We advised XCHG on its IPO and Nasdaq listing

Davis Polk advised XCHG Limited (XCharge) on its SEC-registered initial public offering of 3,333,335 American depositary shares (ADSs) for total proceeds of approximately $20.7 million. Each ADS represents 40 Class A ordinary shares of XCharge. XCharge has granted the underwriters an option to purchase up to an additional 500,000 ADSs. The ADSs are listed on the Nasdaq Global Market under the symbol “XCH.”

XCharge offers 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 named Net Zero Series, as well as accompanying services. XCharge’s integrated solution combining proprietary charging technology, energy storage technology and accompanying services significantly improves electric vehicle charging efficiency and unlocks the value of energy storage and management.

The Davis Polk corporate team included partners Li He and Ran Li and registered foreign lawyer Xiaofei Ye. Associates Kelli A. Rivers and Ya Sheng Lin provided tax advice. Associate Harrison Perry provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, London and New York offices.

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