On the morning of February 11, Wuxi Lead Intelligent Equipment Co., Ltd. successfully rang the opening bell at the Hong Kong Stock Exchange, marking its official listing on the Main Board and the beginning of a new chapter built on dual capital platforms in both the A-share and H-share markets.
A number of leading global investment institutions and brokerage firms—including Oaktree Capital Management, Pinpoint Asset Management, Aspex Management, Morgan Stanley, JPMorgan Chase and CITIC Securities—attended the ceremony alongside representatives of key customers such as Contemporary Amperex Technology Co., Limited. Together with the company’s management team, they witnessed a milestone moment as Lead Intelligent Equipment (hereafter referred to as LEAD) stepped onto the global capital stage—also marking an important moment for China’s high-end manufacturing sector on the international stage.
Looking back over more than two decades of development, LEAD’s growth story reflects not only the journey of a private Chinese enterprise deeply committed to intelligent manufacturing and the new energy sector, but also the broader rise of Chinese manufacturing from small beginnings to global competitiveness.
In 1999, Wang Yanquing founded the company in a modest workshop on the shores of Taihu Lake, driven by a vision of contributing to national industrial development. Through perseverance and innovation, he led the company in navigating industry challenges and capturing emerging opportunities.
By continuously expanding its global footprint and business scope, LEAD has gradually evolved from a single-equipment developer into a global provider of intelligent manufacturing solutions across multiple industries, including lithium-ion batteries, photovoltaics, 3C electronics, automotive manufacturing, intelligent logistics, hydrogen energy, and smart factories.
Each milestone achieved along this journey reflects the collective effort of employees, trusted partners, visionary investors, and strong support from government institutions. As Chairman Wang noted during his remarks: “This achievement belongs to every friend who has stood with LEAD through the journey.”
Today, standing at the new starting point of its Hong Kong listing, LEAD has built a solid industry position and strong core competitiveness, supported by impressive operational performance.
According to the company’s earnings forecast, net profit attributable to shareholders is expected to reach between RMB 1.5 billion and RMB 1.8 billion in 2025.
Innovation remains the company’s central growth engine. Over the years, LEAD has consistently invested more than 10% of its annual revenue in research and development, building a professional R&D team of nearly 5,000 engineers. To date, the company has secured over 3,336 authorized patents, with 100% independent intellectual property rights covering its core equipment—making it one of the few lithium-ion battery equipment suppliers in the industry with a fully self-owned technology portfolio.
In the solid-state battery field, LEAD has taken the lead in achieving end-to-end process integration, launching a complete production-line solution with 100% proprietary intellectual property. The company has already delivered multiple dry-process mixing and coating systems to leading battery manufacturers and automotive companies both in China and overseas.
In the photovoltaic equipment sector, the company’s self-developed XBC stringer machines have achieved cumulative deliveries exceeding 30 GW, ranking among the leading providers of photovoltaic intelligent equipment.
With high-quality products and strong service capabilities, LEAD has established strategic partnerships with top global automakers and battery manufacturers, exporting its equipment to more than 25 countries and regions, including South Korea, Germany, and Japan, while continuing to deepen its global market presence.
The successful listing on the Hong Kong Stock Exchange marks the official entry of LEAD into the era of dual capital market operations through its A-share and H-share platforms.
This milestone not only provides the company with a broader capital platform to support global expansion, technology R&D upgrades, and industrial chain extension, but also further strengthens its international influence and industry voice, injecting new momentum into the company’s long-term, high-quality growth.
During the listing gala dinner, Executive Director Wang Lei spoke on behalf of the management team, emphasizing that the listing is not the destination, but a rallying call toward higher ambitions. “Standing on Hong Kong’s international capital stage, our vision will become broader and our steps more determined. Looking ahead, LEAD will devote itself to writing three new chapters.”
Anchoring Innovation to Build a New Engine
LEAD will continue to push into technological frontiers. In fields such as solid-state batteries, AI-driven intelligent manufacturing, and robotics, the company aims to overcome technological barriers, help define industry standards, and advance toward the realization of truly unmanned factories—strengthening its technological moat through breakthrough innovation.
Embracing Globalization to Shape a New Landscape
With Hong Kong as a strategic hub, LEAD will accelerate its global expansion strategy. The company seeks not only to bring Chinese intelligent manufacturing equipment to the global market, but also to integrate global innovation resources. Through collaboration with international partners—from technology cooperation to capital partnerships—LEAD aims to explore new possibilities for intelligent manufacturing worldwide.
Staying True to Its Mission to Build a Shared Future
No matter how far the company expands, LEAD remains committed to its founding mission of advancing industrial progress. By promoting green intelligent manufacturing, the company will actively fulfill its social responsibilities and contribute to the global pursuit of carbon neutrality, ensuring that the benefits of intelligent manufacturing extend to every corner of the world.
The Hong Kong listing represents a major milestone in LEAD’s development history, and a new starting point for the company’s journey toward greater globalization and technological leadership.
Looking ahead, LEAD will seize this opportunity to uphold its commitment to technological innovation, deepen its presence in the new energy intelligent manufacturing sector, further strengthen its technological advantages, expand its global market presence, and continue fulfilling its social responsibilities—contributing to the high-quality development of China’s high-end manufacturing industry on the global stage.
