BRIEF: Guoxia Technology clears Hong Kong listing hearing

Energy storage systems provider Guoxia Technology Co. Ltd. passed its listing hearing with the Hong Kong Stock Exchange on Wednesday, paving the way for the launch of its IPO later this month. After passing the hearing, the company published its post-hearing information pack on Thursday.

Guoxia recorded revenue of 691 million yuan ($98 million) in the first half of this year, up from 90 million yuan a year earlier, and achieved a profit of 5.58 million yuan, compared with a net loss of 25.59 million yuan in the year-ago period. However, its gross margin slid sharply to 12.5% in the first half of this year from 25.1% in 2022.

By Lee Shih Ta

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