On June 5, Hongrun Construction issued a prospectus (revised draft) for the issuance of shares to specific targets in 2023, with the number of shares to be issued not exceeding 330,750,000 (including this number) and the directional issuance not exceeding 1,519.4337 million yuan. It is used for general contracting of construction projects, upgrading and renovation of metro shield construction equipment, 5G W high-efficiency photovoltaic module project, R & D center construction project and repayment of bank loans.
The announcement shows that the fund raised is used to expand new business and new product 5GW high-efficiency photovoltaic module project, mainly to carry out large-scale production and sales of N-type photovoltaic modules including heterojunction modules and TOPCon, which is the expansion of the company's original photovoltaic operation business to the upstream of the industrial chain.
Hongrun Construction said that while giving full play to its core competitiveness in the field of construction and infrastructure investment, the company will actively develop new energy business. Relying on the original customer channel advantages, years of deep construction experience, and with the support of strategic investors, we will strengthen the investment in photovoltaic power plants and realize the vertical expansion of the industrial chain from power plant operation to photovoltaic EPC, photovoltaic modules and cells. At the same time, the company takes the EPC and operation of photovoltaic power plants as the starting point, extends to the energy storage business, expands the company's integrated energy service sector, improves the company's "building + new energy" two-wheel driving capacity, further optimizes the business structure and profit model, and opens up the company's second growth curve. According to
the data, Hongrun Construction is mainly engaged in municipal public works, housing construction, urban rail transit construction, new energy development business and real estate development. The first quarterly report of 2023 shows that the main business income of Hongrun Construction is 1.558 billion yuan, down 24.6% year on year; the net profit attributable to the parent company is 146 million yuan, up 42.28% year on year; the net profit deducted from non-profits is 142 million yuan, up 37.85% year on year; The debt ratio is 70.42%, the investment income is 2.7072 million yuan, the financial cost is 17.9435 million yuan, and the gross profit rate is 16.94%. At the end of
2020, 2021, 2022 and March 2023, the company's asset-liability ratio calculated by consolidated statements was 77.63%, 78.26%, 73.34% and 70.42%, respectively. The consolidated statement shows that the total liabilities are 13.2 billion, 14.35 billion, 12.02 billion and 10.81 billion respectively. In terms of
risks, according to the instructions, the market development and subsequent growth of Hongrun's 5G W high-efficiency photovoltaic module project are affected by technology, cost control, industry awareness and other aspects, and there is a risk that the short-term business extension and profi t of the 5GW high-efficiency photovoltaic module project will be less than expected.
On May 25, Hongrun Construction announced that the company signed the Project Cooperation Agreement with Hongrun No.1 (Xuancheng) Energy Investment Partnership and Wang Jianhong on May 19 to jointly invest in the establishment of Shanghai Hongrun Energy Storage Technology Co., Ltd. to carry out energy storage projects. EPC project general contracting, as well as R & D, production and sales of box-type energy storage products (including module assembly, system assembly, etc.), to create self-owned brand energy storage products to open up the second growth curve of the company.
浙公网安备33010802003254号