BRIEF: Hithium files updated Hong Kong IPO application as revenue soars

Energy storage specialist Xiamen Hithium Energy Storage Technology Co. Ltd. filed an updated application for its Hong Kong IPO on Monday, showing it maintained its strong revenue growth into 2025. For the first half of the year, Hithium reported revenue of 6.97 billion yuan ($980 million), surging 224.6% from a year earlier, with its gross profit soaring more than 1,000% to 916 million yuan.

Founded in 2019, Hithium is one of the world’s largest manufacturers of energy storage system (ESS) batteries and complete systems. It offers a series of energy storage products and solutions tailored for diverse application scenarios, covering the entire industry chain — from ESS batteries to integrated energy storage systems and end-to-end solutions.

As the first Chinese company to produce energy storage systems in the U.S., Hithium is capitalizing on the wave of opportunities arising from explosive growth in energy storage demand. The company has been profitable on an adjusted basis since last year, and continued that in the first half of this year with an adjusted profit of 247 million yuan. It is also rapidly moving towards annual profitability on a net basis.

Hithium has leveraged its differentiated technology to give it a significant edge in the energy storage sector, particularly within the long-duration energy storage niche. The company pointed out it was the world’s first to launch ESS batteries with more than 1,000 Ah of capacity.

The company mass produces a comprehensive product matrix of ESS batteries that are deployable across a broad range of grid and utility-scale and commercial and industrial scenarios, including cells with 587 Ah and 1175 Ah of capacity. The company was also the first to mass produce 314 Ah ESS batteries.

By Doug Young

The Bamboo Works offers a wide-ranging mix of coverage on U.S.- and Hong Kong-listed Chinese companies, including some sponsored content. For additional queries, including questions on individual articles, please contact us by clicking here

To subscribe to Bamboo Works free weekly newsletter, click here