Core Viewpoint - Kesheng Technology Co., Ltd. has officially submitted its main board listing application to the Hong Kong Stock Exchange, marking a significant step for the company in the renewable energy sector, specifically in molten salt tower solar thermal power generation [1]. Company Overview - Founded in 2010, Kesheng Technology specializes in providing comprehensive solutions for molten salt tower solar thermal power generation [1]. - The company was established by Jin Jianxiang, who has a background in industrial control and previously co-founded a successful DCS (Distributed Control System) company [4][6]. Technology and Operations - The molten salt tower solar thermal power generation process involves a tall receiver tower with molten salt at the top, surrounded by movable heliostats that concentrate sunlight to heat the salt to temperatures between 500°C and 600°C [3]. - Kesheng Technology employs a light asset operation strategy, focusing on high-value core technology and equipment supply while outsourcing production to qualified suppliers [7]. Market Position and Performance - Kesheng Technology is the only company globally with experience in projects exceeding 1GW in molten salt tower solar thermal power generation [7]. - The company holds a leading market share in China's tower solar thermal project market, with a 57.9% share in installed capacity and a 55.0% share in project numbers from 2021 to 2024 [7]. - Revenue projections show significant growth, with expected revenues of 208.5 million yuan, 858 million yuan, and 2.189 billion yuan for 2022, 2023, and 2024 respectively, alongside a turnaround to profitability in 2023 [7]. Industry Insights - The solar thermal power generation sector is expected to grow, with China planning to add 4,750MW to 4,800MW of installed capacity by 2024, indicating a broad development space for the industry [8]. - Solar thermal power generation serves as both a peak-shaving power source and energy storage solution, positioning it as a stabilizing force within the renewable energy landscape [8].