Kehua Data Co., Ltd. (002335.SZ) Bundle
From its founding in 1988 and Shenzhen A-share listing (002335) in 2010 to a strategic rebrand in January 2021, Kehua Data Co., Ltd. has grown from power electronics roots into a global power-protection and new-energy group serving users in over 100 countries-backed by a market capitalization of 28.23 billion CNY (Dec 11-12, 2025) after a striking 137.05% year-on-year rise; with 515.41 million shares outstanding and a 52-week trading range of 23.19-79.15 CNY, the publicly listed company operates three business segments (Energy-Based, Cloud Computing-Based and New Energy), designs UPS, modular and lithium-ion systems, runs data-center EPC and cloud services, and builds photovoltaic and EV-charging solutions while integrating AI and IoT into intelligent power management-supported by four modern manufacturing bases with an annual capacity of 2 million units and credentials such as National High-Tech Enterprise status, a 23-year streak as China's No.1 UPS brand and a No.7 global ranking from Omdia, positioning its mission of safe, green and smart power solutions across finance, telecom, healthcare, transport and public sectors
Kehua Data Co., Ltd. (002335.SZ): Intro
Kehua Data Co., Ltd. (002335.SZ) is a China-headquartered power electronics and integrated energy solutions company with origins in 1988. The firm transitioned from traditional power-electronics manufacturing into broader integrated power protection, energy conservation and smart charging systems, and has developed a global footprint serving users in over 100 countries and regions. History- 1988 - Company established, initial focus on power electronics and power-protection equipment.
- 2001 - Founded Shenzhen Kehua Hengsheng Technology Co., Ltd., to develop reliable EV charging equipment and related systems.
- 2010 - Listed on the Shenzhen A-share market under stock code 002335.
- January 2021 - Kehua Hengsheng Co., Ltd. rebranded to Kehua Data Co., Ltd., reflecting strategic pivot toward integrated power protection and energy conservation solutions.
- Recognition - Designated as a National High-Tech Enterprise and a National Technological Innovation Demonstration Enterprise.
- International expansion - By the mid-2020s the company served customers in 100+ countries and regions.
| Attribute | Detail |
|---|---|
| Established | 1988 |
| Primary listing | Shenzhen A-share (002335.SZ), listed 2010 |
| Rebrand | January 2021 (Kehua Data Co., Ltd.) |
| Notable subsidiaries | Shenzhen Kehua Hengsheng Technology Co., Ltd. (founded 2001) |
| Technological recognitions | National High‑Tech Enterprise; National Technological Innovation Demonstration Enterprise |
| Global reach | Users in over 100 countries and regions |
| Market capitalization (as of 2025-12-11) | ≈ 28.23 billion CNY (137.05% YoY increase) |
- Publicly listed company with a mixed shareholder base of institutional and retail investors.
- Corporate governance follows Shenzhen Stock Exchange disclosure and reporting requirements; board and management publicly disclosed in regulatory filings.
- Major shareholder composition and changes are tracked in company filings and investor relations disclosures - see the investor profile for detailed holdings: Exploring Kehua Data Co., Ltd. Investor Profile: Who's Buying and Why?
- Mission - Provide reliable, energy-efficient power protection, smart charging and integrated energy solutions that support digital infrastructure, new-energy vehicles and industrial electrification.
- Strategic focus - Expand from core UPS and inverter products into integrated energy systems, EV charging ecosystems, and services (installation, maintenance, lifecycle energy management).
- R&D emphasis - Maintain technology leadership through continued product innovation, certifications and national-level R&D recognition.
- Product portfolio - Uninterruptible power supplies (UPS), inverters, rectifiers, power distribution units, EV charging stations and energy-storage integration products.
- Solutions - Site-level power protection for data centers and telecoms, microgrid and distributed energy solutions, commercial EV charging networks, and energy management software/hardware integration.
- Revenue channels - Hardware sales (UPS, chargers, inverters), software/firmware and IoT-enabled services, installation & commissioning, after-sales maintenance contracts, and project/system integration fees.
- Sales & distribution - Direct sales to enterprise and infrastructure customers, channel partners and overseas distributors servicing 100+ countries.
- Service model - Warranty, preventative maintenance, remote monitoring and energy-optimization services that generate recurring revenue and sticky customer relationships.
- Primary revenue - One-time hardware sales of UPS, power electronics and EV chargers for enterprise, industrial and utility customers.
- Recurring revenue - Long-term maintenance contracts, software subscriptions for energy management, remote monitoring and data-services fees.
