Key Takeaways:
Deltaphone Technology has applied to list in Hong Kong, reporting its losses narrowed significantly in the first half of 2025
The AIoT solutions provider boasts a strong client roster, including State Grid Corp. of China and the country's three major state-owned oil giants
The explosive growth of AI is injecting fresh momentum across industries, with many companies bending over backwards to show how they're using the technology to boost their efficiency. One sector putting AI to such use is big industrial companies, a key customer group that industrial AIoT solutions provider Beijing Deltaphone Technology Co. Ltd. hopes will power it to a strong valuation with its recently filed plan to list in Hong Kong.
While AI has only recently captured investor fancy, Deltaphone's work in the space dates back a decade. The trio of Wang Qingjie, Teng Xuejun, and Dong Xiaodong, founded the company in the coastal city of Hangzhou in 2015 as operator of an AIoT software platform for production optimization. They later went on to provide project services for China's leading power grid operators.
As its business expanded, the company attracted an A-list of investors, including the venture capital arms of China Merchants Group and the international arm of banking giant Bank of Communications. Chairman Wang Qingjie remains the largest shareholder with a 27.7% stake.
A-share listing shelved
Deltaphone originally planned to list on one of China's domestic A-share markets in Shanghai or Shenzhen, before halting those efforts a year ago and resetting its course for Hong Kong. It cited Hong Kong's direct access to international markets, ability to attract a broader investor base, and the potential to enhance its corporate profile, credibility, and competitiveness as reasons for the ...
