Fox ESS has secured approval for its initial public offering (IPO) application from the SZSE. The solar and energy storage company plans to issue up to 90 million A-shares on the ChiNext board, backed by Guotai Haitong Securities, in a bid to raise more than CNY 1.6 billion. The inverter and battery specialist, which was founded in September 2019, said it will use the proceeds to fund construction of an intelligent energy storage industrial park, an R&D center, and a marketing and technical support network.
Hangzhou Gold Electronics said it has also secured approval for its IPO application on the SSE's ChiNext board and plans to issue up to 120 million A-shares to raise no more than CNY 850 million. The company, founded in 1998, specializes in BMS modules for energy storage, backup power, and electric vehicles, and has expanded into integrated control units and data services. It ranked first among China’s top 10 new energy storage BMS companies in 2023, according to a 2024 white paper by the China Energy Storage Alliance (CNESA).
JinkoSolar said its Jinko Power subsidiary will sell eight operational distributed solar projects in China's Zhejiang province to China Construction Bank Leasing for CNY 287 million. The rooftop systems have a combined grid-connected capacity of 76.55 MW. JinkoSolar said the deal is expected to generate a profit equal to 10% to 20% of its most recent audited annual earnings.
J.S. Machine has announced a CNY 150 million capital injection into Runergy through a wholly owned subsidiary, structured as a debt-to-equity swap. The deal is contingent on Runergy first repaying CNY 150 million in outstanding debt owed by its subsidiary. J.S. Machine described the transaction as a typical example of a debt-to-equity swap.
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