New stock news | Guoxia Technology passed the hearing of the Hong Kong Stock Exchange, and the proportion of domestic large storage income in 2024 has reached nearly 80%.

According to the disclosure on December 3 by the Hong Kong Stock Exchange, Fruit Xia Technology Co., Ltd. (referred to as Fruit Xia Technology) conducted its listing hearing on the Main Board of the Hong Kong Stock Exchange, with EB SECURITIES International as the exclusive sponsor. As a provider of renewable energy solutions and products in the Chinese energy storage industry, Fruit Xia Technology focuses on research and development and provides energy storage system solutions and products to its customers and end users. The company's energy storage system solutions and products serve and cover various application scenarios such as large-scale power supply side, large power grid side, industrial and commercial, and residential, suitable for the Chinese and overseas markets. According to Zhui Shi Consultancy, Fruit Xia Technology is one of the early participants in the industry to achieve the internet cloud integration and development of digital energy management panoramic internet cloud platform for energy storage system solutions and/or products. During the previous reporting period, there was a significant shift in Fruit Xia Technology's product structure, with the largest revenue contribution changing from 72.1% of total revenue in the European market residential energy storage system products and solutions in 2022, to 76.6% of total revenue in the Chinese large-scale energy storage system products and solutions in 2024. This trend has continued for the six months ended June 30, 2025, reflecting the group's dynamic response to market opportunities and policy developments rather than a fundamental change in business focus. The business logic behind this shift lies in Fruit Xia Technology's flexibility in adapting to market strategies. Since 2023, due to favorable policies supporting energy storage development introduced by the Chinese government, including the "Energy Carbon Peak and Carbon Neutrality Standardization Enhancement Action Plan," the "Accelerated Green and Low-Carbon Innovation Development Action Plan for Electric Power Equipment," the "Green and Low-Carbon Advanced Technology Demonstration Project Implementation Plan," and the "Energy Work Guiding Opinions for 2024", the group began strategically prioritizing the layout of large-scale energy storage systems in China. These policies have created a favorable regulatory environment, driving rapid domestic demand growth, prompting the group to increase local delivery scale in 2023 and 2024 through capacity enhancement and resource allocation. In 2022, Fruit Xia Technology had not yet started production of large-scale energy storage system products and industrial and commercial energy storage system products but provided technology and production planning to third-party manufacturers and outsourced production to them. In 2023, the group began construction of the production line for self-designed large-scale energy storage systems and industrial and commercial energy storage system products. The group adopted a modular and platform-based technological strategy to systematically upgrade and migrate the core technology of residential energy storage systems business. Additionally, Fruit Xia Technology expanded the production capacity of various energy storage system products comprehensively, transformed its product portfolio, and led to a substantial increase in total capacity from 45.5 MWh for the year ended December 31, 2022, to 1,561.2 MWh for the year ended December 31, 2024. In particular, the production capacity of large-scale energy storage system products and industrial and commercial energy storage system products has been strategically expanded. The group started constructing a self-designed production line for large-scale energy storage system products and industrial and commercial energy storage system products in 2023. Starting from May 2024, the second production line successfully started operation, doubling the production capacity. The group's strong research and development capabilities, combined with its existing technologies (including Fruit Xia AI, HANCHU AI assistant, and Safe ESS platform) and industry-leading proprietary IoT platform, can be applied to large-scale energy storage system projects in China. Fruit Xia Technology leverages Fruit Xia AI to enhance office efficiency and research and development effectiveness through automatic data organization, instant report generation, and workflow optimization. This supports the Safe ESS application for real-time monitoring and system dispatch. The HANCHU AI assistant uses specialized energy models to support voice interaction and intelligent forecasting, providing end-to-end services. Fruit Xia Technology primarily obtains new business in China through strategic partnerships, active project support, and leveraging its own project management experience. The group maintains long-term relationships with major industry participants. For example, Fruit Xia Technology has entered into a strategic cooperation agreement with CALB Technology Group Co., Ltd. and jointly established a large energy storage ecosystem with customer F. At the same time, Fruit Xia Technology actively assists potential customers in project planning, bidding/tendering processes, and undertakes commissioned EPC services or equipment supply. Fruit Xia Technology focuses on large state-owned energy groups, including the "Five Big and Six Small" and the "Two Networks and Two Builds," all key participants in the large-scale energy storage system market. These state-owned energy groups not only control the majority of the reserve projects for large energy storage systems but also lead the development of industry technical standards and procurement benchmarks. The group has successfully been selected as a potential supplier for these groups and plans to actively participate in their bidding processes to secure stable project reserves for large-scale energy storage system businesses. This arrangement allows the group to significantly increase the average contract size and total number of contracts awarded, thereby driving sustained business growth. In terms of performance, Fruit Xia Technology achieved revenues of approximately RMB 142 million, RMB 314 million, RMB 1.026 billion, and RMB 691 million in the fiscal years 2022, 2023, 2024, and for the six months ended June 30, 2025, respectively. During the same period, profits were RMB 24.277 million, RMB 28.148 million, RMB 49.119 million, and RMB 5.575 million, respectively.