|
The energy storage company's initial filing expired after a six-month limit, with an update likely by year-end as it reports rapid growth for its international and storage systems businesses
XIAMEN, China, Oct. 9, 2025 /PRNewswire/ -- Xiamen Hithium Energy Storage Technology Co. Ltd. is likely to restart its Hong Kong IPO process in the next three months, after its application filed earlier this year expired, as it seeks funds for its global expansion and ramps up its energy storage systems business.
The company's original March listing application lapsed late last month after it failed to complete the IPO within six months, a common occurrence for most companies in their first listing attempts, rather than a sign of failure. The development comes not long after a similar application by another energy storage company, Sigenergy, also expired after it failed to complete the listing within six months after filing.
A knowledgeable source told Chinese media that Hithium is likely to restart its Hong Kong IPO process by the end of this year.
The energy storage sector is currently thriving in the capital markets, attracting strong investor interest on strong growth prospects and supportive government policies. Hithium is seeking to tap booming global demand for both batteries and systems used to store energy from a growing number of solar, wind and other new energy farms and other generating stations being built worldwide. Such storage is a critical component for these facilities, allowing them to store excess electricity during peak generating times for later release during production lulls.
As demand ramps up, the global energy storage market is expected to pass 1,000 GWh per year by 2030, according to third-party market data in Hithium's original March prospectus.
Founded in 2019, Hithium provides batteries and energy storage systems for residential, commercial and industrial customers. It is the world's third largest provider in its sector, with about 11% of the global market. Its shipments grew by an average 167% annually between 2022 and 2024 to reach 35.1 GWh last year.
A recent boom in overseas demand for energy storage has helped Hithium to win multiple international orders from Europe, the U.S. and the Middle East, propelling it to second in global energy storage shipments in the first half of 2025. The company's two production bases in the cities of Xiamen and Chongqing have been operating at full capacity since March, and it is also building a new facility in the city of Heze in Shandong province to boost its capabilities. In a move to hedge against U.S.-China trade frictions, the company has already put a new facility in the U.S. state of Texas into operation — making it the first Chinese enterprise in this sector to establish and launch such a production base in the United States.
Hithium's revenue grew 26% last year to 12.9 billion yuan ($1.81 billion) from 10.2 billion yuan in 2023. Within that bigger figure, revenue from energy storage systems, which typically carry higher profit margins, more than doubled last year to 4.67 billion yuan from 1.97 billion yuan the previous year, rising to 36.2% of the total from 19.3% over that time.
The company is also rapidly building up its overseas business, which grew from just 1% of sales in 2023 to 28.6% last year. Hithium made a big advance on that front in August, when it signed a major supply deal with Saudi Electricity Co. worth about 2.6 billion yuan. On the bottom line, Hithium also passed another major milestone last year when it became profitable on an adjusted basis, reporting a 318 million yuan adjusted profit for the year.
The energy storage company's initial filing expired after a six-month limit, with an update likely by year-end as it reports rapid growth for its international and storage systems businesses
XIAMEN, China, Oct. 9, 2025 /PRNewswire/ -- Xiamen Hithium Energy Storage Technology Co. Ltd. is likely to restart its Hong Kong IPO process in the next three months, after its application filed earlier this year expired, as it seeks funds for its global expansion and ramps up its energy storage systems business.
The company's original March listing application lapsed late last month after it failed to complete the IPO within six months, a common occurrence for most companies in their first listing attempts, rather than a sign of failure. The development comes not long after a similar application by another energy storage company, Sigenergy, also expired after it failed to complete the listing within six months after filing.
A knowledgeable source told Chinese media that Hithium is likely to restart its Hong Kong IPO process by the end of this year.
The energy storage sector is currently thriving in the capital markets, attracting strong investor interest on strong growth prospects and supportive government policies. Hithium is seeking to tap booming global demand for both batteries and systems used to store energy from a growing number of solar, wind and other new energy farms and other generating stations being built worldwide. Such storage is a critical component for these facilities, allowing them to store excess electricity during peak generating times for later release during production lulls.
As demand ramps up, the global energy storage market is expected to pass 1,000 GWh per year by 2030, according to third-party market data in Hithium's original March prospectus.
Founded in 2019, Hithium provides batteries and energy storage systems for residential, commercial and industrial customers. It is the world's third largest provider in its sector, with about 11% of the global market. Its shipments grew by an average 167% annually between 2022 and 2024 to reach 35.1 GWh last year.
