July 7, 2010, Chaowei Power Holdings Limited launched its initial public offering (IPO) of 2,500,000,000 shares at HKD2.18 per share for a Hong Kong Stock Exchange main board listing, under the stock code of 00951.HK. The amount of raised funds is HKD 545,000,000.

Established in 1998 and headquartered in Changxing County, Zhejiang Province, Chaowei Power is a leading motive battery manufacturer operating in the fast growing electric bike market in China. Leveraging the top position in the lead-acid battery industry, the company has commenced production of lead-acid motive batteries for electric cars and storage batteries for wind and solar energy.

Jingtian & Gongcheng represented the underwriter in the listing.