HONG KONG, June 22, 2026 - (ACN Newswire) - Offering Highlights:
- The Hong Kong Public Offer will close at 12:00 noon on Tuesday, June 23, 2026 (applications via White Form eIPO service will close at 11:30 a.m. on the same day);
- Total number of Offer Shares under the Global Offering: 10,112,280 H Shares (subject to the Over-allotment Option);
- Number of Hong Kong Offer Shares: 1,011,240 H Shares (subject to reallocation);
- Number of International Placing Shares: 9,101,040 H Shares (subject to reallocation and the Over-allotment Option);
- Offer Price: HK$39.55 per Offer Share;
- Board lot size for trading: 60 H Shares per board lot;
- Maximum net proceeds from the Global Offering: approximately HK$339.9 million (before the exercise of any Over-allotment Option);
- Expected listing date on the Main Board of The Stock Exchange of Hong Kong Limited (the 'Stock Exchange'): Friday, June 26, 2026.
- Joint Sponsors: China International Capital Corporation Hong Kong Securities Limited and CMBC International Capital Limited.
KEYTOP PARKING INC. ('Keytop' or 'the Company', stock code: 2272.HK) officially launched its global offering on June 17, 2026. China International Capital Corporation Hong Kong Securities Limited and CMBC International Capital Limited act as the Joint Sponsors of the offering. China International Capital Corporation Hong Kong Securities Limited, CMBC International Capital Limited, SDIC Securities (Hong Kong) Limited and Skyvast Securities Limited serve as the Joint Global Coordinators.
KEYTOP PARKING INC., a leading player in China's smart parking space operation industry, is a premier AI smart parking service provider to be listed in Hong Kong. The Company principally engages in three core business segments: smart parking systems, smart parking management services, and parking facility and platform operations.
The Company provides comprehensive parking solutions covering a wide spectrum of scenarios including large commercial complexes, office buildings, residential communities, public facilities, hotels, scenic spots, schools, hospitals and logistics parks. According to an independent report commissioned from CIC Consulting, based on revenue generated in 2024, Keytop ranks second in China's smart parking space operation market with a market share of 3.3%. Drawing on nearly two decades of in-depth industry experience and an extensive network of parking lots and end users, the Company is well-positioned to cater to massive parking demand across the country.
The Global Offering comprises 10,112,280 H Shares (subject to the Over-allotment Option), consisting of 1,011,240 Hong Kong Offer Shares (subject to reallocation) and 9,101,040 International Placing Shares (subject to reallocation and the Over-allotment Option). The Offer Price is fixed at HK$39.55 per H Share, with each trading board lot consisting of 60 H Shares. The Hong Kong Public Offer commenced on Wednesday, June 17, 2026, and is scheduled to close at 12:00 noon on Tuesday, June 23, 2026. The Offer Shares are expected to commence trading on the Main Board of the Stock Exchange on Friday, June 26, 2026.
After deducting underwriting commissions and estimated offering expenses, the Company estimates that the net proceeds to be raised from the Global Offering will amount to approximately HK$340 million before the exercise of any Over-allotment Option. The Company intends to allocate the net proceeds from the Global Offering as follows:
- Approximately 35.0%, or HK$119 million, to advance R&D efforts and enhance technological capabilities;
- Approximately 35.0%, or HK$119 million, to deepen parking facility and platform operations business and increase operational scale;
- Approximately 20.0%, or HK$68.0 million, to extend marketing and service networks and further explore global expansion opportunities;
- Approximately 10.0%, or HK$33.9 million, for working capital and other general corporate purposes.
Remarkable Financial Performance with Steady Growth in Revenue and Profitability
During the Track Record Period, Keytop recorded consistent revenue growth and substantially improved financial performance. The Company's total revenue rose from RMB738.0 million in 2023 to RMB799.5 million in 2024, representing an increase of 8.3%, and further grew by 3.9% to RMB830.6 million in 2025.
In terms of profitability, Keytop recorded net profit of RMB87.0 million, RMB86.7 million and RMB93.7 million for 2023, 2024 and 2025 respectively. The non-IFRS adjusted net profit, which better reflects the operating performance of core businesses, reached RMB89.4 million, RMB91.7 million and RMB121.9 million in 2023, 2024 and 2025 accordingly, demonstrating robust and sustainable profitability. Such solid performance is primarily attributable to the wide adoption and synergies generated by the Company's three core business lines - smart parking systems, smart parking management services and parking facility and platform operations - across multiple regions and scenarios worldwide.
Future Outlook and Growth Strategy
Looking ahead, KEYTOP PARKING INC. has formulated a clear strategy to fully capture substantial market opportunities. The Company will continue investing in research and development as well as AI technologies to consolidate its core technological edges, scale up independent R&D efforts, build dedicated R&D teams, and focus on the comprehensive development of image recognition algorithms, multi-modal sensing systems, computational infrastructure and cloud-native parking platforms. It will further advance its parking facility and platform operation business to unlock asset monetisation potential, maintain sharp insights into market demands and technological advancements, and continuously deploy dynamic pricing and dispatch algorithms based on spatial-temporal data modelling to enhance revenue management and improve asset turnover efficiency. Keytop will also reinforce its marketing and service networks to accelerate penetration into lower-tier cities, boost brand influence through strategic partnerships and industry conferences, strategically target lower-tier cities lacking mature digital smart parking infrastructure, speed up overseas market expansion and replicate its proven successful business experience accumulated in China.
Keytop's businesses currently cover parking lots across more than 60 countries and regions globally. In the near term, Keytop will leverage its product, technology and brand strengths to strategically focus on high-growth emerging markets, with plans to enter mature overseas markets over the medium to long term.
About KEYTOP PARKING INC.
KEYTOP PARKING INC. is a leading player in China's smart parking space operation sector. The Company specialises in smart parking systems, smart parking management services and parking facility and platform operations. As an industry pioneer that launched LED parking space indicator lights, applied video recognition technology, and rolled out video-based ticketless parking fee management systems, Keytop was also among the first market participants to support WeChat Pay for parking fees in China. The Company has led the development of China's smart parking space operation industry through technological innovation. As of 2025, Keytop has provided services to a total of 30,644 parking lots, enabling seamless connection and efficient coordination across all aspects of parking operations and activities. The Company identifies and addresses diversified demands of parking lot owners, operators, vehicle owners and drivers throughout the service process. Backed by solid technical capabilities, closed-loop lifecycle management, full-stack cross-scenario portfolio, and a highly flexible, scalable business model, Keytop customises products and delivers services for parking lot owners and operators across all segments, granting the Company unique growth advantages in the parking space operation sector.
Source: Keytop Parking INC.
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