From alliance building to profit breakthrough: WING LEE DEV (09639) new energy business sees a breakthrough in "orderization."

On September 11, at the ReThink HK 2025 Sustainable Development Exhibition, the subsidiary of WING LEE DEV (09639), Rongli New Energy, and Sanyi Zhongfu Hong Kong jointly held a strategic cooperation signing ceremony, signing four key agreements at once - a strategic cooperation framework agreement with the Zhonggang Logistics Association, and three procurement intent agreements with Ideal Logistics (Hong Kong) Limited, Liko Transport Services (Asia) Limited, and Desheng Holdings Limited. This signing represents a specific implementation of the Hong Kong Zero Carbon Smart Alliance's strategic blueprint in the commercial field. For WING LEE DEV, it means that its new energy business has officially entered the revenue realization stage from the early stage layout, injecting substantial momentum for optimizing the company's revenue structure. Looking back to May of this year, WING LEE DEV, together with Sanyi Group, Contemporary Amperex Technology, and other leading companies, initiated the establishment of the Hong Kong Zero Carbon Smart Alliance, with the core goal of constructing a "light, storage, charging, swapping, recycling" full chain solution. This signing directly promotes the transformation of business from industrial chain synergy layout and capability reserve to order revenue, becoming a key turning point for the profitability of the new energy sector. In particular, the strategic cooperation framework agreement with the Zhonggang Logistics Association enables the three parties to accurately connect their advantageous resources in the green logistics industry chain. The three parties will jointly implement the highest green logistics standards in Hong Kong, bridging Sanyi's pure electric logistics transportation vehicles, Rongli New Energy's charging and swapping facilities, and the enterprise resources of the logistics association, promoting the development of Hong Kong's green transportation industry on one hand, and paving the way for subsequent scaled orders on the other. Analysts believe that this collaboration is expected to greatly strengthen WING LEE DEV's customer base in the new energy business in the 2025/26 fiscal year, laying a foundation for revenue growth. The most groundbreaking aspect is the procurement intent agreements signed with three logistics companies, which focus on the scaled application of new energy logistics vehicles, supporting charging and swapping services, vehicle maintenance, and battery recycling, all pointing to profitable scenarios that are "implementable and chargeable." These agreements will become short-term revenue increments that can be realized. For investors, this is not only a signal of short-term revenue growth but also signifies that WING LEE DEV has found a sustainable profit path for its new energy business under the policy dividends of Hong Kong's "Carbon Neutral 2050" and "Northern Metropolitan Area". With orders gradually being implemented and the formation of a charging station network, WING LEE DEV is expected to seize the opportunity of green infrastructure in Hong Kong under the dual driving force of "traditional buildings + new energy", achieving a dual breakthrough in revenue and profit.