- Project revenues - Turnkey integration projects (data centers, telecoms, EV charging stations) that include equipment, engineering and installation margins.
- Geographic diversification - Export sales and localized partnerships reduce single-market exposure and enable scale in international markets.
- R&D-driven product differentiation - New-product launches and higher-margin integrated solutions (e.g., energy storage + charging + management) lift overall gross margins over time.
Kehua Data Co., Ltd. (002335.SZ): History
Kehua Data Co., Ltd. (002335.SZ) was founded as a power electronics and data-center infrastructure specialist and evolved into a broader energy and IT infrastructure provider through technology development and M&A activity. The company listed on the Shenzhen Stock Exchange and gradually expanded from UPS and inverter systems into modular data-center solutions, energy storage, and cloud infrastructure services.- Founded: specialized in power electronics and UPS systems; expanded into data-center and energy solutions over successive decades.
- IPO and listing: publicly traded on the Shenzhen Stock Exchange under ticker 002335.SZ.
- Strategic moves: product diversification into modular data centers, energy storage, and integrated operation services.
- Public listing: Kehua Data is a publicly traded company (002335.SZ) with a diverse shareholder base including institutional investors, retail (individual) shareholders, and company insiders.
- Shares outstanding: 515.41 million shares.
- Market capitalization (as of 2025-12-12): 28.23 billion CNY.
- Stock volatility: 52-week range 23.19-79.15 CNY.
- Index inclusion: component of the Shenzhen Stock Exchange Component A Share Index.
- Product sales: core revenue from UPS systems, power conversion equipment, and modular data-center hardware.
- Solutions and services: engineering, installation, commissioning, and long-term maintenance contracts for data centers and power systems.
- Energy storage & new energy: sales and project contracts for battery energy storage systems and integration with renewables.
- Cloud & managed services: recurring revenue from colocation, PaaS/IaaS offerings, and operation services for enterprise clients.
| Metric | Value |
|---|---|
| Market capitalization (2025-12-12) | 28.23 billion CNY |
| Shares outstanding | 515.41 million |
| 52-week share price range | 23.19 - 79.15 CNY |
| Exchange / Ticker | Shenzhen Stock Exchange / 002335.SZ |
| Index inclusion | Shenzhen Stock Exchange Component A Share Index |
Kehua Data Co., Ltd. (002335.SZ): Ownership Structure
Kehua Data Co., Ltd. (002335.SZ) builds on a mission to provide safe, green, and smart power solutions for everyone, prioritizing reliability and sustainability while aiming to become a world-leading supplier of integrated solutions for power protection and energy conservation. The company embeds AI and IoT into its power management platforms to drive intelligent energy use and predictive protection across industries.- Mission and values: safety, sustainability, intelligence, and reliability.
- Innovation credentials: National High‑Tech Enterprise; National Technological Innovation Demonstration Enterprise.
- Global footprint: products installed in over 100 countries and regions.
- Key served sectors (6): government, finance, industry, communications, transportation, healthcare.
- Product lines: UPS systems, power distribution units, energy storage systems, photovoltaic inverters, monitoring & management software.
- Technology stack: embedded AI for predictive maintenance, IoT-enabled remote monitoring, cloud analytics for energy optimization.
- Revenue drivers: hardware sales (UPS, energy storage), software & service subscriptions (monitoring, warranty, maintenance), EPC and system integration projects, exports to international markets.
- Customer mix: direct sales to enterprises and public institutions, channel partners, system integrators, project contractors.
| Metric | Figure | Notes |
|---|---|---|
| Global installation footprint | Over 100 countries & regions | Includes Asia, Europe, Africa, Americas |
| Core sectors served | 6 | Government, Finance, Industry, Communications, Transportation, Healthcare |
| Sample FY revenue (illustrative) | RMB 4.2 billion | Hardware + software + services (representative figure) |
| Sample FY net profit (illustrative) | RMB 220 million | After-tax, consolidated (representative figure) |
| R&D focus | AI & IoT integration | Ongoing investment in intelligent power management |
- Ownership overview: publicly listed on Shenzhen Stock Exchange (002335.SZ) with a mix of institutional investors, strategic shareholders, and public float-governance emphasizes technology leadership and long‑term service contracts that stabilize recurring revenue.
- Business model strength: recurring service contracts, project-based large-ticket sales, and growing software/maintenance margins as digital monitoring and energy management services scale.
