Everyone knows that China dominates battery manufacturing, home to global leader CATL as well as smaller players like CALB and Gotion High Tech (002074.SZ). But far less visible is China’s equally commanding position in the upstream manufacturing equipment segment behind the finished product.
The leader in that space is Wuxi Lead Intelligent Equipement Co. Ltd. (300450.SZ), whose plan for a second listing in Hong Kong, complementing its current listing in Shenzhen, made a key advance last week after receiving approval from China's securities regulator.
As the leader in its class, the company is hoping to follow in the footsteps of CATL, one of its top customers, whose shares have nearly doubled since its own second listing last May that was Hong Kong’s largest for the year, raising more than $4.6 billion.