Junlian Capital's investment portfolio company, Reshape Energy, successfully listed on the Hong Kong Stock Exchange, achieving a significant market capitalization and reinforcing its position as a leader in the hydrogen technology industry.

Target Company Overview

On December 6, 2024, Junlian Capital's portfolio company, Reshape Energy (02570.HK), successfully listed on the Hong Kong Stock Exchange, offering a total of 4,827,920 H-shares at a price of HKD 148.9 per share, resulting in a market capitalization exceeding HKD 12.8 billion. Established in September 2015, Reshape Energy is a leading hydrogen technology enterprise with a global perspective, providing a comprehensive range of products and services spanning from hydrogen production to downstream hydrogen applications.

Reshape Energy is recognized as a national specialized and innovative "Little Giant" enterprise and holds the title of the only champion in manufacturing within China's fuel cell sector. The company boasts a high-level, international research and development team, with large-scale production bases in Shanghai, Changshu, and Jiaxing, as well as overseas branches in North America and Europe. It is notable for being the first in the industry to achieve comprehensive independent research and mass production of fuel cell systems, stacks, membrane electrodes, and bipolar plates. In 2023, Reshape Energy ranked first in China’s hydrogen fuel cell system market in terms of total power output sold.

Industry Overview

The hydrogen energy industry is emerging as one of the most promising sectors in the renewable energy landscape, especially in China, where the government actively supports the development of hydrogen as a clean energy source. Hydrogen is recognized for its high efficiency, zero emissions during energy conver