Key facts
- Chinese copper foil maker Londian Wason Energy Tech filed for a U.S. IPO.
- The company seeks to capitalize on growing demand from electric vehicle makers.
- Londian claims to be the world's largest supplier of lithium-ion battery copper foil by sales volume in 2025, with a 7.6% global market share.
- For the first quarter of 2026, Londian reported a net profit of 134.5 million yuan ($19.81 million) on revenue of 4.07 billion yuan.
- SK Group owns 29.5% of Londian through Golden Pearl EV Solutions.
Chinese copper foil maker Londian Wason Energy Tech has filed for an initial public offering in the United States, seeking to capitalize on the growing demand from electric vehicle manufacturers. The filing signals a tentative return of Chinese issuers to U.S. equity markets after geopolitical tensions between Washington and Beijing had previously curbed such listings.
The U.S. IPO market is showing signs of recovery, with the second quarter of the year being the largest for IPO proceeds since 2021, even excluding SpaceX's significant offering. Londian claims to be the world's largest supplier of lithium-ion battery (LiB) copper foil by sales volume in 2025, holding a 7.6% global market share, according to a Frost & Sullivan report.
For the three months ended March 31, 2026, Londian reported a net profit of 134.5 million Chinese yuan ($19.81 million) on revenue of 4.07 billion yuan. This contrasts with a net loss of 68.4 million yuan on revenue of 1.91 billion yuan in the same period a year prior. South Korea's SK Group holds a 29.5% stake in Londian through its wholly owned unit, Golden Pearl EV Solutions.
The company plans to utilize the proceeds from the IPO for global production expansion, research and development, and general corporate purposes. Londian intends to list its shares on the New York Stock Exchange (NYSE), with Cantor, Huatai Securities, CMB International, and US Tiger Securities serving as the lead underwriters for the offering.