Lithium-ion battery developer China Aviation Lithium Battery (CALB) has filed for a Hong Kong IPO with the hope of raising up to $1.5 billion in the listing.
The company is ranked in the top 10 lithium-ion battery makers in the world with a 2.7% share of the market in 2021, according to market analysts SNE Research.
The firm specialises in R&D, production, sales and development of lithium batteries and materials, battery management systems and energy storage batteries.
On 7 February, the company started construction of the CALB Xiamen Phase III project, which will be implemented in phases— after the completion of the Phase I, II and III projects, the annual production capacity of the base will be 60GWh.
Last year, CALB had a total of 100GWh actual capacity, which included mass production, under construction projects and projects just started.
The company, which was launched in 2007, initially had a 14-year plan to exceed 200GWh of planned capacity— however, last November CALB announced the expansion of its production capacities to more than 500GWh by 2025.
From January to October, 2021, the company achieved a total of 6.4GWh installed capacity of lithium-ion batteries, ranking it China’s third biggest manufacturer.
Since the beginning of 2021, CALB has set up seven industrial bases in Changzhou, Luoyang, Xiamen, Chengdu, Wuhan, and Hefei.
It also plans to increase research and development, with research institutes in Shenzhen, Shanghai, Changzhou, and Chengdu.
Its industrial bases and R&D centers in Europe and North America have entered the planning phase.