Contemporary Amperex Technology Ltd. (CATL) surged 12.55% on its Hong Kong trading debut on May 20, opening at HKD 296 per share. The Chinese battery giant priced its H-share initial public offering (IPO) at HKD 263, raising a net HKD 35.33 billion ($4.52 billion) through the issuance of approximately 135.6 million shares. Of these, 10.17 million shares went to Hong Kong retail investors, with the remainder offered internationally. The listing drew strong demand from strategic and cornerstone investors, including Sinopec, Kuwait Investment Authority, Hillhouse Capital, UBS, Oaktree Capital, Mirae Asset, and Royal Bank of Canada. CATL’s market capitalization now stands at HKD 1.34 trillion. Robin Zeng, chairman and CEO, said the listing marked a deeper integration into global capital markets and a milestone in the company’s zero-carbon ambitions.
Huadian New Energy Group has secured regulatory approval from the China Securities Regulatory Commission (CSRC) for its IPO on the Shanghai Stock Exchange. The renewable energy arm of state-owned China Huadian Corp. said it plans to use the proceeds to fund construction of ongoing clean energy projects. According to its prospectus, Huadian New Energy aims to build 15.17 GW of new capacity across 23 provinces, municipalities, and autonomous regions, with total investment reaching CNY 80.45 billion ($11.10 billion).
Haitai Solar said it will reallocate CNY 147 million originally designated for a research center expansion and a 10 GW tunnel oxide passivated contact (TOPCon) cell project toward investment in a new manufacturing facility in Indonesia. The Indonesian venture, led by Haitai’s wholly owned subsidiary PT Green Vision Solar, involves a 2 GW solar cell and 1 GW module project with a total investment of approximately CNY 600 million. The first phase will involve CNY 300 million in capital outlay.
China’s National Bureau of Statistics said the country’s solar sector continued to show robust output growth in April. Solar cell production reached 71.93 GW, up 33.4% year on year. Cumulative output for the first four months totaled 239.06 GW, an 18.8% increase from the same period in 2024. Solar power generation hit 4.5 TWh in April, a 16.7% year-on-year rise, while cumulative generation from January to April reached 15.95 TWh, up 19.5% year on year.
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