IPO News | Chuanyuanxin Energy Storage (09621)'s public sale overbought by 1,389 times has stopped subscribing

The Zhitong Finance App learned that Yuanxin Energy Storage (09621), a Chinese integrated energy storage system solution provider, “closed the subscription)” on November 4. Market sources revealed that the public sale portion was subscribed by 60,000 people, oversubscribed by 1,389 times, and involved HK$89.6 billion. The company will start offering shares on October 30. It plans to issue 57,541 thousand H shares, 10% of which will be publicly sold in Hong Kong. The offering price is HK$8.54 to HK$11.1, with a maximum capital raising of HK$640 million, 500 shares per lot, and an entry fee of about HK$5,606 for the first hand. Yuanxin Energy Storage is expected to be listed for sale on November 9, with CMB International as the sole sponsor.

The Group is a supplier of integrated energy storage system solutions in China. It focuses 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 R&D, 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 plants and industrial and commercial applications. According to Frost & Sullivan, the Group ranked 10th in the energy storage system solutions industry in China in 2025 with a shipment volume of 5.4 GWh and a market share of 2.1%.

The Group has entered into a cornerstone investment agreement with CDH Global (Cornerstone Investor). Based on this, Cornerstone Investors have agreed that, subject to certain conditions, the number of relevant offered shares (rounded down to the nearest complete trading unit of 500 H shares per lot) can be purchased for a total amount of approximately HK$31.4 million (excluding brokerage commissions, SFC transaction levies, and SEHK transaction fees). Based on the offer price of HK$9.82 per share (that is, the median of the indicative offer price range set out in this prospectus), the total number of shares to be subscribed by Cornerstone investors will be 3.196,500 H shares, accounting for approximately 5.56% of the shares offered 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 that any share options that may be granted under the pre-initial public offering incentive scheme have not been exercised).