Core Viewpoint - Kaishan Co., Ltd. is accelerating its globalization process with the signing of a steam supply agreement for a green ammonia project in Kenya, marking a significant expansion into the green hydrogen and ammonia sectors [1][4]. Group 1: Project Details - The new green ammonia project in Kenya has a total investment of approximately $800 million (about 5.68 billion RMB) and is expected to generate annual revenues between $220 million and $250 million over a 25-year operational period [1][3]. - The project will establish a geothermal power plant with a capacity of 165.4 MW and facilities to produce 100,000 tons of green ammonia annually, with plans to increase total production capacity to 200,000 tons [3]. - The project aims to address fertilizer supply issues for Kenyan agriculture, ensuring food security while protecting the environment by preventing the conversion of forests and wetlands into farmland [2][4]. Group 2: Strategic Significance - This project is set to become the largest agricultural project in East Africa and the largest green fertilizer project in Africa, achieving zero carbon emissions during production [4]. - It represents a major strategic breakthrough for the company, expanding its business into the green hydrogen and ammonia sectors and showcasing its advanced technology and commercial capabilities across the geothermal energy, hydrogen production, and ammonia synthesis value chain [4]. Group 3: Company Performance and Globalization - Kaishan Co., Ltd. has seen continuous growth in its performance, with overseas revenue accounting for 50.21% of total revenue in the first half of 2025, indicating a significant shift towards globalization [1][6]. - The company has established three overseas manufacturing bases and has a presence in major global markets, including the U.S., Turkey, and several countries in Africa and Asia [5][7]. - Since beginning its globalization journey in 2016, the company has transformed into a multinational corporation with a diversified revenue structure, laying a solid foundation for becoming a globally influential company [8].

Core Viewpoint - Kaishan Co., Ltd. has signed a steam supply agreement with KenGen for a geothermal power project in Kenya, with a total investment of approximately $800 million, aiming to produce green ammonia and fertilizers [1][2] Group 1: Project Details - The project involves the construction of a geothermal power plant with a capacity of 165.4 MW and a chemical facility capable of producing 100,000 tons of green ammonia annually [1] - The project company plans to purchase low-cost electricity from the national grid to increase total green ammonia production capacity to 200,000 tons per year [1] - Upon reaching full production, the project is expected to yield 180,000 tons of green urea and 300,000 tons of calcium ammonium nitrate, with most sales guaranteed by the Kenyan Ministry of Agriculture [1] Group 2: Financial Projections - The total investment for the project is estimated at $800 million, with projected annual revenue between $220 million and $250 million [1] - The operational period of the project is expected to exceed 25 years [1] Group 3: Company Operations and Performance - Kaishan Co., Ltd. specializes in the research, development, manufacturing, and sales of compressors, as well as geothermal resource exploration and development [3] - In Q3 2025, the company reported revenue of 1.19 billion yuan, a year-on-year increase of 10.45%, and a net profit of 114 million yuan, up 166.33% [3] - For the first three quarters of 2025, the company achieved revenue of 3.44 billion yuan, reflecting a year-on-year growth of 10.65%, and a net profit of 304 million yuan, an increase of 38.05% [3]