raise. Citic Securities is the sole sponsor for the share offering. On June 9, Eve, based in Huizhou in China's southern Guangdong province, said its board endorsed a Hong Kong listing plan aimed at bolstering its international expansion, but details about the share offering were still in the works. According to Seoul-based consultancy SNE Research, Eve had a 2.7 per cent share of the global market for EV batteries in the first four months of 2025. The company reported an underlying net profit of 3.2 billion yuan in 2024, up 14.8 per cent from a year earlier.
South China Morning Post
10-06-2025
- Business
- South China Morning Post
China's No 5 EV battery maker Eve Energy jumps on Hong Kong IPO bandwagon
Eve Energy, China's fifth-largest producer of electric vehicle (EV) batteries, plans to raise fresh capital on the Hong Kong stock exchange, following the lead of its bigger rival Contemporary Amperex Technology (CATL) as international investors show a growing appetite for the country's industrial gems. Advertisement The Shenzhen-listed company said on Tuesday that its board had endorsed a fundraising plan aimed at bolstering its international expansion, but details about the share offering were still in the works. The flotation would 'enhance the company's capital strength, overall competitiveness and international brand awareness', Eve Energy said in a filing to the Shenzhen Stock Exchange. The time frame for Eve Energy's share sale would hinge on market conditions, said the company, which is based in Huizhou in China's southern Guangdong province. Advertisement Since its trading debut on May 20, CATL's Hong Kong shares have climbed 14 per cent to HK$299.60 on Tuesday.
