SIEYUAN HKEX IPO Filing Lapses; Ranks Third among Domestic Private Enterprises in Power Transmission, Distribution and Control Equipment

NewTimeSpace News: The listing application submitted by Sieyuan Electric Co., Ltd. to the HKEX on 11 February 2026 has lapsed, as it has been pending for six months. CITIC SEC served as the original sole sponsor.

The Company is a global manufacturer of power transmission and distribution equipment and a provider of comprehensive power and energy solutions. With more than three decades of presence in the energy sector, it focuses on the R&D, design, manufacturing and sales of power transmission and distribution equipment and core components, spanning six core business lines: switchgear, transformers, protection and automation, power electronics, energy storage systems and components, and EPC, with products widely applied in diverse scenarios including power grids, new energy, metallurgy, petrochemicals, transportation and data centers.

According to Frost & Sullivan, by 2024 revenue in China's power transmission, distribution and control equipment market, the Company ranked eighth among international enterprises, fifth among domestic enterprises and third among domestic private enterprises, with a market share of 3.5%. By 2024 revenue in China's switchgear market, it ranked fourth among domestic enterprises and third among domestic private enterprises; in disconnectors, it ranked second among domestic enterprises and first among domestic private enterprises; and in instrument transformers, it ranked second among domestic enterprises and first among domestic private enterprises. As of 30 September 2025, its business has covered more than 100 countries and regions worldwide, with the share of overseas revenue continuing to rise.

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