Pertumbuhan pendapatan melonjak lebih dari 150 kali lipat, perusahaan “Apple di dunia energi” ini membangun ulang jalur penyimpanan energi senilai lebih dari seribu miliar

8 April, Sige New Energy (6656.HK) officially launched its Hong Kong stock offering, with a global sale of 13.57M shares, an issue price of HKD 324.20 per share, raising over HKD 4.4 billion (excluding the “green shoe” option) through this IPO, with a market cap exceeding HKD 80 billion. It has a green shoe mechanism and is expected to list on the Main Board of the Hong Kong Stock Exchange on April 16.

Founded less than four years ago, aiming for an IPO, Sige New Energy is expected to set a new record for mainland Chinese companies listing on the Hong Kong stock market. More than speed, what attracts the world’s top capital lineups to this company is the question of what it relies on to draw such attention.

Sige New Energy’s cornerstone investors subscribed up to 49.8%, nearly half of the issued shares are locked in by institutions for six months. According to the prospectus, cornerstone investors include Temasek, UBS Asset Management, Goldman Sachs Asset Management, Hillhouse, BNP Paribas Asset Management, Baring, Orix, CPE Yuanfeng, Gao Yi Asset Management, Jinglin Asset Management, Boyu Capital, Franklin Templeton, Pacific Insurance, and other sovereign funds, international asset managers, leading private equity firms, and large insurance companies. The strength and diversity of this institutional lineup are rare in recent Hong Kong IPOs.

In the eyes of capital, Sige New Energy answers a more core question: in the recognized long-term track of energy storage, what kind of company can move more steadily and longer?

Revenue has grown over 150 times, from losses to high profitability. The position in the AI-native energy storage track, extreme product strength, and high growth certainty have made Sige New Energy a model of rapid business transformation.

The company’s listing marks the energy industry’s acceleration from “equipment-driven” to “system and intelligent-driven” transformation. This is a new starting point for redefining the value of energy storage companies in the market.

“Super Cycle” in the Energy Storage Industry, Scarce Targets with Both Growth and Profitability

Currently, the global energy storage industry is at the beginning of a new super cycle.

Since 2026, catalyzed by a series of events such as Middle East geopolitical conflicts, soaring global energy prices, and surging AI electricity demand, the industry is experiencing a comprehensive explosion with a disruptive stance.

Policy support, demand explosion, and overseas high growth resonance have allowed this trillion-dollar track to completely shed its internal competition and enter a new stage of high-quality growth.

However, industry pain points remain obvious: heavy assets, low gross margins, emphasizing scale over profitability, with few players capable of achieving both high growth and high profitability.

Sige New Energy is precisely such a rare company.

From losses to high profitability, from chasing the track to defining the track, Sige New Energy has achieved countercyclical high-quality growth in the super cycle—short-term explosive growth, high profit quality, deep overseas barriers, completely breaking out of industry homogenization traps.

According to financial reports, the company’s revenue was 58.3 million yuan in 2023, reaching 9 billion yuan by 2025; after turning profitable in 2024, net profit soared to 2.92 billion yuan in 2025.

A startup company achieving both growth and profitability simultaneously is rare in itself. Once the “growth and profitability coexist” flywheel is activated, it undoubtedly rewrites the entire industry’s game rules.

With the validation of its business model, Sige New Energy has not only become a shining star in the high-growth distributed energy storage system market but also contributed a new set of tactics with the practice of “soft and hard cloud integration,” for this rapidly exploding track.

In the race to go public rapidly, Sige New Energy has brought a new paradigm of growth and valuation to the energy storage industry in the capital market.

Perpetual Growth: The “Apple” of AI + Energy Storage Driven by Triple Flywheels

In the traditional photovoltaic and energy storage industry chain, the fate of manufacturing is often at the “smile curve” bottom: huge investment, slim profits, and reliance on scale to dilute costs.

Therefore, although it remains a fast-growing track, the valuation logic of the energy storage sector is categorized as manufacturing. Frost & Sullivan data shows that by 2030, global energy storage system shipments will reach 804.5 gigawatt-hours, with a CAGR of 21.4% from 2025 to 2030.

However, Sige New Energy breaks the traditional narrative. Regarding how to seize more growth dividends in the future, the company starts with technology and constructs a triple flywheel-driven growth cycle, identifying long-term potential.

The first flywheel is continuous reinvestment of technological premiums into innovation.

Sige New Energy’s core product SigenStor adopts a “five-in-one” design, deeply integrating photovoltaic inverters, energy storage converters, batteries, DC charging modules, and energy management systems (EMS), compressing installation time to 15 minutes. With the ultimate “hardware and software integration” engineering aesthetics, it breaks through the high labor cost barriers in Europe and America.

Against an industry average gross margin of about 20%, Sige New Energy’s gross margin in 2025 reaches 50.1%, and adjusted net margin is as high as 35.9%, successfully shifting the energy storage industry from “cost competition” to “technology premium” track.

Building on this, the company maintains “hardware-software integration + AI-native architecture” systematic innovation efficiency, with R&D personnel accounting for over 40% in 2025. Leading technology brings high premiums, and high premiums support intensive R&D. Once this positive cycle forms, the technology gap will only widen.

