Central New Energy (HKG:1735) has signed a framework agreement with Ant Blockchain Technology to jointly develop blockchain and artificial intelligence applications in the new energy sector, according to a Sept. 19 Hong Kong bourse filing.

Shares of the firm were down nearly 11% in Monday morning trade.

Under the agreement, the two sides will explore tokenising assets such as photovoltaic power stations and zero-carbon industrial parks to draw overseas investment.

They will also apply AI models to forecast renewable power output, optimise grid dispatch, and boost operational efficiency.

The partnership will then extend to carbon asset management, green electricity, and green certificate trading.

The board said the collaboration could diversify revenue streams and support long-term growth, while noting that specific projects will require separate binding agreements.