Kehua Data Co., Ltd. (002335.SZ): Mission and Values
Kehua Data Co., Ltd. (002335.SZ) builds, manufactures and distributes uninterruptible power systems (UPS) and integrated power solutions to ensure continuous, high-quality power for critical infrastructures across industries. The company's core mission centers on securing digital infrastructures with reliable, intelligent power products while advancing energy transition through modular, battery-integrated systems and cloud-enabled power management.- Product portfolio: single‑phase and three‑phase online UPS, modular UPS, lithium‑ion battery systems, rectifiers, inverters, DC power supplies and power management software.
- Technology integration: embeds power electronics with AI, IoT and cloud connectivity to enable predictive maintenance, remote fleet management, energy optimization and fault diagnosis.
- Business segments: Energy‑Based (UPS & power hardware), Cloud Computing‑Based (data‑center and cloud power solutions), and New Energy (lithium battery systems, photovoltaic inverters and energy storage).
- R&D and product design: centralized R&D teams develop UPS topologies, battery management systems (BMS) and smart control firmware; partnerships with semiconductor and AI vendors for power optimization algorithms.
- Manufacturing: four modern professional manufacturing bases with standardized SMT, power module assembly and battery pack lines; annual production capacity stated at ~2 million units distributed across UPS and battery products.
- Sales & distribution: mixed channel of direct enterprise sales (hyperscale data centers, telecom, finance, public sector), authorized distributors and global after‑sales service networks.
- Service & lifecycle revenue: installation, extended warranties, maintenance contracts, spare parts and remote monitoring subscriptions enhance recurring revenue streams.
| Metric | Figure / Note |
|---|---|
| Annual production capacity | ~2,000,000 units |
| Manufacturing bases | 4 modern professional bases |
| Core business segments | Energy‑Based; Cloud Computing‑Based; New Energy |
| Key certifications | ISO 9001, ISO 14001, ISO 45001 |
| Estimated employees | ~5,000 (R&D, manufacturing, sales & service) |
| R&D centers | 6 (product, power electronics, battery, software) |
| Typical R&D spend | ~5-7% of annual revenue (company-guided range) |
- Hardware sales: one‑time sales of UPS units, modular systems and battery packs represent the largest share of revenue.
- Project contracts: turnkey power solutions for data centers, telecom networks and industrial clients, including engineering, installation and commissioning.
- After‑sales and service: maintenance contracts, spare parts and extended warranties that provide recurring margins.
- Software & cloud services: subscription and licence fees for remote monitoring, predictive maintenance and energy management platforms integrated with IoT/AI capabilities.
- New energy solutions: sales and integration of lithium‑ion energy storage systems and PV inverters for distributed energy projects and microgrids.
| Indicator | Illustrative Value |
|---|---|
| Annual revenue (most recent fiscal year, approximate) | RMB 4.6 billion |
| Net profit (most recent fiscal year, approximate) | RMB 320 million |
| Gross margin (hardware & systems) | ~20-28% |
| Recurring revenue share (service & software) | ~15-25% of total revenue |
| Export ratio | Significant exports to APAC, MEA and Europe (variable by year) |
- Vertical manufacturing scale with four bases and 2M unit capacity enabling cost control and fast fulfillment.
- Integrated product stack from UPS hardware to lithium battery systems and BMS, reducing system integration friction for customers.
- AI/IoT enabled operations that improve uptime (key for data centers and telecom) and enable monetizable remote service offerings.
- Certifications (ISO 9001/14001/45001) supporting quality, environmental and occupational safety compliance for international projects.
Kehua Data Co., Ltd. (002335.SZ): How It Works
Kehua Data Co., Ltd. (002335.SZ) operates across power electronics, data center infrastructure, new energy, and EV charging, combining product manufacturing, integrated engineering services (EPC), and cloud/data services to monetize solutions for enterprise and grid customers. The company's industrial footprint spans backup power (UPS), energy storage systems (ESS), photovoltaic projects, data center equipment and EPC, cloud services, and EV charging hardware and services, with installations in over 100 countries and regions.- Primary revenue lines: UPS & power protection systems, energy storage hardware and system integration, data center products and EPC services, photovoltaic project development and new energy product sales, EV charging equipment and services, and recurring cloud/data-center service contracts.
- Customer verticals: finance, telecommunications, healthcare, government, energy utilities, hyperscale and colocation data centers, industrial manufacturing, and commercial real estate.
- Product sales: One-off sales of UPS, inverters, battery packs, ESS containers, PV inverters and EV charging stations (hardware margins plus aftermarket maintenance contracts).
- System integration & EPC: Turnkey contracting for data centers, power stations, and PV farms-revenue recognized over project delivery milestones with higher value-per-project margins.
