New stock news | Keywin Technology publicly filed with the Hong Kong Stock Exchange, providing solutions for tower-type concentrated solar power generation and molten salt energy storage.

According to the disclosure by the Hong Kong Stock Exchange on September 24, Zhejiang Kesheng Technology Co., Ltd. (referred to as "Kesheng Technology") has submitted its listing application to the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as the sole sponsor. The prospectus shows that Kesheng Technology is one of the world's leading providers of tower-type concentrated solar power and molten salt energy storage solutions. The company focuses on technology research, equipment sales, and engineering applications, with full lifecycle service capabilities from project development, construction consulting to post-operation support. According to Frost & Sullivan's report, as of September 16, 2025, Kesheng Technology is the only company globally with experience in over 1GW of molten salt tower-type concentrated solar power projects. According to Frost & Sullivan, from 2021 to 2024, a total of 20 tower-type solar thermal projects in China have started substantial construction and have confirmed suppliers for the concentrated solar power system. Kesheng Technology has provided concentrated solar power systems for 11 of these projects, with a total installed capacity of 1250MW. Calculated by installed capacity and number of projects, the market share reaches 57.9% and 55.0% respectively. In terms of the industry, with policy support and market reform, China's solar thermal power industry has entered a stage of commercialization. The National Development and Reform Commission and the National Energy Administration released the "Large Wind-Solar PV Base Planning and Layout Scheme focused on desert, Gobi, and desert areas" in January 2022, specifying that by 2030, China will plan to build wind-solar bases with a total installed capacity of about 455 million kilowatts. In the past performance period, Kesheng Technology has maintained a leading position in the market in providing concentrated solar power systems and heat exchange systems (two core subsystems of solar thermal power plants). The company has also expanded its services and product portfolio with operation tools empowered by software and artificial intelligence. In November 2024, the company's independently developed 350MW solar thermal project in Geermu, Qinghai successfully entered the demonstration (pilot) project for solar thermal power in Qinghai Province in 2024. The above project is currently the world's largest single-unit designed capacity solar thermal power plant, using the industry's first "three towers one unit system" solution. The Geermu 350MW project in Qinghai is expected to start construction in the second half of 2025, further consolidating the company's market leadership. In terms of finances, in the fiscal years of 2022, 2023, 2024, and the six months ending on June 30, 2025, the company achieved revenues of approximately 20.85 million, 0.858 billion, 2.189 billion, and 0.981 billion Chinese yuan respectively. During the same period, the annual/periodic profits were approximately -91.259 million, 2.48 billion, 5.4 billion, and 2.33 billion Chinese yuan respectively.