In this Research Note, we examine Technovator, a key player in the Chinese building automation market, based on their 2022 annual report, financial results and investor presentations. Founded in Singapore in 2005, Technovator is listed on the Main Board of the Hong Kong Stock Exchange. The Group is structured into three business units: Smart Transportation Business (STB), Smart Building and complex Business (SBB), and Smart Energy Business (SEB). A total of 779 employees were recorded on 31st December 2022. The Smart Building business designs, manufactures and distributes integrated building automation and energy management systems, including hardware, software & total solutions to system integrators and distributors. The business unit is the largest contributor to the group, accounting for 51.3% of total revenues. Technovator positions itself as a leading smart energy saving services provider in the Chinese market. Revenue from the Smart Building and Complex Business increased by 22.2% to RMB 892.5 million in 2022. Technovator Projects […]