DST Sustainable Technology Files for HKEX Listing, First Chinese Firm to Obtain S&P "Dark Green" ESG Rating

NewTimeSpace  News: As disclosed by the Hong Kong Stock Exchange, DST Sustainable Technology (Shenzhen) Co., Ltd. filed for main board listing on May 29, 2026, with CICC and Citi appointed as joint sponsors.
A leading provider of digital and intelligent operation management solutions for new energy logistics vehicles in China, the company has developed an integrated Fleet Management as a Service (FMaaS) model since its founding in 2015. According to Frost & Sullivan, it ranks first in China’s new energy logistics vehicle operation and management industry in terms of managed fleet scale, network coverage and revenue.
As of December 31, 2025, it managed 224,546 new energy logistics vehicles, representing approximately 15.6% of China’s total, with service networks covering all 333 prefecture-level cities nationwide. The company posted revenue of RMB 4.1 billion in 2025, with a net cash retention rate of 134%. Its revenue from new energy vehicle management services achieved a compound annual growth rate of 53% from 2023 to 2025. It is also the first Chinese enterprise to receive S&P’s "Dark Green" ESG rating.

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