ZENERGY to raise HK$504 million through discounted H-share placement

Shanghai (Gasgoo)- On October 17, Chinese battery supplier ZENERGY announced it had signed a placement agreement with its exclusive placing agent to issue 45.92 million new H-shares at HK$10.98 per share.

The new share placement represents roughly 3.19% of ZENERGY's issued H-shares and 1.83% of its total share capital. If fully subscribed, the deal is expected to raise approximately HK$504 million in gross proceeds, or about HK$500 million net after deducting expenses, with a net issue price of around HK$10.9 per share.

ZENERGY plans to allocate about 70% of the proceeds to fund Phase II construction of its new production plant in Changshu, Jiangsu. Around 10% will go toward establishing a pilot line for all-solid-state batteries, while the remaining 20% will support R&D and working capital. The company said the capital raise will strengthen its financial position, bolster competitiveness, and underpin long-term sustainable growth.

ZENERGY currently operates at full capacity with an annual production of 25.5 GWh. The company expects to add another 10 GWh once Phase I of its new Changshu plant comes online in the fourth quarter of 2025, with all capacity already secured by customer orders. Phase II, scheduled for completion by the end of 2026, will contribute an additional 15 GWh—also fully covered by long-term client programs. Upon completion, ZENERGY’s total production capacity will reach 50.5 GWh, aligning closely with its growing customer demand.

In August, ZENERGY marked a major milestone in the solid-state battery segment by hosting an airworthiness certification and mass production launch event at its Changshu headquarters. The company's exclusively supplied aviation power battery system was approved by the Civil Aviation Administration of China (CAAC) for use in the RX1E—the country's first two-seat electric fixed-wing aircraft—paving the way for mass deliveries.

The production-ready aviation battery system adopts a dual semi-solid-state architecture, enhancing both safety and high-rate discharge performance. It delivers significantly longer flight duration and range while improving battery lifespan, fast-charging capability, and thermal stability. These technical advances have provided critical support for the RX1E's airworthiness certification and paved the way for its commercial rollout.