HEXIA Technologies files for listing on HKEX GEM: 0.9% share of China's automotive testing solutions market by 2025 revenue

NewTimeSpace News: On 11 September 2026, HEXIA Technologies Co., Ltd. (Zhejiang Hexia Technology Co., Ltd.) submitted a listing application to GEM of The Stock Exchange of Hong Kong Limited, with Vast Harbour Corporate Finance Limited acting as the sole sponsor. Founded in 2017 and headquartered in Zhejiang Province, the Company has grown since its establishment into an automotive testing solutions provider in Zhejiang Province and, during the track record period, has cooperated with leading domestic and international automobile manufacturers and automotive component manufacturers, such as BYD (one of China's largest new energy vehicle manufacturers) and Customer B (one of the world's largest engine manufacturers and a globally leading powertrain solutions provider).

The announcement stated that China's automotive testing services market is highly competitive with moderate concentration and more than 1,500 market participants. According to the Frost & Sullivan report, the Company had a 0.9% market share among all automotive testing solutions providers in China by revenue in 2025. The Company's automotive testing solutions comprise the automotive testing, testing facility solutions and automotive component sales business segments. Its automotive testing services are dedicated to driving the research and development of new internal combustion engine vehicles and new energy vehicles and their related components, and the testing results are used to optimise design, functionality and system interoperability to ensure that new vehicle models can meet the relevant performance and regulatory standards; after testing, such new vehicles are required to undergo specification certification by other qualified institutions. Since 2022, the Company has expanded the scope of its automotive testing services to cover ADAS testing, where ADAS are sophisticated electronic systems integrated into vehicles that enhance driver safety and comfort through the use of extensive sensor and camera technologies.

The announcement further stated that, leveraging its experience and knowledge in developing its own automotive testing facilities and to diversify its business and revenue streams, the Company has extended its business to testing facility solutions, advising and assisting customers in developing and/or upgrading their testing facilities; it has also expanded into the sale of automotive components, which involves the supply of products such as urea pumps and TCUs, as well as ancillary calibration services. The Company's Changxing headquarters houses its principal testing facilities, and it has additionally strategically established testing facilities in major automotive markets, including Zhejiang, Hubei, Jiangsu and Guangdong provinces; as at the Latest Practicable Date, the Company owned more than 480 major testing machines and equipment, primarily used to provide automotive testing services.

View announcement.

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