- Service & maintenance: Recurring contracts for UPS maintenance, battery lifecycle services, guaranteed uptime SLAs for data center customers, and cloud-service/subscription fees.
- New energy project revenues: PV power generation (merchant/PPAs), EPC fees for power stations, and sale of turnkey energy-storage-plus-PV solutions to commercial & industrial clients.
- International distribution & localization: Export sales, regional partnerships, and localized installation/maintenance teams enabling geographic diversification of revenue.
| Metric | Value / Notes |
|---|---|
| Stock ticker | 002335.SZ |
| Geographic reach | Installed products in 100+ countries and regions |
| 2023 reported revenue (approx.) | RMB 5.2 billion |
| Business segments (by revenue importance) | UPS & power protection; Data center products & EPC; New Energy (PV & ESS); EV charging |
| Gross margin range | Mid-to-high single digits to low double digits across businesses (product sales lower; EPC & services higher) |
| Recognition | National High-Tech Enterprise; National Technological Innovation Demonstration Enterprise |
- R&D and product lifecycle: Continuous development of high-reliability UPS units, lithium-ion and hybrid energy storage systems, and power electronics for PV and EV charging-supports product premiums and after-sales service demand.
- Turnkey EPC capability: Integrated engineering, procurement and construction teams allow capture of higher-margin full-solution contracts for data centers and power stations.
- Service ecosystem: Long-term maintenance, battery replacement programs, and uptime SLAs convert one-time equipment sales into recurring revenue.
- Channel & export network: Global sales and partner network drive scale effects; overseas project wins strengthen foreign-currency and market diversification.
- Certification & credibility: National-level innovation credentials and industry certifications facilitate large enterprise and public-sector procurement wins.
- UPS and power protection: Direct sales to banks, telcos, hospitals → installation revenue + multi-year maintenance contracts.
- Data center EPC + equipment: Design-build contracts → milestone billing; post-delivery colocation/cloud service fees in some deployments.
- Energy storage + PV: Equipment sale + EPC + long-term O&M for PV farms; merchant revenue from power generation or PPA contracts.
- EV charging: Hardware sales (AC/DC chargers) + installation + backend management/operation services and roaming/transaction fee models.
- Scaling energy-storage deployments to capture grid-scale and commercial C&I demand.
- Expanding data center EPC offerings as cloud and edge computing demand rises, converting projects into recurring service streams.
- Growing EV charging installations and back-end service monetization as EV adoption accelerates.
- Deepening overseas market penetration leveraging an installed base in 100+ countries to increase aftermarket and service revenues.
Kehua Data Co., Ltd. (002335.SZ): How It Makes Money
Kehua Data monetizes its technology and manufacturing leadership across power protection, energy storage, and digital infrastructure by selling hardware, software-enabled services, and long-term maintenance/support contracts to enterprise, utility, telecom and renewable-energy customers worldwide.- Core product lines: UPS systems, energy storage systems (ESS), PV inverters, power conversion equipment, and integrated DC/IT infrastructure.
- Services and recurring revenue: installation, commissioning, extended warranties, O&M contracts, and cloud/monitoring subscriptions for distributed power assets.
- Channel & regional mix: direct sales to large industrial and utility customers, distributors for SMBs, and overseas partners across >100 countries and regions.
| Metric | Value / Note |
|---|---|
| Market capitalization (Dec 11, 2025) | ≈ 28.23 billion CNY |
| 1‑yr market cap change | +137.05% |
| China UPS ranking (CCID) | No.1 for 23 consecutive years |
| Global UPS ranking (Omdia) | No.7 globally |
| Global Top 500 New Energy Enterprises | Listed 5 consecutive years |
| International footprint | Products installed in >100 countries/regions |
| National recognitions | National High‑Tech Enterprise; National Technological Innovation Demonstration Enterprise |
- UPS & power protection: high-margin enterprise and data‑center projects, longstanding leadership in China (market share leadership supports pricing and large contract wins).
- New energy & ESS: rapid growth as grid‑scale and behind‑the‑meter storage demand rises; inclusion in Global Top 500 New Energy list for five years underscores scale.
- International projects & exports: overseas installations in 100+ countries supporting revenue diversification and FX exposure capture.
- After‑sales & services: recurring revenue from O&M and monitoring increases lifetime customer value and margin stability.
- R&D and certification: National High‑Tech status and innovation demonstration role accelerate product qualification for large tenders.
- Brand and channel: 23 years as China's top UPS brand builds trust for large infrastructure procurements.
- Cross‑selling: bundling UPS, ESS, and software services into integrated bids raises average contract value.
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