The world’s largest supplier of lithium-ion battery copper foil, Londian Wason New Energy Tech Inc. (NYSE:FOIL) set its IPO (initial public offering) price at $22 per American Depositary Share (ADS). The stock opened at $26 per share, taking the company valuation to $2.01 billion. Around 4.3 million ADSs were sold, raising about $94.3 million.
The Shenzhen-based copper foil maker’s debut was the largest US listing by a Chinese company in more than a year and marks a significant milestone in its global expansion strategy, providing additional capital to support manufacturing capacity, research and development, and international growth initiatives.
Leader In Battery Copper Foil
Lithium-ion battery copper foil is a critical component used in electric vehicle (EV) batteries and energy storage systems (ESS). Londian Wason was among the first in the industry to achieve large-scale production of both 4-micrometre high-tensile strength lithium battery copper foil and 6-micrometre copper foil.
According to Frost & Sullivan, Londian Wason was the world’s largest supplier of lithium-ion battery copper foil by sales volume in 2025, with a global market share of approximately 7.6%. During the year, the company sold approximately 111,985 metric tons of LiB copper foil worldwide.
As of Dec. 31, 2025, Londian Wason operated seven manufacturing facilities with a designed annual electrolytic copper foil production capacity of approximately 180,500 metric tons.
Established Customer Base
The company’s customer base includes leading global battery manufacturers such as:
- CATL
- LG Energy Solution
- Panasonic Holdings’ (OTC:PCRFY) Panasonic Industrial Materials
- BYD Company Limited (OTC:BYDDY)
- Samsung’s (OTC:SSNLF) Samsung SDI
Londian Wason has also expanded its technological footprint through a partnership with Nvidia Corp to integrate GPUs, networking, and storage into high-performance computing (HPC) AI applications.
Financial Performance
The company’s financial performance has been supported by continued global demand for electric vehicles and energy storage solutions.
For the first quarter of 2026, Londian Wason reported revenue of RMB 4.073 billion (~$582 million), up 113.7% year-over-year, while net profit grew to RMB 134 million (~$19.2 million).
For 2025, the company generated RMB 10.94 billion (~$1.56 billion) in revenue, representing 24.9% year-over-year growth. Adjusted EBITDA grew 72.8% to RMB 869 million (~$124 million).
Expanding Global Presence
The NYSE listing provides Londian Wason with greater access to international capital markets as the company continues expanding production capacity and strengthening its position within the global battery materials supply chain.
Demand for lithium-ion battery copper foil continues to be driven by accelerating electric vehicle adoption, grid-scale energy storage deployment and broader investments in next-generation energy infrastructure, positioning manufacturers such as Londian Wason to benefit from long-term industry growth.
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