New stock news| Reshape Energy holds a hearing at the Hong Kong Stock Exchange, with total sales output power ranking first in the Chinese hydrogen fuel cell system market.

According to the news from the Hong Kong Stock Exchange on November 14th, Shanghai Reshaping Energy Group Co., Ltd. (hereinafter referred to as "Reshaping Energy") held a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC as the sole sponsor. The prospectus shows that as a leading hydrogen energy technology company in China, Reshaping Energy focuses on the design, development, manufacturing, and sales of hydrogen fuel cell systems, hydrogen equipment, and related components, and provides hydrogen fuel cell engineering development services to meet customer needs, enabling the company to provide a one-stop solution for hydrogen production and end-use applications. In terms of hydrogen fuel cell systems, the company has mainly focused on hydrogen fuel cell systems mounted on heavy-duty trucks during the reporting periods. The company has a good track record in policy-guided projects and market-oriented projects. As the company successfully expands its business to overseas markets, the contribution of overseas market revenue continues to grow, consolidating the company's leading position in the domestic hydrogen energy market. Reshaping Energy's revenue mainly comes from (i) sales of hydrogen fuel cell systems and components; (ii) providing hydrogen fuel cell engineering development services; (iii) sales of hydrogen equipment and related components; and (iv) other, mainly including after-sales services. The revenue breakdown of the company's business segments is as follows: According to Frost & Sullivan data, in terms of the sales output power of hydrogen fuel cell systems by 2023, Reshaping Energy ranks first in the Chinese hydrogen fuel cell system market with a market share of 23.8%. In terms of the total sales output power of hydrogen fuel cell systems mounted on heavy-duty trucks by 2023, the company ranks first in the Chinese hydrogen fuel cell system market with a market share of 42.4%. In terms of the total sales revenue of hydrogen fuel cell systems by 2023, the company ranks third in the Chinese hydrogen fuel cell system market with a market share of 16.2%. In terms of the total sales revenue of hydrogen fuel cell systems mounted on heavy-duty trucks by 2023, the company ranks first in the Chinese hydrogen fuel cell system market with a market share of 29.4%. As of May 31, 2024, the company's hydrogen fuel cell systems have powered over 5,900 fuel cell vehicles in China. Financially, in the fiscal years 2021, 2022, 2023, and the five months ending May 31, 2024, Reshaping Energy's income was approximately RMB 524 million, RMB 605 million, RMB 895 million, RMB 88.068 million, and RMB 125.21 million respectively. During the same period, the gross profit was RMB 61.785 million, RMB 49.823 million, approximately RMB 180 million, -RMB 3.965 million, and -RMB 24.201 million, respectively.