At the start of 2026, RelyEZ Energy and HSC New Energy have respectively launched their Hong Kong listing plans. With a focus on large-scale energy storage systems and forward-looking deployment in solid-state battery materials, the two companies are kicking off their global expansion drive.
RelyEZ Energy Embarks on Its H-Share Listing Journey
On January 9, according to a release from the Hong Kong Exchanges and Clearing Limited (HKEX), Shenzhen RelyEZ Energy Technology Co., Ltd. submitted an application for listing on the Main Board of HKEX, officially launching its H-share listing initiative.
Founded in 2019, RelyEZ Energy is dedicated to providing global customers with R&D, manufacturing and sales services for energy storage system solutions and products. Its integrated energy storage system solutions cover large-scale, industrial and commercial application scenarios.
According to the prospectus, in the first three quarters of 2025, RelyEZ Energy posted a total revenue of RMB 880 million. A breakdown of the revenue shows that:
Revenue from large-scale energy storage system solutions reached RMB 817 million, accounting for 92.7% of the total revenue with a gross profit margin of 18.3%;
Revenue from energy storage system product sales stood at RMB 52.47 million, making up 6% of the total revenue with a gross profit margin of 5.4%.
In the first three quarters of 2025, RelyEZ Energy’s total energy storage sales volume hit 2.46GWh, including 1.35GWh of integrated energy storage system solutions and 1.12GWh of energy storage system products. The average selling price (ASP) of integrated energy storage system solutions was RMB 0.44/Wh, while the ASP of energy storage system products reached RMB 0.38/Wh.
In terms of overseas market expansion, RelyEZ Energy initiated its overseas business development in the second half of 2024. In the first three quarters of 2025, the company recorded a revenue of RMB 8.6 million from American customers. To date, it has entered into sales contracts or purchase orders with clients from 9 countries and regions, including China, the United States, Japan, Hungary, Poland and Spain.
Regarding production capacity, as of the first three quarters of 2025, RelyEZ Energy operates three production plants in Jiangsu and Yunnan provinces. Among them, the Zhenjiang plant in Jiangsu is fully operational, while the Yao’an and Dali plants in Yunnan have mass production capabilities.
HSC New Energy: Proposes H-Share Issuance and Listing on HKEX
On January 8, HSC New Energy issued an announcement stating that it is planning to issue overseas shares and list on the Stock Exchange of Hong Kong Limited.
As of the announcement date, the company is in discussions with intermediary institutions regarding the specific details of this H-share issuance and listing, and the specifics have not yet been finalized.
HSC New Energy is mainly engaged in electronic chemicals and special organosilicons, and is a leading supplier in the fields of Vinylene Carbonate (VC) and Fluoroethylene Carbonate (FEC). Its products are widely applied in new energy vehicles, photovoltaic power stations, 3C products and other sectors.
HSC New Energy entered the electrolyte additive market in 2003. At present, its products have established partnerships with well-known lithium battery industry chain manufacturers such as Mitsubishi Chemical, BYD, Tianci Materials, Guotai Huarong, Enchem and Capchem, covering markets in Asia, Europe, America and other regions.
In addition to its traditional business, HSC New Energy has made a forward-looking layout in the solid-state battery industry chain, and has completed laboratory trial production of various solid-state/semi-solid-state battery-compatible materials, such as electrolyte additive Lithium Bis(trifluoromethanesulfonyl)imide (LiTFSI), high-purity lithium sulfide, new silicon-carbon anodes, single-walled carbon nanotube conductive agents, etc. Currently, the company’s 2-ton-per-year lithium sulfide pilot line is mainly used to cooperate with downstream electrolyte and battery enterprises for technical verification, and has not yet achieved industrialization or generated sales revenue.
In the first three quarters of 2025, HSC New Energy achieved a total operating revenue of approximately RMB 539 million, a year-on-year increase of 62.29%; the net profit attributable to shareholders of the listed company was approximately RMB -103 million, representing a year-on-year reduction in losses.
Source：EnergyTrend