Key facts
- Hangzhou Gold Electronic Equipment Co., Ltd. shares surged 624.6% on their Shenzhen debut.
- The company raised 850 million yuan through its IPO.
- Investor enthusiasm for AI data centers is driving demand for energy storage systems.
- Gold Electronic plans to use IPO funds for an energy-storage battery management systems manufacturing center.
Shares of energy-storage system maker Hangzhou Gold Electronic Equipment Co., Ltd. surged 624.6% on their debut on the Shenzhen Stock Exchange’s ChiNext board, closing at 51.3 yuan compared to an IPO price of 7.1 yuan. The company raised 850 million yuan through the offering.
This significant debut is fueled by investor enthusiasm for artificial intelligence data centers, which is accelerating demand for energy-storage equipment. Manufacturers like Gold Electronic are increasingly turning to capital markets to fund expansion to meet this growing need.
Gold Electronic plans to allocate 600 million yuan of the IPO proceeds to establish an energy-storage battery management systems manufacturing center. The company's financials show a steady increase in revenue and net profit, with revenue reaching 1.26 billion yuan and net profit hitting 137 million yuan in 2025.