Another IPO was born in the cross-border circle!

In recent years, the cross-border e-commerce circle has continued to be hot. Even though the current global economy is in uncertainty, especially with the intensification of overseas inflation, it is still a piece of fat meat for many cross-border people. From last year to this year, there are still many IPOs in the cross-border circle. Recently, another Shenzhen seller launched an IPO in a low-key manner.

With over 600 million yuan in financing, cross-border sellers are preparing to enter the A-share market

On March 9, Shenzhen DeLan MingHai New Energy Co., Ltd. (hereinafter referred to as "DeLan MingHai") signed a coaching agreement with CITIC Securities, officially launching the A-share IPO process. This news was not announced on the official website of CITIC Securities until last week .

It is reported that the listing guidance filing of Delan Minghai has been approved by the Shenzhen Regulatory Bureau of the China Securities Regulatory Commission . Currently, CITIC Securities is intensively preparing for the listing guidance work of Delan Minghai.

In 2013, DeLanMingHai was formally established, and its business focus is on the research and innovation of distributed energy storage products and microgrid technology . In the same year of its establishment, DeLanMingHai launched the industry's first solar portable energy storage power supply, and then successively launched small and medium-sized commercial photovoltaic energy storage solutions for home use. In 2016 , it expanded its business to automotive power battery manufacturing.

After ten years of development, DeLan Minghai now has three mainstream product lines: portable energy storage, household energy storage and commercial energy storage , and its products have entered nearly 100 overseas markets.

In 2019, DeLan Minghai launched its global independent brand strategy, and established the BLUETTI and BLUETTI brands in China and the United States , which received good market response .

On Amazon, many of BLUETTI's products have achieved impressive sales performance, with some products even making it onto the Best Seller list in the category.

In addition, in 2020 , BLUETTI became the No.1 crowdfunding amount in the energy category as soon as it was launched on the crowdfunding platform INDIEGOGO . In October 2022, BLUETTI set a record for the fastest raising of tens of millions of US dollars on the INDIEGOGO platform .

As of March 1 this year, the total crowdfunding amount of BLUETTI brand's AC500 &B300S home energy storage products exceeded US$12.19 million, breaking the world record of Chinese teams in crowdfunding history .

Not only does the crowdfunding funds seem to be strong, DeLan Minghai has also attracted much attention from capital and has received repeated investments.

Qichacha data shows that from 2021 to 2022, DeLan Minghai received multiple rounds of financial and strategic financing, with a total financing amount of 600 million yuan . Investors include investment institutions such as Source Code Capital, Chalco Zhejiang Junrong Fund, Kunpeng Guangyuan, and Dachen Capital, as well as well-known strategic investors in the industry .

The energy storage market is indeed hot and has great market potential. But among all its peers, why is DeLanMingHai favored by capital and the market?

First of all, it is clear that it attaches great importance to R&D. On the BOSS recruitment software, DeLan Minghai is recruiting engineers for multiple R&D positions, with salaries as high as 40K, and the salary for hardware R&D managers in the energy storage field is up to 60K.

The emphasis on research and development has naturally paid off for DeLanMingHai. In 2022, it officially became a national-level " little giant " enterprise and a high-tech enterprise . As of now, DeLanMingHai has obtained more than 300 valid patents at home and abroad , including more than 70 authorized and published invention patents , more than 100 authorized utility model patents , and more than 150 authorized design patents .

In an era where "products are king", DeLan Ming Hai has multiple patented products, and its business is naturally getting better and better. According to its official introduction, DeLan Ming Hai 's sales business increased by 300% year-on-year in 2022 , and the global sales revenue of portable energy storage products exceeded 2 billion yuan , and it is expected to reach 5 billion yuan in 2023 .

After ten years of establishment, DeLanMingHai, which has been rooted in the market and attaches importance to research and development, has become a leader in the industry.

In 2022, DeLan Minghai became a new guest on the Forbes China New Unicorn List. In addition, it also appeared on multiple lists: the annual top ten portable energy storage power supply list, the EqualOcean China Global Brands Top 100 List, the China Pioneer Overseas Enterprises List, and the China Outdoor Power Brand Ranking TOP20.

Nowadays, Delanminghai is firmly grasping the high demand for portable energy storage overseas, and has set up a presence on cross-border e-commerce platforms such as Amazon, Walmart, and Lazada, and has also established an independent website. Its products are exported to more than 70 countries and regions around the world . In order to better understand market demand, it also has branches in major markets such as Japan, the United States, Germany, Australia, and Nigeria.

With the track becoming increasingly hot and the market potential exploding, it is no surprise that the competition is intensifying.

The 100 billion-level market has exploded, and Chinese energy storage brands are flocking to overseas markets to compete

Statistics from the China Chemical and Physical Power Sources Industry Association show that the global portable energy storage market size was only 60 million yuan in 2016, reaching 11.13 billion yuan in 2021. It is estimated that by 2026, the global portable energy storage shipments and market size will reach 31.1 million units and 88.23 billion yuan respectively.

Compared with China, due to frequent natural disasters, energy crises, and the booming outdoor economy, the overseas demand for portable energy storage products is higher, especially in developed regions such as Europe, the United States, and Japan. Therefore, most Chinese energy storage brands, including DeLanMingHai, focus on overseas markets.

With so many companies rushing into overseas markets, the competitive pressure in this field can be imagined.

Last September, Huabao New Energy , the parent company of the leading brand in the field of portable energy storage, successfully landed on the ChiNext. In addition, Zhenghao and Goal Zero have also appeared in the energy storage product arena .

In overseas markets, due to China's mature energy storage product manufacturing technology and strong industrial chain , it accounts for more than 90% of the global production and shipments of portable energy storage products . Portable energy storage products have also become high-demand and high-potential products for export .

Data shows that among the top five portable energy storage companies in the world in terms of market share in terms of shipments, four are Chinese companies. Huabao New Energy ranks first with a market share of 16.6%, and DeLan Minghai ranks fourth in the world and third in China after Zhenghao Innovation .

In terms of corporate operating income, Huabao New Energy still ranks first, occupying more than 20% of the market share.

Not only the giants mentioned above , but also Xiaomi, Bulls and others have begun to layout the energy storage track .

The popularity of the track naturally makes capital "crazy". One investor said, " Energy storage projects are basically in a state of mad rush. Hundreds of investment institutions are competing for the top projects, and many angel round projects are valued at hundreds of millions of yuan. It's too hot. "

In terms of investment, Hillhouse Capital and Sequoia Capital invested in Zhenghao Innovation, Source Code Capital and Fortune Capital invested in Delan Minghai, Red Smart and others invested in Chipkoda , Rice Ventures and Galaxy Holdings invested in Changya Technology ...

According to incomplete statistics, in 2022 alone , more than 30 domestic energy storage and industrial chain companies successively obtained Round A or Round B financing, forming a round of energy storage financing boom.

Facing the heat of the capital market , market competition in the energy storage sector is becoming more intense and brand influence is growing. How will the various companies in the sector divide up this trillion-level market?

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