Hangzhou-based Hangke Technology was founded in 1984 and successfully listed on the STAR Market in 2019. The firm provides customers with overall solutions regarding batteries, especially with lithium-ion post-processing battery systems.
On September 19, 2022, Hangke Technology, a sought-after Chinese battery manufacturer that is currently listed on STAR Market, announced that in order to explore domestic and overseas business and improve its system of lithium equipment, it plans to issue global depository receipts (GDRs) on the SIX Swiss Exchange. Regarding the purpose of its overseas listing, Hangke said that it hoped to continue to deepen the layout of the world’s main lithium markets, improve its global sales capacity, and increase its penetration in key areas overseas. Strengthening technical innovation and the level of R&D is also an important consideration for Hangke. The company will build R&D centers in countries with advanced battery technology and recruit local personnel.
In the first half of 2022, Hangke achieved operating revenue of CNY 1.955 billion (USD 279 million), up 81.94% year on year, while the net profit attributable to the parent company reached CNY 241 million, up 90.71% year on year. Its sales revenue in China and overseas markets in the same period reached CNY 1.75 billion and CNY 205 million respectively. Overseas sales revenue also showed a 320% year-on-year increase.
Hangzhou-based Hangke Technology was founded in 1984 and successfully listed on the STAR Market in 2019. The firm provides customers with overall solutions regarding batteries, especially with lithium-ion post-processing battery systems. Hangke's global customers include Samsung SDI, LG Chem, SKI, CATL, BYD, and EVE Energy.
In February 2022, China expanded the scope of application of interconnection of depositary receipts business between Chinese and overseas stock exchanges. Overseas, the stock exchange scope was expanded to major European markets such as Switzerland and Germany. With the introduction of this regulation, A-share listed companies began to go public in Switzerland due to its simple issuance and approval process, as well as its investors with sufficient capital and rich experience.