HK Stock Market Move | ZHIDA TECH (02650) rises over 6%, the plan to double the number of charging piles in three years is introduced. Institutions are optimistic about the increase in charging pile construction speed bringing incremental growth.

ZHIDA TECH (02650) rose more than 6%, as of the time of writing, it rose by 6.53% to 199 Hong Kong dollars, with a turnover of 6.5339 million Hong Kong dollars. On the news front, on October 15, the National Development and Reform Commission and other departments jointly issued the "Action Plan for Doubling the Service Capacity of Electric Vehicle Charging Facilities in Three Years (2025-2027)", which clearly proposes a substantial increase in the construction scale of private charging facilities. The plan released this time requires all newly built residential areas to construct or reserve charging facilities for fixed parking spaces, and existing residential areas to supplement charging facilities through renovation, while simultaneously upgrading supporting power grids. The goal is to have 28 million charging facilities by the end of 2027, meeting the charging needs of over 80 million electric vehicles, and achieving a doubling of service capacity. As the world's largest provider of home electric vehicle charging solutions, ZHIDA TECH has deeply laid out its three-in-one mode of "product + service + digital platform". According to Frost & Sullivan data, the company has a global market share of around 9.0% for home charging piles and a market share of 13.6% in China, ranking first in sales in the Chinese market. Huatai believes that the action plan provides a top-level design for the development of the charging pile industry, sets bottom-line targets, is expected to drive the release of charging pile demand, and sees opportunities for charging pile main body enterprises, charging module enterprises, and operation enterprises to achieve performance increment with the high-quality development of the industry.