A recent boom in overseas demand for energy storage has helped Hithium to win multiple international orders from Europe, the U.S. and the Middle East, propelling it to second in global energy storage shipments in the first half of 2025. The company's two production bases in the cities of Xiamen and Chongqing have been operating at full capacity since March, and it is also building a new facility in the city of Heze in Shandong province to boost its capabilities. In a move to hedge against U.S.-China trade frictions, the company has already put a new facility in the U.S. state of Texas into operation — making it the first Chinese enterprise in this sector to establish and launch such a production base in the United States.
Hithium's revenue grew 26% last year to 12.9 billion yuan ($1.81 billion) from 10.2 billion yuan in 2023. Within that bigger figure, revenue from energy storage systems, which typically carry higher profit margins, more than doubled last year to 4.67 billion yuan from 1.97 billion yuan the previous year, rising to 36.2% of the total from 19.3% over that time.
The company is also rapidly building up its overseas business, which grew from just 1% of sales in 2023 to 28.6% last year. Hithium made a big advance on that front in August, when it signed a major supply deal with Saudi Electricity Co. worth about 2.6 billion yuan. On the bottom line, Hithium also passed another major milestone last year when it became profitable on an adjusted basis, reporting a 318 million yuan adjusted profit for the year.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hithium Experiences Rapid Business Growth, Likely to Continue Hong Kong IPO by Year-End
Vastnaut Announces Official Pre-Order of the Vastnaut One AI-Powered 4x4 Exoskeleton
LOS ANGELES, April 2, 2026 /PRNewswire/ -- Vastnaut has officially unveiled the Vastnaut One - the world's first AI-powered 4 Joints x 4 Motors exoskeleton. Engineered to redefine endurance for outdoor explorers, photographers, and professionals navigating extreme distances under heavy loads, Vastnaut One empowers explorers to venture with amplified strength, confidence, and freedom.
Introducing Vastnaut One: Intuitive Wearable Robotics for Movement Across Rugged Terrain
Pioneered as the world's first 4 Joints x 4 Motors exoskeleton, Vastnaut One delivers coordinated power that aligns perfectly with human biomechanics. Featuring multi-Joint coordinated assistance, the 4x4 structure breaks beyond single-joint assistance by coordinating power between the hips and knees, making every climbing step lighter and more efficient. The revolutionary structure brings augmented performance as:
- reduce uphill effort by up to 30%
- lower overall physical exertion by 32%
- decrease knee impact during descents by 35%
- provide an effective load reduction of up to 18 kg (40 lb)
Built for Outdoor Photography and Field Work Professionals
The greatest risk in the wild is joint strain. Vastnaut One shields the knees from the impact of the trail. With ATD™ (Adaptive Torque Distribution) technology, Vastnaut One intelligently detects landing timing to deliver adaptive support the exact millisecond your knee needs it. The wrap-around support system redistributes loads beyond the knee, easing fatigue and reducing muscle vibration.
Engineered for real-world wear, Vastnaut One combines exceptional durability with a remarkably lightweight form. Vastnaut One weighs only 2.7 kilograms for its mechanical structure, with 86% built from carbon fiber. The device is ergonomic and breathable, rated IP54 for dust and water resistance, ensuring reliable performance in changing outdoor conditions.
Vastnaut One Field Testing Validates Real-World Performance
Field testing across the United States and Australia engaged outdoor enthusiasts and professionals in environments from snow-covered mountains to tropical rainforest. Testers reported that the Vastnaut One delivered responsive, intuitive assistance aligned with natural movement.
Harrison Candlin, an outdoor photographer based in Brisbane, Australia, completed a two-day expedition carrying over 15 kilograms of camera equipment. He reported that the exoskeleton significantly eased the journey—reducing perceived load while his heart rate dropped by approximately 30 beats per minute on demanding sections.
"Vastnaut One helps photographers move through long, demanding terrain with less strain and greater endurance," Candlin said. "It allows you to focus entirely on creativity rather than physical discomfort."
The Pre-launch of Vastnaut One is Now Open
Ahead of its upcoming Kickstarter debut in late April, Vastnaut is offering early access to those who want to be first. A fully refundable $10 deposit secures a place in line—along with guaranteed best pricing and exclusive early-backer benefits. You don't have to risk anything, your deposit is 100% refundable.
Reserve your Vastnaut One at website.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Vastnaut One: Designed for Outdoor Explorers to Push Beyond Boundary
