Company: Jiangsu Guoxia Technology Corporation Limited

Date of Prospectus: August 30, 2025

Jiangsu Guoxia Technology Corporation Limited IPO: Comprehensive Investor Analysis, Financial Review, and Listing Outlook

Jiangsu Guoxia Technology Corporation Limited launches a significant Hong Kong IPO, offering exposure to China’s fast-growing energy storage sector. This long-form analysis covers IPO terms, valuation, cornerstone allocations, company financials, growth strategy, risk factors, and the outlook for listing day performance.

IPO Snapshot: Key Terms and Offer Structure

Jiangsu Guoxia Technology Corporation Limited is offering H Shares to investors through a Hong Kong Main Board listing. The IPO is structured for significant institutional and retail participation, featuring cornerstone investors and a robust global coordinator syndicate. Below are the headline terms:

Oversubscription metrics and final allotment results were not disclosed in the available sections.

Growth-Driven Use of Proceeds

Net proceeds from the IPO will be directed primarily toward:

• Research and Development (R&D): Continued investment in new energy storage technology and product innovation.
• Capacity Expansion / Capital Expenditure: Enhancement of production facilities and purchase of a factory, aimed at increasing production efficiency and lowering operational costs.
• Overseas Market Expansion: Targeting growth in Europe and Africa, as evidenced by increased revenue from these regions during the track record period.
• General Working Capital: Strengthening operational liquidity and supporting business scale-up.

This allocation underscores a growth-driven strategy, focusing on R&D, market share expansion, and production scalability rather than deleveraging or debt repayment [[166]].

Dividend Policy and Payout Prospects

No formal dividend policy is currently in place. Future dividend distributions will depend on profitability, operating cash flows, financial condition, capital requirements, and shareholder approvals. The company notes that all dividends are subject to compliance with the Articles of Association and relevant regulations. No specific payout ratios, target yields, or timetable have been committed [[41]].

Placement Breakdown: Public, Institutional, and Cornerstone Allocations

• Hong Kong Public Offering: 3,385,300 H Shares (subject to reallocation)
• International Offering: 30,467,600 H Shares (subject to reallocation, Offer Size Adjustment, and Over-allotment Options)
• Cornerstone Investors: 3 key cornerstone investors subscribing for a total of 3,694,000 H Shares, representing up to 10.91% of the offer [[339]]

Cornerstone allocations are locked in and these investors will not have board representation following the offering. The shares subscribed by cornerstones count towards public float requirements [[339]].

Investor Participation and Book Quality

Cornerstone and institutional participation is robust, as evidenced by the sizeable allocations to prominent funds. The offer structure, including delayed delivery arrangements to support the over-allotment (greenshoe), is designed to facilitate strong market support on listing day. Pre-listing disposals or sales by early investors are not detailed, but all Pre-IPO Investors are subject to a 12-month lock-up post-listing, ensuring alignment with new investors [[165]].

Book quality is expected to be strong given the participation of reputable cornerstones and a wide syndicate of underwriters and coordinators, which typically supports positive first-day performance [[336]].

Deal Parties, Underwriting, and Listing Structure

The IPO is managed by a high-profile syndicate:

• Sole Sponsor: China Everbright Capital Limited
• Joint Overall Coordinators / Global Coordinators / Bookrunners / Lead Managers: China Everbright Securities (HK) Limited, ABCI Securities, West Bull Securities, BOCI Asia, ICBC International, Yue Xiu Securities, and others named in the prospectus [[428]].

Stabilization and Over-allotment: The offering includes a standard greenshoe option (Over-allotment Option) of up to 5,077,900 H Shares (15% of the offer), exercisable by the Joint Overall Coordinators within 30 days post-listing. Stabilization actions may be taken on listing and for up to 30 days thereafter [[438]].

Given the syndicate size and structure, listing-day performance is expected to be actively supported by the bookrunners and cornerstone allocations [[438]].

Company Overview: Renewable Energy Storage Innovator

Jiangsu Guoxia Technology Corporation Limited is a leading renewable energy solutions provider in China, specializing in energy storage systems (ESS) for diverse applications:

• Business Model: Design, development, and sale of ESS solutions and products, serving power grid, commercial/industrial, and residential sectors.
• Key Products/Services: Integrated ESS solutions, residential/commercial storage units, cloud-based digital energy management platforms.
• Revenue Streams: Product sales, solutions integration, software/IoT energy management (monetization through direct sales and solutions contracts).
• Customer Segments: Utilities, grid operators, industrial/commercial enterprises, residential clients.
• Geographic Focus: China (core market), with significant international expansion in Europe and Africa [[10]], [[166]].

Industry Position: Ranked as the 8th largest Chinese ESS provider globally (10th in residential ESS shipment capacity in 2024, with approximately 1% global market share) [[10]].

Financial Health: Key Figures and Metrics

The company has delivered rapid revenue growth and expanded production capacity, underpinned by strategic R&D and capital investment. Key financial indicators (multi-period):

For full financials and notes, see the prospectus at www.hkexnews.hk and www.guoxiatech.com.

