New stock news | Heng Intelligent submits an application to the Hong Kong Stock Exchange as a leader in smart industrial and commercial energy storage solutions.

According to the disclosure by the Hong Kong Stock Exchange on February 9th, Huaheng Intelligent Technology Co., Ltd. (referred to as Huaheng Intelligent) has submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with Huatai International and Zhongyin International as its joint sponsors. Company Profile The prospectus reveals that Huaheng Intelligent is a leader in smart chemical industry energy storage solutions. According to Frost & Sullivan's data, as of the nine months ended September 30, 2025, among 900 lithium-ion battery energy storage system integrators in China's industrial and commercial sector, the company ranked eighth in global industrial and commercial energy storage system shipments and third in overseas markets. The company has always adhered to a global strategy and is one of the first batch of Chinese companies to enter the overseas industrial and commercial energy storage market. The company's business has covered more than 50 countries and regions, with over 600 operational energy storage stations using the company's solutions spanning over 40 industries. The company owns 189 intellectual property rights globally, has obtained over 570 certifications, operates three major research and development centers in mainland China, and has six regional offices and 20 service centers in Europe, Australia, and Hong Kong, China. With its comprehensive hardware and software R&D capabilities, the company provides energy storage solutions for industrial and commercial, grid-side, and residential applications. These solutions are based on the company's products, combined with (i) hardware; (ii) its supporting software platform; and (iii) after-sales service. Each energy storage solution of the company is based on core hardware and managed, optimized, and enhanced by corresponding software. Financial Information Revenue The company recorded revenues of approximately RMB 267 million, RMB 268 million, RMB 125 million, and RMB 476 million for the years ended 2023, 2024, the nine months ended September 30, 2024, and the nine months ended September 30, 2025, respectively. Net Loss The company recorded losses of approximately RMB 154 million, RMB 205 million, RMB 165 million, and RMB 40.398 million for the years ended 2023, 2024, the nine months ended September 30, 2024, and the nine months ended September 30, 2025, respectively. Gross Profit The company recorded gross profits of RMB 22.035 million, RMB 48.511 million, RMB 18.507 million, and RMB 90.774 million for the years ended 2023, 2024, the nine months ended September 30, 2024, and the nine months ended September 30, 2025, respectively. Industry Overview With the growth of downstream markets and technological advancements, the lithium-ion battery energy storage system industry has achieved significant growth. In 2024, the global and mainland China lithium-ion battery energy storage system market sizes reached 230.0 GWh and 118.5 GWh in terms of shipments, with compound annual growth rates of 100.6% and 116.4% from 2020 to 2024. Driven by the continuous transformation of the energy structure, by 2030, the global and mainland China lithium-ion battery energy storage system market sizes are expected to reach 804.5 GWh and 386.7 GWh in terms of shipments, with compound annual growth rates of 23.2% and 21.8% from 2024 to 2030. In terms of application scenarios, lithium-ion battery energy storage systems mainly include industrial and commercial lithium-ion battery energy storage systems, residential lithium-ion battery energy storage systems, and grid-side lithium-ion battery energy storage systems. From 2020 to 2024, the market sizes (in terms of shipments) of industrial and commercial lithium-ion battery energy storage systems, residential lithium-ion battery energy storage systems, and grid-side lithium-ion battery energy storage systems grew at compound annual growth rates of 123.6%, 116.9%, and 97.1%, respectively. Looking ahead, it is expected that the market sizes (in terms of shipments) of industrial and commercial lithium-ion battery energy storage systems, residential lithium-ion battery energy storage systems, and grid-side lithium-ion battery energy storage systems will grow at compound annual growth rates of 28.6%, 25.1%, and 22.4% from 2024 to 2030. The global industrial and commercial lithium-ion battery energy storage system industry is relatively decentralized. As of December 31, 2024, there were approximately 800 suppliers of industrial and commercial lithium-ion battery energy storage systems in mainland China. In terms of global industrial and commercial lithium-ion battery energy storage system shipments in 2024, the top twelve lithium-ion battery energy storage system integrators in China accounted for approximately 28.8%. The company ranked twelfth with a market share of around 1.1%. In terms of global industrial and commercial lithium-ion battery energy storage system shipments in the nine months ended September 30, 2025, the top ten lithium-ion battery energy storage system integrators in China accounted for approximately 32.9%. The company ranked eighth with a market share of around 2.0%. Board of Directors and Executive Team Information The company's board of directors consists of eight directors, three of whom are executive directors, two are non-executive directors, and three are independent non-executive directors. Equity Structure The company's controlling shareholder group members include Mr. Gao, RichMaster, Ruidong Energy Investment Co., Ltd., Wuxi Huaheng, Ruidong Capital Markets Co., Ltd., Ruinao Shanghai, and Shanghai Juhengxin. As of the last feasible date, Mr. Gao controls approximately 56.95% of the voting rights through other members of the controlling shareholder group. Intermediary Team Joint Sponsors: Huatai Financial Holdings (Hong Kong) Limited, Zhongyin International Finance Co., Ltd. Company Legal Advisors: Baker & McKenzie LLP for Hong Kong and U.S. law, Tianyuan Law Firm for Chinese law, Beijing Dacheng (Wuxi) Law Firm for data compliance law Auditors: PricewaterhouseCoopers LLP Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Advisor: Maishi Capital Co., Ltd.