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Hengxin Technology Ltd. ( (HK:1085) ) has provided an announcement.
Hengxin Technology’s wholly owned subsidiary, Zhangyu Energy Storage (Chengmai) Co., Ltd., has obtained in-principle consent from Hainan Power Grid Co., Ltd. for grid connection of its Zhangyu 200MW/400MWh independent energy storage project in Chengmai County, Hainan Province. The project, which will connect to the 220kV Yulou Station via a new 5km transmission line, is designed to provide grid auxiliary services including peak shaving, valley filling and frequency regulation. The board views this grid-connection consent as a key milestone toward commissioning, aligning with the group’s core strategy in new energy and energy storage and expected to support future business growth and revenue, while shareholders are urged to exercise caution in trading the company’s shares.
The most recent analyst rating on (HK:1085) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Hengxin Technology Ltd. stock, see the HK:1085 Stock Forecast page.
More about Hengxin Technology Ltd.
Hengxin Technology Ltd., incorporated in Singapore and listed in Hong Kong, operates through subsidiaries with a strategic focus on new energy, related services and energy storage solutions, positioning itself within China’s rapidly developing clean energy infrastructure market.
Average Trading Volume: 205,824
Technical Sentiment Signal: Sell
Current Market Cap: HK$619.2M
See more insights into 1085 stock on TipRanks’ Stock Analysis page.