Core Viewpoint - Hainan Huatie is planning to issue shares overseas (S shares) and list on the Singapore Exchange to accelerate its international strategy and promote the establishment of overseas intelligent computing centers, particularly in Southeast Asia [1] Group 1: Internationalization and Business Transformation - Hainan Huatie, formerly known as Huatie Emergency, is transitioning from high-altitude equipment rental to intelligent computing and low-altitude economy, leveraging state-owned enterprise resources and private sector flexibility [2] - The company announced an investment in intelligent computing center construction in May 2024, with signed contracts for computing services reaching 6.67 billion yuan, a 169% increase from the end of 2024 [2] - The company is deepening partnerships with ecosystem enterprises like DeepSeek to strengthen its intelligent computing industry chain [2] Group 2: Funding Needs and Market Positioning - The construction of intelligent computing centers in Southeast Asia requires significant foreign currency investment, with overseas revenue in 2024 only at 1.31 million yuan and a gross margin of -35.63% [3] - Listing in Singapore will allow the company to directly raise foreign currency, mitigate exchange rate risks, and meet infrastructure investment needs [3] - The Singapore Exchange listing is expected to enhance international client recognition and facilitate long-term computing service agreements [3] Group 3: Business Expansion and Capital Opportunities - The company plans to accelerate the dual export of equipment and computing services, with nearly 600 units of engineering equipment in South Korea and plans to expand into the Middle East by 2025 [4] - Hainan Huatie is exploring the blue ocean of Real World Asset (RWA) tokenization, having collaborated with Ant Chain to put high-altitude equipment assets on the blockchain [5] - The potential for computing devices and high machinery assets to become RWA targets could open up a market exceeding 100 billion dollars, with the current RWA market size over 22 billion dollars [6] Group 4: Diversification and Risk Management - The company has diversified its business, with a market share of 25% in traditional high machinery equipment, an increase in forklift rental rates from 8% to 84%, and over ten million yuan in orders for cargo drones [7] - The Singapore listing is seen as a critical leap for Hainan Huatie's transformation from a "Chinese equipment rental leader" to a "global computing service provider," with potential to alleviate funding pressures for overseas expansion [9]
海南华铁赴新交所上市：跨境融资破局高负债 加速东南亚算力出海
Xin Lang Zheng Quan·2025-06-06 09:56