China’s leading company in the “A+H” market, Sanda Technology Co., Ltd., has successfully launched its initial public offering (IPO). As of May 8, 2025, at 10:48 AM, the market has shown positive interest in Sanda Technology’s IPO, which is expected to raise substantial funds.
On May 8, Sanda Technology’s shares started trading on the Hong Kong Stock Exchange (02865.HK) and the Shenzhen Stock Exchange (002865.SZ), marking its entry into the A+H market. By 10:05 AM, the share price had risen by 3.39%, reaching HKD 22.9 per share, with a total market capitalization of approximately HKD 67 billion.
On May 7, Sanda Technology set its IPO price at HKD 22.15 per share. At the time of listing, the offering was oversubscribed, indicating strong demand. The Hong Kong offering was oversubscribed by 10%, while the domestic offering was oversubscribed by 90%. Notably, the Hong Kong offering garnered 3.5 times the subscription, while the domestic offering attracted 1.08 times.
Ultimately, Sanda Technology’s listing raised around HKD 12.92 billion. According to preliminary estimates, 75% of the funds will be allocated towards constructing a 5 GW offshore wind power generation facility, specifically aimed at establishing high-capacity energy production.
Sanda Technology’s IPO is seen as a significant step forward, especially in light of the ongoing push for renewable energy projects both domestically and internationally. The company plans to utilize the funds for multiple projects, including design, implementation, and continued expansion of its offshore wind capabilities, with a target completion date set for 2025.
Additionally, about 8% of the funds will be used to enhance N-type TOPCon technology, while 7% will go towards construction and strengthening international partnerships and sales channels. The remaining 10% will support operational costs and other related expenses.
By early 2024, Sanda Technology intends to make its debut on the market, but it has faced challenges due to delays and unsuccessful promotions. In October of last year, the company had to re-evaluate its strategy and adapt to the market’s evolving landscape.
Since the beginning of this year, Sanda Technology has shown resilience in the face of market fluctuations, even as it faced significant competition. The company has successfully navigated through these challenges, and as of April 21, it reported robust revenue growth.
The latest figures suggest that Sanda Technology is now among the successful companies in the renewable energy sector, particularly focusing on the production of solar panels and other energy technologies. The company’s market share and growth trajectory reflect its commitment to expanding its footprint in the renewable energy arena.
As it stands, Sanda Technology is now a key player in the offshore energy market, and its success could serve as a benchmark for other companies looking to enter the renewable energy sector.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/chinas-leading-ah-power-generation-company-enters-market-with-significant-plans/
