Jingwu Financial News | Guozheng International Research Institute has pointed out that Acme Intl Hldgs (01870) was listed on the Hong Kong Stock Exchange main board in 2019, mainly engaged in engineering business in the past. After the listing, with the change in market environment, Acme Intl has actively sought opportunities to develop new businesses, and in recent years, the company has started to focus on the green electricity index business. Currently, Acme Intl's green electricity index business includes domestic electrical utilities market sales, overseas photovoltaic and other new energy markets; and focuses on the development of new energy electrical utilities business in the Southeast Asia region.
The bank pointed out that in recent years, the domestic electrical utilities market reform has been progressing vigorously. The total amount of market trade electricity of various types accounts for 39% of the total social electricity consumption in 2019, increasing to 61.4% by 2023. The electrical utilities market is flourishing. The company seizes the opportunity of the accelerated reform of the domestic electrical utilities market and actively promotes domestic electricity market sales business. According to the announcement, the company has obtained market sales licenses from Guangdong, Shandong, Hunan, and Guangxi Electrical Utilities Trading Centers, and has started sales operations in the respective markets. The company's customers consume over 2 billion kilowatt hours. In the first half of 2024, the company's sales business contributed revenue of 6.359 million Hong Kong dollars, accounting for 7.6% of the total revenue. The company plans to expand its business in provinces such as Shanxi where the spot markets are mature in the future.
The bank believes that with the company accelerating its focus on green energy businesses, including domestic electrical utilities market sales, overseas new energy market, Southeast Asia wind power business, the green energy business is expected to grow rapidly and become a driving force for the company's future performance growth. It is recommended that investors pay attention to the opportunities in the company's green energy business development.
