On January 27th, 2025, Beijing Time, Qiming Venture Partners' portfolio company HyperStrong, a leading provider of battery energy storage systems (BESS) in China, successfully debuted on the Shanghai Stock Exchange's Science and Technology Innovation Board (the "STAR Market"). 

HyperStrong (SHSE:688411) was issued at RMB 19.38 per share and closed at RMB 63.80, representing an increase of 229.21% from the issue price, with a market capitalization of RMB 11.339 billion.

Qiming Venture Partners has been an early investor in HyperStrong since 2015 and has continued to support the company's growth through subsequent funding rounds. HyperStrong's successful IPO marks Qiming's first IPO milestone of 2025.

Founded in 2011, HyperStrong has established itself as a trusted partner in the global transition to renewable energy. The company provides a wide range of energy storage solutions including liquid-cooling energy storage systems, outdoor cabinets, all-in-one charging and storage systems for utility-scale, commercial and industrial uses.

With the increasing global demand for renewable energy, utility-scale energy storage systems have become essential for ensuring grid stability and safety. HyperStrong has positioned itself as a top-tier BESS provider, leveraging its strengths in battery digital modeling, energy and thermal management, big data platform, system integration, and rigorous testing capabilities. These technologies enable HyperStrong to meet the diverse and evolving needs of its customers.

According to S&P Global Commodity Insights, HyperStrong ranked among the top three BESS integrators in terms of global capacity installed in 2023.

Alex Zhou, Managing Partner of Qiming Venture Partners, and Dr. Jianhui Zhang, Chairman and CEO of HyperStrong

Dr. Jianhui Zhang, Chairman and CEO of HyperStrong, expressed his vision for the company: “HyperStrong remains committed to unlocking the full lifecycle value of energy storage systems. We aim to deepen our presence across the energy storage value chain, enhance our integration capabilities, and foster a collaborative innovation ecosystem. By advancing digital applications, hardware-software synergies, and comprehensive  solutions, we will drive rapid product innovation to meet the ever-changing needs of the global market.”

Alex Zhou, Managing Partner of Qiming Venture Partners, said, "Over the past decade, we have supported HyperStrong as an investor, shareholder, and board member, steadfastly accompanying the company throughout its remarkable growth. We have witnessed HyperStrong leverage its cutting-edge R&D, strategic market insights, and relentless spirit of innovation to become a leader in the competitive energy storage industry. Today's successful IPO is not only a major milestone in its journey but also the start of an exciting new chapter full of potential. As the global energy sector undergoes a transformative shift, energy storage has become a critical pillar of this change. We expect HyperStrong to continue leading the way in technological innovation, solidifying its position as a key player in the global energy storage market."