Tianhua New Energy Plans Hong Kong Listing

The Fujian Provincial Department of Industry and Information Technology and four other departments recently issued the Action Plan for the Development of Fujian Province’s Electric Vessel Industry (2026–2028). The Action Plan proposes that by 2028, Fujian will establish systematized supply capabilities for electric vessels and core equipment, achieve an annual manufacturing capacity of 50 electric vessels, and put a cumulative total of 150 electric vessels into operation, including 20 electric vessels deployed outside the province and overseas. Core equipment products will be used on more than 1,500 electric vessels domestically and overseas, and the scale of the entire industry chain for electric vessels will reach 5 billion yuan.

On March 3, 2026, SMM learned that Highpower Technology officially disclosed details of its layout in the sodium-ion battery sector in its 2026 private placement prospectus for A-shares. The company had invested in Siruizhe New Energy, a key sodium-ion battery material enterprise, through industrial investment in March 2023, securing a position in the core track of sodium-ion battery materials. It was reported that Highpower Technology participated in Siruizhe New Energy's capital increase with 2.5 million yuan of its own funds at that time, acquiring a 5% stake upon completion. This investment was not a financial one but rather an industrial layout around the upstream and downstream of the industry chain. The core objective was to obtain sodium-ion battery-related technologies, raw materials, and channel resources, further enhancing the company's core competitiveness.