The second flywheel is data-driven sustainable evolution of soft and hard ecosystems.

If the “five-in-one” is Sige’s torso, then the “AI in All” strategy is its soul, building an AI closed loop from manufacturing to operation.

At the manufacturing end, Nantong “super factory” uses AI vision and algorithms to optimize yield rate to 99.9%; at the user end, AI-assisted energy dispatch allows users to participate in electricity market trading, reducing electricity costs by nearly 50%. Customers no longer buy a pile of depreciating batteries but a continuously revenue-generating energy system.

It’s worth noting that every device of Sige New Energy is also a data node driving AI evolution. By 2025, products are connected to over 85 countries and regions worldwide, with tens of thousands of power stations feeding real-time data to AI models.

AI helps users generate income by analyzing dynamic electricity prices and user habits, which in turn greatly enhances user stickiness, with a net promoter score of 69.97. This indicates that Sige is an exponential growth engine where more data usage, more accurate models, and better user experience reinforce each other.

The third flywheel is platformization, broadening the long-term imagination of energy storage business.

In the business world, companies selling products fluctuate with sales volume, while standard-setting platform companies hold perpetual power.

As the technology and data flywheels operate, Sige New Energy is opening up the long-term space of energy storage through platformization and standard setting.

Initially, Sige targeted the high electricity price, high acceptance of intelligence, and mature markets in Europe, America, and Australia. By 2025, the company leads in Australia, Ireland, South Africa with storage below 1000kWh, and also ranks top in the UK, Sweden, Belgium-Luxembourg markets.

In the future, after establishing advantages in these markets, Sige New Energy is expected to leverage its “five-in-one” architecture and AI operating system, connecting household, industrial, and large ground power stations into a unified smart energy network through standardized hardware interfaces and software protocols.

This “product matrix + standard output” strategy will transform Sige from a single equipment manufacturer into an energy internet platform operator, extending its business from hardware sales to virtual power plant operation, energy trading, and other high-value-added services.

This means Sige New Energy is building an ecosystem of “hardware paving the way, software retaining talent, platform generating revenue.” Understanding the logic behind growth makes it hard not to think of another validated path: Apple.

Although Sige New Energy has not yet reached that stage, the business logic is similar: through technology and ecology, turning standardized hardware into a system capable of continuously generating value-added income.

The “Apple” of distributed energy, in the energy storage track on the verge of explosion, makes its valuation potential even more promising.

Energy Storage as Future Tech Infrastructure, Chinese Innovation Offers a Better Solution for the Golden Decade

Using a new approach to redefine an old track is a story that has become a familiar “Chinese-style innovation” path in recent years.

Technological competition emphasizes asymmetric breakthroughs, not fighting on familiar rules. In the fuel vehicle field, bypass barriers by switching directly to electrification; in computing infrastructure, build differentiated advantages with the richest application scenarios and the most complete industrial chain.

From new energy vehicles to AI applications, Chinese companies are continuously climbing the global industrial value chain. Now, Sige New Energy once again proves the power of this move in the energy storage track: not seeking gaps in the existing energy storage competition, but adopting a new approach—integrating hardware, software, and system capabilities, introducing AI into energy systems, and turning electricity usage into smart management.

This is also a forecast of future trends: if the past core of energy was “producing” electricity, the next decade’s key question may be how to use, price, and circulate each kilowatt-hour more intelligently.

On one hand, the “Black Swan” event of the Strait of Hormuz blockade is reshaping the global energy supply pattern.

Under global geopolitical shifts, this will be a long-term trend. Renewable energy and energy storage systems relying on local resources and stable operating costs are seen as effective solutions to challenges, with countries accelerating policy formulation. In the future, they will serve as a buffer layer connecting power generation, consumption, and computing power, becoming a new type of infrastructure combination.

Sige’s products cover household, industrial, and ground power station energy storage systems, meeting diverse user needs for reliability, flexibility, and long-term returns—precisely what the current energy independence requires most.

On the other hand, with the fourth technological revolution, computing power demand is soaring, and the end of computing power is electricity. “Electricity” is beginning to acquire new strategic attributes.

NVIDIA founder Jensen Huang’s article reopens the energy storage topic. He dissects the entire AI system into “five layers”: energy, chips, infrastructure, models, and applications, pointing out that each successful application pulls all layers downward, driving power plant operation. The connection between energy storage and technological change has never been closer than today.

From the market perspective, in the future of technological revolution, the global electricity market size, penetration of distributed energy, and complexity of electricity pricing mechanisms are all rising simultaneously. “AI + energy storage” almost has no obvious ceiling.

With the official launch of Sige New Energy’s Nantong Smart Energy Center and the verified global manufacturing and delivery system, Sige New Energy can keep pace with the expanding global demand.

This signals a reshaping of the global energy map and is also a microcosm of China’s high-tech going global from “price competition” to “value competition.”

From China’s early manufacturing advantage-driven global expansion to now, represented by Sige New Energy, exporting technological premiums, product definition capabilities, and ecological building abilities. In the second half of the energy revolution, this redefined standard-setting approach in the optical and storage industry has just begun to realize its value.

Listing at this point, Sige New Energy is expected to seize industry dividends in the next decade.