Sigenergy Technology (Shanghai) Co., Ltd. (hereinafter referred to as "Sigenergy" or the "Company"), a leading global provider of AI-native solar-storage-charging solutions, officially passed its listing hearing with the Hong Kong Stock Exchange (HKEX) today.
A spiring to be the "Apple of the Energy World," Sigenergy has reshaped the energy product ecosystem with "AI + Energy Storage" at its core. By positioning AI as the underlying capability permeating product design, system operation, and user interaction, the Company has achieved a leap from "manufacturing" to an "intelligent system platform." Leveraging disruptive AI product power and a precise global high-end strategy, the Company has demonstrated extraordinary growth momentum: revenue surged over 150-fold within two years, and the gross margin for 2025 exceeded 50%, showcasing a new paradigm of "value-driven growth" to the capital market.
Revenue Grew 150-fold in Two Years; Profitability Ranks Among the Top in the Industry
According to the latest data disclosed in the prospectus, Sigenergy's revenue scale has demonstrated extreme growth momentum. As of December 31, 2025, the Company's operating revenue soared from RMB 58 million in 2023 to RMB 9 billion in 2025, achieving an astonishing growth of over 150-fold within two years.
While achieving rapid expansion in revenue scale, the Company's profitability has also significantly improved. Its gross margin rose steadily from 31.3% in 2023 to 50.1% in 2025, with an adjusted net margin as high as 35.9% in 2025. Both indicators rank among the top in the global distributed energy storage industry. This reflects that the Company has successfully broken away from the common low-price competition framework of the industry, enhanced its pricing power through technological advantages, and thereby achieved synergistic growth in both scale expansion and profitability levels.
From "5-in-One" to Full-Scenario Coverage: Reshaping the Energy Management Paradigm
Sigenergy's core product, SigenStor, with its pioneering "5-in-one" design concept, has completely restructured the system morphology of distributed energy storage. SigenStor deeply integrates the solar inverter, power conversion system (PCS), battery pack, DC fast charging module, and energy management system (EMS) into a single platform. Through "AI + stackable" technology, users can flexibly expand system capacity as easily as building "LEGO" blocks. This highly integrated and extremely standardized system architecture optimizes the installation experience and provides the foundation for large-scale channel replication and global promotion.
At the system level, the Company has achieved near 0-millisecond on/off-grid switching technology through hardware-software synergy and system control optimization. Compared to traditional backup power solutions, its "seamless switching" characteristic minimizes the impact of grid fluctuations or interruptions on end-user electricity consumption. This ensures the continuous operation of critical loads in residential scenarios and effectively avoids production and operational losses caused by instantaneous power outages in industrial and commercial (C&I) scenarios.
On this basis, the Company has constructed a product portfolio covering residential, C&I, and large-scale utility power plants. In residential and C&I scenarios, the Company adopts modular, highly integrated, and scalable designs, enabling systems with flexible deployment and continuous upgrade capabilities. In utility-scale scenarios, the Company provides long-term value to customers centered on the concepts of "high yield, long-term safety and reliability, and simple O&M."
This multi-scenario layout is built upon platform-based capabilities anchored in a unified technical foundation. Through integrated hardware-software design, a unified data architecture, and control logic, the Company has achieved technical synergy and capability reuse across different products and scenarios. This system enhances R&D efficiency and product iteration speed, providing the underlying support for the Company's global scale replication and long-term profitability.
"AI in All" Constructs a "Growth Flywheel", Driving a Fundamental Leap in Ecological Value
Sigenergy adheres to the "AI in All" strategy, viewing AI as a fundamental capability permeating product design, system operation, and user interaction. At the critical juncture of the global energy transition toward intelligence and systematization, the Company is driving energy management from single-device control toward multi-device synergy and global optimization. In this way, dispersed devices, complex energy flows, and diverse application scenarios are integrated into a highly synergistic whole, empowering the entire energy system with unified dispatching and continuous evolution capabilities.
