We offer comprehensive EV charging solutions which primarily include the DC fast chargers named the C6 series and the C7 series, the advanced battery-integrated DC fast chargers which we call Net Zero Series (“NZS”), as well as our accompanying services. (Incorporated in the Cayman Islands)

Our integrated solution combining proprietary charging technology, energy storage technology and accompanying services significantly improves EV charging efficiency and unlocks the value of energy storage and management. We were a leading high power charger supplier in Europe by sales volume in 2022, according to Frost & Sullivan. As of the date of this prospectus, we have begun the commercial deployment of our NZS solution in Europe, North America and Asia. Customers of NZS solutions include EV manufacturers, global energy players and charge point operators.

The increasing adoption of EV and renewable energy has brought fundamental changes to the demand and supply of electricity. Not only has electricity demand increased in aggregate, peak demand patterns have also changed. In addition, the intermittent nature of renewable energy generation has led to greater energy supply fluctuation. As a result, there is an imminent need for energy storage solutions to balance electricity demand and supply in order to increase energy utilization and reduce the pressure of grids. According to Frost & Sullivan, the global market size for energy storage by revenue is expected to reach US$90.0 billion by 2026.

As a pioneer in the EV charger industry, we believe EV charging is essentially an energy management business that uses innovative technologies and creative solutions to tackle energy problems. Leveraging our established fast charging technology, as well as our in-house proprietary energy storage system (“ESS”) technology, we have pioneered a unique advanced battery-integrated EV charging solution, NZS. NZS chargers integrate DC fast chargers with lithium-ion batteries and our proprietary energy management system, storing power when it is generally more available (for example, during nighttime) and discharging power when the demand is high (for example, during daytime).

Our NZS solution enables fast charging at low power locations or vis-à-vis aged grid infrastructures (which typically are not compatible with fast charging equipment) with no significant site improvements or grid upgrades needed. With the unique “plug-and-play” design, our NZS chargers are easy to install and highly deployable in locations where conventional fast chargers cannot be installed, for example national parks, parking lots or communities with insufficient power capacity. Therefore, we believe that our NZS solution is able to address a larger market, which cannot be reached by conventional fast chargers.

Our NZS solution is one of the earliest and currently one of the very few commercialized EV chargers designed with a Battery-to-Grid (“B2G”) function, according to Frost & Sullivan. It enables energy to be purchased during off-peak hours at lower prices, and sold back to the grid during peak hours at higher prices, enabling operators to generate profit even if no vehicle is charging. With this unique feature, our customers can achieve a return even before considering the utilization of the EV charger itself. This increases the overall return on investment (“ROI”) for our customers. At the core of our NZS solution is our proprietary energy management system (“EMS”), which automatically optimizes energy supply and usage across the grids, batteries and EVs.

**Note: Net loss and revenue are in U.S. dollars for the 12 months that ended Dec. 31, 2023.

(Note: XCHG Ltd. priced its small IPO at $6.20 – near the low end of its $6.00-to-$8.00 price range – and sold the full 3.33 million American Depositary Shares (3,333,335 ADS) – to raise $20.7 million on Monday night, Sept. 9, 2024. Background: XCHG Ltd. filed an F-1/A dated Aug. 30, 2024, in which it disclosed that US Tiger Securities is the sole book-runner; Huatai Securities is no longer a joint book-runner on the IPO.)

(Note: XCHG Ltd. filed an F-1/A on Aug. 16, 2024, and increased the size of its IPO to 3.33 million American Depositary Shares (ADS) – up from 3.15 million ADS previously – and kept the price range at $6.00 to $8.00 to raise $23.31 million.)

(Background: XCHG Ltd. filed an F-1/A on July 29, 2024, and disclosed the terms for its IPO: 3.15 million American Depositary Shares (ADS) at a price range of $6.00 to $8.00 to raise $22.05 million. In the filing, XCHG Ltd. changed the ratio of its ADS to ordinary shares to: Each ADS now represents 40 ordinary shares – compared with 20 ordinary shares in the F-1/A filed on June 10, 2024. The July 29, 2024, SEC filing also disclosed that US Tiger Securities is now in the “lead left” position as a joint book-runner – along with Huatai Securities as a joint book-runner – while Deutsche Bank Securities is no longer on the book-running team. )

(Background: XCHG Ltd. filed an F-1/A on June 10, 2024, without disclosing terms for its IPO of American Depositary Shares (ADS) – other than to say that each ADS represents 20 ordinary shares. In that June 10, 2024, filing, XCHG Ltd. also updated its financial statements to state results for the year that ended Dec, 31, 2023.  Original Background: XCHG Ltd. filed its F-1 on Feb. 1, 2024, without disclosing terms for its IPO.)