According to a filing with the Hong Kong Stock Exchange on September 10, Guangdong WeiDe New Energy Co., Ltd. has submitted a listing application for the main board, with Guotai Haitong serving as the sole sponsor. The company previously filed its listing application on January 26.
Per the prospectus, WeiDe New Energy is a leading provider of integrated, high-performance, and high-safety micro lithium-ion batteries, dedicated to solving core challenges in micro-battery materials and design. The company's diversified micro lithium-ion battery portfolio is primarily categorized into button cells, cylindrical cells, prismatic and curved cells, and modules. These batteries are widely used across scenarios such as wearable devices, personal smart medical equipment, smart education and entertainment devices, and portable energy storage battery packs.
According to CIC data, WeiDe New Energy has attracted a broad base of end customers, mainly comprising world-leading, internationally renowned smart device and consumer electronics brands. In 2023, 2024, 2025, and the six months ended June 30, 2026, revenue from such end customers accounted for 93.6%, 91.5%, 89.7%, and 85.7% of total revenue in the respective year/period. Based on CIC data, by shipment volume in 2025, the company ranked fourth globally and second among Chinese suppliers in the consumer-grade smart terminal micro lithium-ion battery segment, with a global market share of 4.1%. In the wireless earbud micro lithium-ion battery segment, it ranked second globally and first among Chinese suppliers, holding a 7.5% global market share.
WeiDe New Energy operates three production bases located in Huizhou City (Guangdong Province), Ganzhou City (Jiangxi Province), and Bac Giang Province (Vietnam), each optimized to produce specific battery types while ensuring quality consistency, efficiency, and regulatory compliance. The company focuses on direct sales to customers in China's consumer electronics and medical device industries, supported by sales and service representatives based in the United States, Europe, Mexico, Hong Kong, and Taiwan. Its direct customers mainly include leading domestic and international OEMs and ODMs, who integrate the company's products into their end products before reselling them to end customers.
Financial Highlights: Revenue for 2023, 2024, 2025, and the six months ended June 30, 2026, reached approximately RMB 351 million, RMB 533 million, RMB 565 million, and RMB 337 million, respectively. Profit for the respective year/periods was RMB 6.795 million, RMB 58.096 million, RMB 31.456 million, and RMB 26.345 million. Gross profit for the same periods amounted to approximately RMB 102 million, RMB 186 million, RMB 181 million, and RMB 110 million.
Industry Overview: As global consumer electronics accelerate toward intelligent, high-performance, and portable solutions, terminal manufacturers' demands for battery life, safety, and fast-charging capabilities continue to rise, driving sustained expansion of the consumer-grade smart terminal lithium-ion battery market. In terms of shipment volume, global shipments of lithium-ion batteries for consumer-grade smart terminals grew from approximately 4,334.9 million units in 2021 to approximately 4,478.1 million units in 2025, representing a CAGR of approximately 0.8%. Benefiting from the proliferation of AI-enabled devices, rising penetration of emerging smart devices, and accelerated iterations of consumer electronics, the industry growth rate is expected to climb further to approximately 6.2% between 2026 and 2030. By 2030, global shipments are projected to reach 5,731.2 million units, with the market size maintaining an upward trend. Micro lithium-ion battery shipments increased from approximately 1,268.8 million units in 2021 to approximately 1,517.4 million units in 2025, representing the largest share with steady growth. From 2026 to 2030, sustained high growth is expected, with a CAGR of 7.3% during this period.
Board Composition: The board will consist of nine directors, including two executive directors, four non-executive directors (including one employee representative director), and three independent non-executive directors. Directors serve three-year terms and are eligible for re-election.
Shareholding Changes: As of the latest practicable date, Mr. Chen Zhiyong, Mr. Xu Jiangtao, Zhuhai Jiwang, Huizhou Jiwang, Shenzhen WeiDe, Zhuhai WeiNeng, Zhuhai WeiDian, and Zhuhai JiYi constitute a group of controlling shareholders. Guangdong WeiChu New Energy Co., Ltd. is 60% owned by the company, with the remaining 40% held by independent third party Xinyue New Energy Technology (Shenzhen) Partnership (Limited Partnership).
Intermediary Team: Sole Sponsor: Guotai Junan Capital Limited; Industry Advisor: CIC Consulting; Legal Advisors: Jones Day, AllBright Law Offices, and Dedica Law Firm Limited; Independent Auditor and Reporting Accountant: KPMG; Compliance Advisor: Altus Capital Limited.