The global expansion of China's new energy industry is reshaping the worldwide market landscape at an unprecedented pace and scale. Against this backdrop, internationalization has become imperative for Chinese new energy enterprises—not only as a strategic move to seize global green transition opportunities but also as a necessary path to navigate domestic competition and achieve sustainable growth. CENTRAL NEW EGY (01735) has now accelerated its globalization push.
On November 15, CENTRAL NEW EGY announced a global strategic partnership with Hemingway Growth Yield Fund, under the U.S.-based Hemingway Family Foundation, to collaborate in the new energy sector. The alliance aims to leverage international resources and mutual strengths to drive CENTRAL NEW EGY’s rapid global expansion, ensuring long-term, stable, and mutually beneficial outcomes.
To solidify this partnership, Hemingway Growth Yield Fund or its affiliates will subscribe to and hold up to 20% of CENTRAL NEW EGY’s equity as a long-term industrial investor. The transaction, to be completed in compliance with regulations, signals Hemingway’s potential future stake in the company.
As a benchmark for China’s green technology exports, CENTRAL NEW EGY has built a diversified business model and a global green energy ecosystem anchored in China. Its footprint spans Belt and Road partners like the UAE and Saudi Arabia, extending to the Middle East, Europe, Africa, and the Americas. The company has also partnered with international firms such as Sama Technology, Honeywell UOP, Iceland’s CRI-Methanol, ONYX Group, Oman’s ENGLTD, and Saudi’s FCC, infusing "China-made" green solutions into global energy transitions.
The Hemingway partnership marks a milestone in CENTRAL NEW EGY’s globalization, propelling its ambition to lead the zero-carbon industry. This collaboration goes beyond financial investment, encompassing multi-dimensional strategic alignment.
Hemingway Growth Yield Fund, an open-ended fund company (OFC) licensed by Hong Kong’s SFC for Type 4 (securities advisory) and Type 9 (asset management) activities, is managed by Jake Hemingway, CEO of the Hemingway Family Foundation, with $1 billion in assets under management. The Hemingway family wields longstanding influence across Asia, Europe, Africa, and the Middle East.
Key objectives of the partnership include: 1. **Global Expansion**: Hemingway will facilitate market access and investments for CENTRAL NEW EGY in Africa, the Middle East, and Eastern Europe, prioritizing countries like Romania, Bulgaria, Serbia, and Poland. 2. **Financial Synergy**: Leveraging ties with family offices, sovereign funds, and institutional investors, Hemingway will support CENTRAL NEW EGY’s technological and business model advancements. 3. **Industrial Collaboration**: CENTRAL NEW EGY will share expertise in PV manufacturing, zero-carbon park solutions, integrated solar-storage-charging systems, hydrogen/ammonia/methanol, and AI computing to bolster Hemingway’s investments in these sectors. 4. **Brand Enhancement**: Both parties will leverage their regional reputations to amplify each other’s commercial influence.
This strategic investment reflects Hemingway’s confidence in CENTRAL NEW EGY’s transformation, sustained high revenue growth, profitability against market headwinds, and potential as a smart platform spanning the new energy value chain.
CENTRAL NEW EGY has evolved from a green construction firm into a PV sector "dark horse," with revenue surging 49.8% YoY to HK$6.03 billion in 2024 and 59.92% YoY to HK$4.05 billion in H1 2025. Its 2023 turnaround (HK$76.4 million net profit) further validates its business model and growth potential.
With Hemingway’s backing, CENTRAL NEW EGY’s globalization is set to enter a new phase, accelerating overseas market penetration and dual-cycle (domestic + international) development. This positions the company to advance toward its vision as a "global zero-carbon leader," with sustained high growth poised to unlock long-term value for investors.
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