IPO News | Kangjin Electric Hong Kong Stock IPO Prospectus Expires

The Zhitong Finance App learned that the Hong Kong stock prospectus submitted by Zhuhai Kangjin Electric Co., Ltd. (Kangjin Electric for short) on June 27 expired on December 27. Fosun International Capital and Chuangsheng Finance were co-sponsors at the time of submission.

According to the prospectus, Kangjin Electric is a technology-driven integrated power equipment provider and smart energy management solution provider. With decades of industry expertise, the company has developed a highly competitive “source network cargo storage” integrated platform. The company's system integration capabilities can achieve comprehensive product coverage throughout the life cycle of the power system.

Kangjin Electric is a leading enterprise in the field of power equipment ring network cabinets. According to the Frost & Sullivan report, in terms of 2024 ring network cabinet sales revenue, the company ranked third, accounting for 4.4% of the market share in the Chinese market. In line with the trend of China's accelerated transformation to a new energy-led power system, the company's strategy changed to smart renewable energy solutions in 2016, and participated in the integration of “source network cargo storage” systems in all aspects through wind power, photovoltaics, energy storage, and charging infrastructure systems.