Management Team and Corporate Governance

• Chairman/CEO: Mr. Feng
• Other Directors: Mr. Liu, Mr. Zhang, Dr. Bai, Mr. Zhu, Mr. Wang, and others named [[48]]
• Committees: Audit, Nomination, and Remuneration Committees in place [[52]]

Management has deep sector and operational experience, contributing to the company’s rapid growth and strategic clarity.

Sector Trends, IPO Timing, and Market Environment

Industry Trends: The global shift toward renewable energy, decarbonization, and grid modernization is driving robust demand for energy storage systems. Digitalization and cloud integration are emerging as key differentiators. The company is positioned as one of the earliest to achieve full-scenario Internet cloud integration for ESS in China [[10]].

Timing: The IPO period runs December 8–11, 2025, with listing expected on December 16, 2025 [[5]].

Economic/Market Backdrop: The prospectus describes a supportive macro environment, with strong energy demand and favorable regulatory policy for renewables and smart grid technology. Company-specific developments include recent expansion into Europe and Africa, and significant pre-IPO capital raises at rapidly escalating valuations [[165]].

Based on these factors, market conditions appear favorable for the company’s IPO.

Risk Factors: Quantitative and Qualitative Exposures

Investors should be aware of key risks detailed in the prospectus:

• Product Safety & Reliability: Risk of design/manufacturing defects could impact brand and financials.
• R&D Execution: Failure to sustain innovation may impact competitiveness.
• Raw Material Price Volatility: Exposed to input cost swings affecting margins.
• Customer Concentration & Demand Fluctuation: Revenue may be sensitive to a limited number of customers or cyclical demand [[69]].
• FX and Regulatory Risks: International sales expose the firm to currency and compliance risks.
• Data Accuracy: The company relies on external industry data which may not always be accurate or comparable [[96]].
• Dividend Uncertainty: No guaranteed payout policy; future dividends depend on profitability and board discretion [[41]].
• Pre-IPO Investors’ Lock-up: Pre-IPO investors are subject to a 12-month lock-up, reducing immediate sell-down risk [[165]].

For full risk disclosures, including legal, regulatory, and market risks, refer to the prospectus at www.hkexnews.hk or www.guoxiatech.com.

Growth Strategy: Expansion, R&D, and Global Ambition

The company’s growth strategy is multi-pronged:

• R&D Investment: Ongoing focus on advanced ESS technologies and digital platforms.
• Production Expansion: Capex directed at scaling manufacturing capability and operational efficiency, including the purchase of a new factory.
• International Expansion: Accelerating penetration in Europe and Africa, with recent revenue gains from these markets.
• Brand and Market Share: Aim to build a well-recognized brand and increase global market share in residential and commercial ESS.

Ownership, Share Structure, and Lock-up Arrangements

Pre- and Post-IPO Shareholding: Post-IPO, the company will have 506,794,075 shares outstanding, with 33,852,900 H Shares offered in the IPO. Major pre-IPO investors (e.g., Kaibo Hongcheng, Hainan Xuding, Wuxi Luanhua) and management will hold the balance. All Pre-IPO Investors are subject to a 12-month lock-up from the listing date [[165]]. Controlling shareholders and the company itself are restricted from further share sales or issuance for six months post-listing, with additional undertakings for the following six months [[433]].

Valuation and Peer Comparison

The prospectus does not provide a detailed peer comparison table or explicit sector average multiples. However, headline valuation metrics are as follows:

• Post-IPO Market Capitalization: HK\$10,187 million
• Pro Forma Net Tangible Asset Per Share: RMB1.70 (HK\$1.86) as of June 30, 2025 [[39]]

Listing Outlook: Is Guoxia Tech Worth Subscribing?

Based strictly on prospectus disclosures:

• Demand signals are strong from cornerstone and institutional investors.
• Bookrunner syndicate is robust, supporting aftermarket stability and liquidity.
• Financials show rapid growth, with key market share in a fast-growing sector.
• Risks are present but well-articulated, and lock-ups reduce immediate sell-down risk.
• No formal dividend commitment, but growth prospects appear robust.

Expected first-day trading range: The presence of cornerstone investors, substantial bookrunner support, and sector tailwinds suggest a positive debut, with the price likely to open at or above the offer price and strong aftermarket support, barring unforeseen market volatility.

Prospectus Access and How to Apply

Prospectus and application information is available at:

• www.hkexnews.hk
• www.guoxiatech.com

Application Channels: Investors can apply online via the White Form eIPO service (www.eipo.com.hk) or through the HKSCC EIPO channel via their brokers or custodians, who are HKSCC Participants. No physical application channels are provided. The offer period runs from 9:00 a.m. on December 8, 2025, to 12:00 noon on December 11, 2025. Eligibility requires investors to be 18 or older and to have a Hong Kong address (for the White Form eIPO) [[452]].

In summary: Jiangsu Guoxia Technology Corporation Limited offers investors a compelling opportunity to participate in China’s booming energy storage sector. With strong growth credentials, robust cornerstone participation, and the support of a substantial syndicate, the IPO is well-positioned for a successful market debut. For full details and application instructions, visit the company’s or exchange’s official websites.