At the recent Shanghai SNEC International Photovoltaic Exhibition, Sige Xinneng launched the 2026 base strategy in an all-round way. It also released new products and system solutions for large-scale ground photovoltaic power stations, large photovoltaic bases and large-scale energy storage scenarios .
This means that Sige Xinneng has completed the re-expansion of its business territory, formally entering the large-scale photovoltaic and energy storage track from the long-cultivated household and industrial and commercial markets .
It is worth mentioning that just two months before the launch of the strategy, Sige Xinneng also successfully landed on the Hong Kong Stock Exchange. As of the close on June 8, Sige Xinneng closed at 392.
At first, the revenue of SGX was not impressive, only 58.3 million yuan in 2023. However, in just three years, Sige Xinneng has witnessed explosive growth, with revenue exceeding 9 billion yuan in 2025, an increase of 154 times .
In addition to the explosive growth of revenue, in terms of product shipments, Sige Xinneng has already achieved the world's first shipment of "stackable distributed optical storage integrated machine" in 2024, with a market share of 28
. The photovoltaic storage track continues to be hot, and the current Shanghai SNEC Photovoltaic Storage Conference is the most intuitive manifestation: the integration of photovoltaic storage has become the standard of the photovoltaic industry, and energy storage practitioners have piled up to enter.
But under the tuyere is also a big wave of sand, fierce market competition also makes many enterprises exit. And why does this new optical storage company, which has been established for less than four years, "stand out" from it? According to the
data, Xu Yingtong, founder of Sige Xinneng, joined Huawei in 1999 and served for nearly 23 years. In 2015, he led the team to make Huawei Photovoltaic " to May 2022, and Xu Yingtong founded Sige Xinneng. At that time, Zhang Xianzhao, former vice president of Huawei Intelligent Photovoltaic , and the backbone of software, brand and channel lines were also "running away" with him.
With 23 years of precipitation in Huawei, Xu Yingtong has the courage to lead Sige Xinneng to rise rapidly in a short time.
On the other hand, it benefits from the enthusiastic pursuit of many investment institutions in the capital market.
As a listed company focusing on "AI + integration of optical storage" in the Hong Kong stock market, the cornerstone investors gathered by Eng Xinneng's IPO can line-ups be the top match. Temasek, Goldman Sachs Asset Management, Gaolu, UBS Asset Management, Wells Fargo Fund and other top sovereign funds at home and abroad have entered the market to escort them. The total subscription of cornerstone investors in
this round is about 280 million US dollars (about 2.192 billion HK dollars). According to the issue price, the subscription shares account for 49% of the total global offering.
More than that, in fact, six rounds of market-oriented financing have been completed before Sige Xinneng landed in the capital market. In the second month after its establishment, the company completed the seed round of financing, with a valuation of 100 million yuan; by January 2024, when the B1 round of financing was completed, the valuation jumped to 41.
It is noteworthy that SigenStor, the first household storage product of SigenStor, was first launched in Germany in June 2023. Before that, the company has already completed four rounds of financing, with a valuation as high as 27.
It has won the favor of major well-known institutions when there is no formed product. The fundamental reason is that the capital bet that this team with "Huawei gene" can reproduce the story of Huawei inverter in the energy storage track. Li Liang, founding partner
of Gaolu, once commented that Xu Yingtong's team demonstrated "the profound system engineering ability and strong global landing execution of China's top manufacturing veterans" and was a "scarce and cherished partner".
Finally, it is the promotion brought by the favorable policy of energy storage.
At present, the global green and low-carbon development strategy has been further promoted, and countries have taken the green transformation of energy as their development goals. However, due to the " such as photovoltaic, the European Union has established the target that the installed capacity of energy storage should reach 200 GWh by 2030, allocated more than 10 billion euros to support energy storage, and large-scale energy storage enjoys a certain proportion of investment tax credits, etc.
Nearly 100 billion market value!
According to the prospectus information, the performance of SigenStor has shown explosive growth, and the core is almost entirely dependent on the fist product SigenStor . Data show that from 2023 to 2025, the sales revenue of this product accounted for 96.4%, 90.6% and 92% of the total revenue, respectively.
With the outbreak of the optical storage industry, the strategy of betting on a single core product allowed the company to quickly reap market dividends. However, the highly centralized product structure also means that enterprises have very poor risk hedging ability.
In addition to the single product structure, the market layout of Sige Xinneng is also highly dependent on overseas .
According to the prospectus, in 2025, the company's overseas revenue accounted for 99%, of which Asia-Pacific and Europe contributed more than 91% of revenue, while domestic revenue accounted for only 1%, compared with 12% in 2023.
In this regard, Sige Xinneng also admitted in the prospectus that "the gross profit rate of overseas markets is higher". This may also explain why its revenue has achieved an astonishing increase of 154 times in just three years. Another headache
for Sige Xinneng is the rising trade receivables and notes receivable. Data show that the company's payment has surged from 20.26 million yuan in 2023 to 25 yuan at the end of February 2026. This means that the company's book sales are rising steadily, but the actual repayment has been delayed.
According to an exclusive report by Interface News, Huawei accused it of patent infringement and submitted a request for settlement of patent infringement disputes to the local Intellectual Property Office on April 3, 2026. In the
report, Huawei claimed that Sige Xinneng and its affiliated companies were suspected of infringing two core patents- "inverter bus voltage adjustment method and device" and "global maximum output power determination method and device".
However, on April 14, according to the 21st Century Economic Report and other media, Huawei claimed more than 10 infringing patents , involving the core products of Sige Xinneng, photovoltaic storage inverters and industrial and commercial photovoltaic inverters.
On the same day, Sige Xinneng responded that "it always abides by relevant laws and regulations and attaches importance to intellectual property protection". As of the publication of this article, Huawei has not disclosed more details about the dispute.
Once the infringement is confirmed, SigenStor, the core product of SigenStor, which contributes more than 90% of its revenue, may be banned or forced to rectify, and its business will be severely damaged. Even if a settlement is finally reached, the high patent licensing fees and compensation costs will greatly reduce its original rich profit space.
manufactured by Sige Xinneng has the risk of overheating damage and fire, The Australian Competition and Consumer Commission (ACCC) has requested a recall of its single-phase 8/10/12 kW energy controllers.
At that time, the product was on the market on a large scale for less than a year. However, Sigexin can respond quickly and proactively and initiate a voluntary recall, which has limited financial impact on its 2025, accounting for less than 1% of its total annual revenue.
Now, in the face of the new severe challenge of patent disputes, can this "dark horse" of optical storage save the day again? databm.com/hot/2433/" target="_blank" style="color: #4284f4; text-decoration: underline; "Data-word =" "> Digital New Energy DataBM.
浙公网安备33010802003254号