New stock news | Oudong New Energy submitted an application to the Hong Kong Stock Exchange, becoming China's largest independent third-party electric exchange solution provider.

On December 12th, O-Dynamic New Energy Co., Ltd. (hereinafter referred to as "O-Dynamic New Energy") submitted its application to the Hong Kong Stock Exchange Main Board, with CMB International as the sole sponsor. According to the prospectus, based on the revenue generated from the operation of charging stations by 2024, O-Dynamic New Energy is the largest independent third-party charging solution provider in China. According to the prospectus, O-Dynamic New Energy is a leading company in the charging industry in China, dedicated to establishing a comprehensive product and service portfolio covering the charging ecosystem. The company can efficiently manage charging equipment, vehicles, and batteries through its independently developed smart energy service platform, thereby better meeting user needs. O-Dynamic New Energy's business began with operating its own charging stations, gradually expanding its business to include the sale of charging equipment and providing operational services. The company has already established a comprehensive portfolio of charging stations covering a variety of vehicles, functions, and application scenarios. During the historical period, O-Dynamic New Energy's charging stations mainly provided charging services for passenger cars. The company has also been establishing charging stations for commercial vehicles, including light trucks, light cargo trucks, and heavy-duty trucks, to create a complete charging solution. As of June 30, 2025, O-Dynamic New Energy has upgraded nine charging stations, now supporting charging for passenger cars and light trucks. Through the smart energy service platform of O-Dynamic New Energy, the company digitizes the connection and management of electric vehicles, charging stations, and batteries. As of June 30, 2025, O-Dynamic New Energy has been facilitating charging services in major markets in China (such as Northeast China, North China, Southwest China, and East China) through 267 owned sites, operational services provided to 62 third-party sites, and independent platform services provided to 192 third-party sites. As of June 30, 2025, over 130,000 electric vehicles have been registered on O-Dynamic New Energy's smart energy service platform. The platform provides comprehensive digital management capabilities for charging services, including on-site operational monitoring, asset management, equipment maintenance and safety control, and timely collection and analysis of key operational data to support more efficient and reliable service operations. According to data from the company's smart energy service platform for the years 2022, 2023, 2024, and the six-month period ending on June 30, 2025, the average daily number of charging services completed at sites connected to the company's platform reached 120 times, 164 times, 190 times, and 206 times respectively. In addition, O-Dynamic New Energy has innovatively introduced the V2S2G system, enabling bidirectional energy transfer between electric vehicles and charging stations, as well as between charging stations and the power grid. Through Station-to-Grid interaction ("S2G"), charging stations can not only draw power from the grid but also return stored energy to the grid when it is under strain. In terms of market opportunities, charging solutions are increasingly valued in the energy supplementation industry. The global pure electric vehicle industry has developed rapidly in recent years, with China becoming a global leader in the adoption of pure electric vehicles, with sales growing from 1.1 million units in 2020 to 6.9 million units in 2024, representing a compound annual growth rate of 57.0%. It is expected that sales will reach 19 million units by 2030, with a compound annual growth rate of 18.5% between 2024 and 2030. During this period, pure electric passenger cars, including operational vehicles (such as ride-sharing vehicles, taxis, and emerging autonomous taxi models driven by advancements in autonomous driving technology), and private vehicles are the core of the market penetration DRIVE. The charging industry in China has become an important supplement to traditional charging infrastructure, able to replenish energy in minutes and alleviate the problem of inefficient seasonal charging. Continuous improvements in battery swapping technology, coupled with declining battery production costs, have enhanced the economic feasibility of swapping operations. This is supported by policy measures, the continuous expansion of charging networks, and the increasing diversification of electric vehicle models compatible with battery swapping. The market size of the charging industry in China has increased from RMB 1.5 billion in 2020 to RMB 10.3 billion in 2024, with a compound annual growth rate of 61.1%. It is expected to reach RMB 70.5 billion by 2030, with a compound annual growth rate of 37.8% between 2024 and 2030. Financially, according to the prospectus, O-Dynamic New Energy's revenue for the past years 2022, 2023, 2024, and the first half of 2025 were RMB 1.106 billion, RMB 1.155 billion, RMB 926 million, and RMB 324 million respectively.