IPO News | Yuanxin Energy Storage (09621) Said to Have Public Offering Oversubscribed 1,389 Times, Subscription Closed

Yuanxin Energy Storage (09621), a Chinese supplier of integrated energy storage system solutions, closed its subscription ("cut off") on November 4. Market sources revealed that its public offering was subscribed by 60,000 people, with an oversubscription of 1,389 times, involving HK$89.6 billion. The company began its offering on October 30, planning to issue 57.541 million H shares, with 10% for public offering in Hong Kong, at an offer price of HK$8.54 to HK$11.1 per share, raising up to HK$640 million, with a board lot of 500 shares and an entry fee of approximately HK$5,606 per board lot. Yuanxin Energy Storage is expected to be listed for trading on November 9, with CMBI as the sole sponsor. The group is a supplier of integrated energy storage system solutions in China, focusing on providing comprehensive energy storage system solutions, hardware products, software systems/platforms and supporting services, covering all key stages of energy storage projects from energy storage asset development and delivery to operation and management. The group is engaged in the research and development, manufacturing and sales of energy storage system solutions and products, and provides supporting services to customers in China and overseas. The group's energy storage system solutions and products can be applied to various scenarios, including large-scale energy storage power stations and commercial and industrial applications. According to Frost & Sullivan, the group ranked tenth in China's energy storage system solutions industry in 2025 with shipments of 5.4 GWh and a market share of 2.1%. The group has entered into a cornerstone investment agreement with CDH Global (the cornerstone investor), pursuant to which the cornerstone investor has agreed, subject to certain conditions, to subscribe for the number of offer shares that can be purchased at an aggregate amount of approximately HK$31.4 million (excluding brokerage commission, SFC transaction levy, AFRC transaction levy and Stock Exchange trading fee) (rounded down to the nearest whole board lot of 500 H shares) (the cornerstone investment). Based on the offer price of HK$9.82 per offer share (being the mid-point of the indicative offer price range set out in this prospectus), the total number of offer shares to be subscribed by the cornerstone investor will be 3,196,500 H shares, representing approximately 5.56% of the offer shares under the global offering and approximately 0.78% of the total issued share capital of the Company immediately after the completion of the global offering (assuming no options that may be granted under the pre-IPO share option incentive plan are exercised).