On December 16, Zhenjiang announced that in order to better develop overseas business, exchange, cooperation and strategic layout with the international market, form the linkage and cooperation between domestic and foreign business, and further improve the company's comprehensive competitiveness and future sustainable development momentum. The company intends to set up an overseas wholly-owned subsidiary Zhenjiang (Hong Kong) Holdings Limited (proposed name, subject to the final approval of the relevant local authorities) in Hong Kong with its own funds, with a total investment of US $7.5 million.
In addition, The company intends to set up an overseas wholly-owned JZNEE Renewable Energy Technology Arabian LLC in Saudi Arabia with its own funds through its subsidiary Zhenjiang (Hong Kong) Holding Co., Ltd. Subject to the final approval of the relevant local authorities) with a total investment of SAR 28 million. The company said that in order to better participate in the international market, cope with the increasingly fierce market competition, meet the growing demand for the company's photovoltaic brackets and other products in Saudi Arabia's new energy market, and improve the company's competitiveness and profi tability,
the data show that the company's photovoltaic brackets and other products are in the market. Zhenjiang Co., Ltd. (Jiangsu Zhenjiang New Energy Equipment Co., Ltd.), founded in March 2004, is a limited liability company integrating the design, research and development, production and sales of port machinery, wind power accessories, electrolytic aluminum machinery and equipment, and steel structures of construction machinery, and was successfully listed on the main board of the Shanghai Stock Exchange in November 2017.
According to the company's 2022 financial report, photovoltaic equipment products are its second largest business, accounting for 15.58% of total revenue. In the first three quarters of
this year, Zhenjiang shares realized revenue of 2 billion 717 million yuan , an increase of 35.75% over the same period last year; Net profit attributable to parent company and net profit after deduction of non-profits were RMB127 million and RMB128 million, respectively, representing a year-on-year increase of 110.86% and 146.03%, respectively; gross profit margin was 21.30%, representing a year-on-year increase of 6.7 percentage points; and net profit margin was 5.02%, representing a year-on-year increase of 1.6 percentage points.
By the end of the third quarter of 2023, the company's orders in hand amounted to 2.277 billion yuan. Among them, wind power equipment products amounted to 1.816 billion yuan and photovoltaic equipment products amounted to 159 million yuan .
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