Investor Appetite for Ningde Time: A Strong Start in Hong Kong

The Chinese technology company, Ningde Time, made its mark on the Hong Kong Stock Exchange (HKEX) on May 20th. With a strong debut day, shares surged by 12.55% from their initial price of HK$263 to close at HK$296.

Following its listing, Ningde Time's latest market capitalization reached approximatelyHK$13.4 billion.

The Hong Kong Initial Public Offering (IPO) attracted significant interest from top-tier investors, including major energy companies and institutional funds. The equity portion raised by the company hit a record-breaking 203.71 billion HKD, accounting for over 40% of the total fundraising amount.

Among these prominent backers include China National Petroleum Corporation (CNPC), Kuwait Investment Authority, Hillhouse Capital, CMC Capital, and others like Royal Bank of Canada, Bofeng Capital, and Utopia Assets.

According to the prospectus, investments came from well-established players such as CNPC (5 billion USD) and Kuwait Investment Authority (5 billion USD) and Hillhouse Capital (2 billion USD).

Ningde Time posted its financial results for the year 2024 shows a decline of 9.70% in revenue, but an increase in its profitable net earnings.

The company's first quarter of 2025 saw a stronger performance with a year-on-year growth of 6.18%. This has left room to hope that this may indicate the potential of the future operations of Ningde Times.

Ningde Time has been continually expanding on its global electric vehicle business strategy. In December 2024, the company announced opening a joint venture in Spain and setting up production sites under the partnership with Stellantis.

This marked Ningde Time’s third significant electric vehicle manufacturing plant in Europe