Keytop Parking clears HKEX hearing for IPO

Proceeds will fund R&D parking operations overseas growth and corporate purposes.

Keytop Parking has passed its initial public offering (IPO) listing hearing on the Main Board of the Hong Kong Stock Exchange.

According to the prospectus, proceeds from the IPO will be used to support research and development, expand parking lot operations, strengthen marketing and service networks, pursue international growth opportunities and fund general corporate purposes.

Keytop said it plans to increase investment in artificial intelligence applications for parking management and continue expanding its domestic and international operations following the listing.

Founded in 2006, the company provides smart parking systems, digital parking management services and parking facility operations.

Keytop reported revenue of $963.5m (RMB830.6m) in 2025, up from $856.1m (RMB738.0m) in 2023. Adjusted net profit under non-IFRS standards rose from $103.7m (RMB89.4m) to $141.4m (RMB121.9m) over the same period.

Net profit increased from $100.9m (RMB87.0m) in 2023 to $108.7m (RMB93.7m) in 2025, whilst operating profit rose from $122.3m (RMB105.4m) to $128.9m (RMB111.1m).

($1.00 = RMB0.86)