Based on this strategy, all core products of Sigenergy have pre-allocated computing power, data interfaces, and control capabilities during the architectural design stage. Whether it is the SigenStor residential system, AC EV chargers, or C&I and utility-scale products, all can seamlessly access the AI ecosystem. This means the Company is building not just individual devices, but an AI-centric energy system capable of cross-scenario synergistic operation. The dimension of competition has upgraded from single-product performance to a comprehensive competition of system capabilities, ecological capabilities, and continuous evolution capabilities.
The deeper value of AI capabilities lies in the formation of a "Growth Flywheel." As the number of globally deployed devices increases, while ensuring data security and user rights, the AI system continuously accumulates real-world operational data such as weather, electricity prices, power generation, loads, and user habits. This makes power consumption decisions more precise and system operations more efficient, thereby forming an ever-deepening ecological barrier.
More importantly, this capability has directly translated into commercial value. In overseas high-end markets with dynamic electricity pricing, the AI system can assist users in optimizing power strategies to maximize energy economic benefits. Taking the Swedish market as an example, the system has helped users reduce their average electricity costs by approximately 70%, directly converting AI capabilities into "tangible economic returns" and creating incremental value that traditional products cannot provide. Leveraging its leading AI application capabilities, Sigenergy has achieved a fundamental leap from an "energy equipment manufacturer" to an "AI-centric energy system platform."
Leading Global Market Share; Comprehensive Upgrade of Delivery Capabilities
As of December 31, 2025, the Company has established partnerships with 172 distributors and over 17,600 installers from 85 countries, covering core markets such as Europe, Asia-Pacific, North America, and Africa, and extending to emerging regions like Latin America, Central Asia, and South Asia. The Company has built a relatively sophisticated sales, service, and technical support network globally, laying a solid foundation for rapid localization in high-threshold markets and serving as the driving force for long-term growth.
Against the backdrop of intensified industry competition, Sigenergy persists in a development path that combines high-end positioning with globalization. Through "strategic superiority" via technology-deeply integrating modular design, full-scenario integration, and AI dispatching algorithms-the Company effectively avoids homogenized competition and continuously enhances product added value. The prospectus shows that high-value markets such as Australia and Europe have become core pillars of the Company's business growth, with sales revenue ranking in the top two. In global benchmark markets with stringent requirements for product performance and safety, according to market reports from the Australian energy consultancy SunWiz, Sigenergy ranked first in market share for systems under 1,000kWh in Australia, Ireland, and South Africa in 2025; it also holds leading positions in markets such as the UK, Sweden, and the Benelux region. This series of market performances fully validates the Company's strong brand premium and commercialization capabilities in high-end market segments.
To support global expansion, the Company has constructed three major manufacturing bases centered in Shanghai Lingang, Jinqiao, and Nantong, Jiangsu. Among them, the Nantong Smart Energy Center officially commenced production in the first quarter of 2026, with a total investment of RMB 500 million and a total construction area of 136,000 square meters. With an annual capacity exceeding 300,000 inverters and battery PACKs, it is one of the world's largest single-unit distributed energy storage factories. Through a synergistic system of "advanced manufacturing bases + intelligent industrial systems + deep AI empowerment," the Company has not only achieved the rapid release of large-scale capacity but also built high-consistency and high-reliability global delivery capabilities, forming a critical manufacturing barrier against competitors.
For this Hong Kong listing, the Company intends to use the proceeds for R&D investment, global sales network expansion, and intelligent manufacturing upgrades. Following the successful passing of the hearing, Sigenergy will continue to leverage its "AI-native" technological advantages, driving the industry's transition from traditional equipment competition to a comprehensive transformation defined by AI-driven systems, ecosystems, and long-term value.
For inquiries, please contact:
EVER BLOOM (HK) COMMUNICATIONS CONSULTANTS GROUP LIMITED
Ms. Claire Zhang
Tel: (852)3468 8171
Email: project_alps.list@everbloom.com.cn
Source: Sigenergy Technology Co., Ltd.
COMTEX_476213903/2268/2026-03-30T01:01:36