On November 23 , Xinzhu announced that the company intends to issue shares to Sichuan Development Rail Transit Investment, a wholly-owned subsidiary of Sichuan Development, the controlling shareholder, at a price of 3.88 yuan per share. It intends to raise no more than 895 million yuan , all of which will be used to repay loans from financial institutions after deducting the issuance fee.
Source: The Company announced
that upon completion of the issuance, the shares of the Company held by Sichuan Development and the enterprises controlled by it will increase from 29.97% to 46.13% .
Xinzhu shares said that the issue will help the company reduce its financial risks, improve its solvency and risk resistance, and ease the company's financial pressure. On the basis of improving the structure of assets and liabilities, the company will more firmly promote the development of the company's "advanced manufacturing + photovoltaic" dual track, and then realize the orderly layout of strategic transformation. According to the
data, Xinzhu shares were established in 2001 and listed on the Shenzhen Stock Exchange in 2010. In April 2018, Xinzhu Investment Group transferred 16% of Xinzhu shares to Sichuan Development by agreement, which made the latter the largest shareholder of Xinzhu shares.
As the largest state-owned platform in Sichuan, Sichuan Development released a tracking rating report for 2023 in August this year, with total assets of 1.833 trillion yuan , which is likely to break through the 2 trillion mark this year. After merging into the Sichuan Development System, Xinzhu began to transform its business. On the one hand, it stripped its backward assets and concentrated on developing high-end rail transit business; on the other hand, it began to plan new business growth points.
At present, Xinzhu Co., Ltd. is mainly engaged in urban rail transit business, research and development, production, sales and service of bridge functional components and supercapacitors, and photovoltaic power station business , and has developed into one of the most comprehensive enterprises in the bridge functional components industry in China. Its holding company, Aowei Technology, is the leader of the domestic super capacitor subdivision industry. In August
2022, according to the development plan of Sichuan, Completed 51.6% 0 HTML0UN of Sichuan Shengtian New Energy Development Co., Ltd. (Hereinafter referred to as " Shengtian New Energy ") under Sichuan Development with 973 million yuan K26's equity acquisition, 0 HTML 0 UNK2 7 formally entered 0 HTML 0 UNK2 8 photovoltaic power generation 0 HTML 0 UNK2 9 areas 0 HTML 0 UNK3 0. 0 HTML0 UNK3 1Shengtian New Energy is principally engaged in the development, construction and operation of photovoltaic power plants. Relying on the development models of "photovoltaic + animal husbandry", "photovoltaic + fishery" and "photovoltaic + agriculture", Shengtian New Energy has formed a photovoltaic business form with the basic pattern of large base projects, distributed projects in the whole county and conventional projects. As of June 2023, Shengtian New Energy has invested in the construction of more than 20 photovoltaic power plants nationwide, with a total installed capacity of 1262.63 MW0HTML0 UNK3 2 (including projects under construction). 0 HTML 0 UNK3 4 At the same time, according to the information of Aiqi, the second largest controlling shareholder of Shengtian New Energy is 0 HTML 0 UNK3 5 TCL Central 0 HTML 0 UNK3 6, which is the leading enterprise of photovoltaic silicon wafers. On the one hand, it will endorse the company's development of photovoltaic business; On the other hand, it also provides strong support and guarantee for the company in terms of industrial collaboration and supply chain stability. 0 HTML0 UNK3 7 At present, Xinzhu Co., Ltd. has established the business positioning of "advanced manufacturing + photovoltaic", and will implement the strategy of "independent development and investment mergers and acquisitions" in photovoltaic power plants, and is committed to building itself into a first-class high-end equipment manufacturer and photovoltaic power plant operator in China and leading in the western region. 0HTML0UNK38
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