BUSINESS

AI Power Demand Sends Energy Storage Supplier Up 625% in Shenzhen Debut

Published: Jun. 9, 2026 11:42 p.m. GMT+8

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The booth of Gold Electronic in Shanghai. Photo: IC

Shares of energy-storage system maker Hangzhou Gold Electronic Equipment Co., Ltd. surged 624.6% in their debut on the Shenzhen Stock Exchange’s ChiNext board Tuesday, as investor enthusiasm for artificial-intelligence data centers spilled into the power-storage supply chain.

The blockbuster listing underscores how the global buildout of AI infrastructure is accelerating demand for energy-storage equipment, prompting manufacturers to turn to capital markets to fund expansion.

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Shares of Hangzhou Gold Electronic surged 624.6% on debut, closing at 51.3 yuan versus IPO price of 7.1 yuan, driven by AI data-center demand.
Revenue rose to 1.26 billion yuan in 2025 from 919 million in 2024; net profit increased to 137 million yuan from 98 million.
The company raised 850 million yuan via IPO, planning to use 600 million yuan for an energy-storage battery management systems manufacturing center.

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Who’s Who

英文名: Chinese: 杭州金电子设备股份有限公司 English: Hangzhou Gold Electronic Equipment Co., Ltd.

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What Happened When

1998：: Hangzhou Gold Electronic Equipment Co., Ltd. was founded as a lead-acid battery testing company.

2022：: Gold Electronic launched an international expansion strategy, exporting directly and working with domestic system integrators to win contracts in Europe, North America, Central Asia, and Southeast Asia.

2023：: Gold Electronic's revenue was 779 million yuan and net profit was 88 million yuan.

2024：: Gold Electronic's revenue was 919 million yuan and net profit was 98 million yuan.

2025：: Gold Electronic's revenue rose to 1.26 billion yuan and net profit increased to 137 million yuan.

As of late June 2025：: Gold Electronic ranked among China's top five battery management system suppliers by operating capacity at electrochemical energy-storage stations, according to data from the China Electricity Council.

First half of 2026：: Gold Electronic expects revenue to rise 14.8% to 26.9% from a year earlier in 2025, while net profit is projected to increase 23.6% to 36.65%.

First quarter of 2026：: China's newly installed new-type energy-storage capacity reached 27.1 gigawatt-hours, up 76% from a year earlier in 2025, while independent energy-storage capacity jumped 205% to 23 gigawatt-hours.

Tuesday in 2026：: Shares of Gold Electronic surged 624.6% in their debut on the Shenzhen Stock Exchange’s ChiNext board. The stock opened sharply higher and rose as much as 799% intraday before closing at 51.3 yuan ($7.5) a share, compared with its IPO price of 7.1 yuan. The company raised 850 million yuan through the IPO.

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