Eve Energy, China’s fifth-largest electric vehicle (EV) battery producer, plans to raise capital by listing on the Hong Kong Stock Exchange.

The Shenzhen-listed company announced on June 10, 2025 that its board approved a fundraising plan to support international expansion.

Details regarding the share offering have not yet been finalized.

The company indicated that the timing of the listing will depend on market conditions.

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🔗 Source: South China Morning Post

🧠 Food for thought

1️⃣ China’s EV battery makers are strategically expanding global footprints amid industry consolidation

Eve Energy’s Hong Kong listing plan reflects a trend of Chinese battery manufacturers seeking international capital to fund expansion beyond domestic markets.

CATL, the world’s largest EV battery maker, successfully raised $5.22 billion in its Hong Kong listing in May 2024, demonstrating strong investor appetite for China’s battery leaders 1.

This capital-raising strategy supports critical supplier relationships with global automakers, as evidenced by Toyota’s partnership with CATL to secure a stable supply of lithium-ion batteries for its EV production targets 2.

The move comes as automakers worldwide are racing to secure battery supply chains, with Toyota aiming for EVs to comprise half of its global sales by 2025 – approximately 5.5 million vehicles 2.

Eve Energy’s international expansion aligns with the industry practice of first securing significant domestic market share before leveraging that position to compete globally in the rapidly growing EV battery market.

2️⃣ Hong Kong emerges as the preferred capital-raising hub for China’s tech and mobility sectors

The flurry of mainland Chinese companies seeking Hong Kong listings represents a strategic shift in where Chinese innovation-focused companies raise capital.

The Hong Kong market has shown strong receptiveness to Chinese tech listings in 2025, with the Hang Seng Tech Index increasing nearly 30% in early 2025 3.

This surge in listings coincides with improved investor sentiment toward Chinese technology companies, particularly those positioned in artificial intelligence and electric mobility sectors 4.

The strong post-IPO performance of CATL, with shares climbing 14% since its May debut, signals investor confidence in China’s EV supply chain leaders and likely encouraged Eve Energy’s similar move 1.

The trend extends beyond batteries to include autonomous driving companies like Pony.ai and component suppliers like Hesai, indicating a broader tech ecosystem migration to Hong Kong’s capital markets.

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