See crossover again! Housing enterprises spent 11.6 billion yuan to build photovoltaic energy storage projects, with a net profit of only 35 million yuan last year.

The cross-border story of the

photovoltaic track has been updated.

This is a company with a market value of only 8.22 billion yuan and a net profit of only & nbsp; Housing enterprises of 35.9357 million yuan. On the evening

of May 4, Tianchen announced that the company and the People's Government of Fanchang District of Wuhu City had recently signed the Investment Framework Agreement, and the two sides had reached a cooperation agreement on investing in the construction of a new energy industry base with integrated optical storage within the administrative divisions of the partners.

According to the agreement, Tianchen Co., Ltd. will build a new integrated manufacturing project of 20g W high-efficiency solar cells and 20g W energy storage converters and energy storage systems in Wuhu, of which the first phase is planned to build an integrated manufacturing project of 5G W high-efficiency solar cells + 6G W energy storage converters and energy storage systems. The total investment of the

project is 11.6 billion yuan.

Tianchen said that the signing of the agreement meets the needs of the company's overall development strategy. If the follow-up cooperation is smoothly promoted, it will further promote the company's incremental business development, enhance the company's core competitiveness and sustainable development ability, and will have a positive impact on the company's future development. According to

the data, the main business of Tianchen shares includes real estate sales, taxi business and property leasing.

This is the first time that it has crossed the border and stepped into the photovoltaic industry . With

a Market Value of Only 8.2 Billion and a Huge Investment of 11.6 Billion, Where Does the Money Come from?

The first cross-border photovoltaic new track, with a huge investment of 11.6 billion yuan, the construction project spans the photovoltaic and energy storage fields, which is really a big deal. But where does the money come from?

On April 6, Tianchen Co., Ltd. released its annual report for 2022. The company achieved operating income of 244 million yuan in 2022, an increase of 482.85% over the same period last year of 41.8176 million yuan. Net profit

attributable to shareholders of the listed company was only RMB35.9357 million, representing a decrease of 70.80% as compared with RMB123.0658 million in the same period of last year.

The company's operating income comes from real estate sales, taxi business and property leasing, of which the real estate sales income is 230 million yuan, the taxi business income is 5.4939 million yuan, and the property leasing and other income is 7.0562 million yuan.

As of May 5th, the market value of Tianchen shares was 8 billion 220 million yuan.

According to the first quarterly report of 2023 released by Tianchen on April 27, the balance of cash and cash equivalents was only 598 million yuan by the end of the first quarter. How can housing enterprises with a

market value of just over 8.2 billion yuan and cash on hand of only 598 million yuan leverage large projects of 11.6 billion yuan across the border? The cooperation framework agreement

of Tianchen Co., Ltd. involves a large amount of project investment. If the formal cooperation agreement is signed and the project is officially launched, the company's follow-up investment will be solved through its own funds and external financing, which is also uncertain. Where do the technical talents come from when they

cross the border into the new track?

Across the two major areas of photovoltaic energy storage into the new energy track, can professional technology and talent support this cross-border investment? In the announcement

, Tianchen shares indicated that the direction of this cooperation involves the development of new business for the company. The company has completed the preliminary feasibility demonstration, but there are still risks to the project construction and operation caused by insufficient technology and talent reserve.

On May 5, the media called Tianchen Stock as an investor. The company staff said that the direction of cooperation involves the development of new business for the company. Professionals were hired from Longji last year. Recently, the research team on photovoltaic energy storage may be prepared. When the formal agreement comes to the ground, the professional team will definitely be needed.

Listed staff told the media that last year, the company appointed Wen Zhenli, former vice president of Longji Green Energy Industry Research Institute, as the head of the company's strategic development department, and will actively introduce new energy business related talents.