Fighting a Shares Again After One Year, What New Story Does the Mysterious Photovoltaic Big Brother Want to Tell?

2025-08-07 18:40:03

If the transaction goes smoothly, Liu Jingqi, a rich man in Wuxi who holds the Boda Department, will eventually be able to land in the capital world as he wishes and tell the new story of the "Boda Department".

On August 5, Sanchao New Material announced that the controlling shareholders and actual controllers of the company were to be changed.

The announcement shows that on August 1, Zou Yuyao, the real controller of Sanchao New Material, and Liu Jianxun, a shareholder holding more than 5% of the shares, signed an equity transfer agreement with Wuxi Boda Unity Technology Co., Ltd. It was agreed that Boda Heyi would transfer 18,985,384 shares of Sanchao New Materials held by Zou Yuyao and Liu Jianxun in two phases by agreement. On the same day, the two sides also signed the Voting Rights Waiver Agreement.

After the completion of the first phase of delivery and the waiver of voting rights, the controlling shareholder of the company will be changed to Boda Unity, and the actual controller will be changed to Liu Jingqi.

At the same time, Sanchao New Material also signed the Share Subscription Agreement with Boda Unity, which intends to subscribe for all 12.475 million shares issued by Sanchao New Material to specific targets in cash . The subscription amount is about 2.

(For details, please click ". Liu Jingqi, a rich man in Wuxi who holds Boda Department, can finally land in the capital world as he wishes and tell the new story of "Boda Department".

Boda's counterattack: from "-70 million" to a net profit of

400 million It is reported that Boda Unity is a holding platform company, mainly through its holding subsidiary Wuxi Boda New Energy Technology Co., Ltd. (Hereinafter referred to as "Boda New Energy") to carry out business. Boda Xinneng is a global familiar with domestic and overseas supply chain integration capabilities Href = "https://www.databm.

According to the announcement of Jiaotong Construction Shares at that time, after the completion of the above transaction, Boda Xinneng will become a holding subsidiary of Jiaotong Construction Shares, and listed companies (referring to Jiaotong Construction Shares) can rely on the financing advantages of the listed platform." Provide necessary financial support for the target company (Boda Xinneng) to promote the rapid development of the target company's business.

But after nearly a year, the deal finally came to an end. In September 2024, Jiaotong Construction announced the termination of the acquisition on the grounds of changes in the overseas market environment. In

less than a year, Boda Unity has changed from "selling children" into listed companies to acquiring shares of listed companies to achieve backdoor listing. From once "holding thighs" to today's "real thighs", this change is the witness of the growth of Boda Xinneng's financial strength.

Through the announcement of Jiaotong Construction Stock and Sanchao New Material, we can know that Boda Xinneng will be in the first half of 2021 to 2025. Its total assets rose from 870 million yuan to 34. As of the first half of this year, the net assets of Boda Xinneng have reached 16.

From the above chart, we can see that it took Boda Xinneng three and a half years to reduce the company's net profit from the end of 2021 to 0.

Since 2024, almost all enterprises in the main photovoltaic industry chain have lost money. Even so, Boda Xinneng remained profitable during this period . In the first half of this year alone, Boda Xinneng achieved a net profit of over 400 million yuan, exceeding the net profit earned in the whole year of 2024.

In today's industry environment, the leading profit is still difficult, how does Boda Xinneng do it? Databm.

As is well known, For a long time, due to trade barriers and other reasons, photovoltaic modules in the United States are significantly higher than those in the world. Taking the price at the end of June this year as an example, the quotation of industry organizations shows that the average price of TOPCon components in the United States is $0.27 per watt (equivalent to about 1.94 yuan per watt ). The average price of TOPCon modules produced in the United States is 0.3 US dollars per watt (equivalent to about 2 RMB)

, and the price of similar products in China is 0.67 yuan per watt. The quotation in India is $0.15/watt (equivalent to about RMB 1.

Such a price difference will win more gross profit space for photovoltaic enterprises. According to the annual report data of the four leading photovoltaic companies in 2024, the gross profit in the Americas can reach 10%-40%.

go backdoor listing at this time?"? Why should the company spend a lot of money on backdoor listing at this time? " In the future, Boda Unity, as the parent company and listed entity at the top of the photovoltaic sector, will be listed in Taike City," he wrote in an official tweet in Wuxi, Jiangsu Province, "Boda Xinneng New Building Officially Opened" in July 2024. "

It can be seen that listing has always been the" white moonlight "in the heart of Boda Xinneng, but the more realistic reason is that Boda Xinneng is in urgent need of funds.In

2023, global photovoltaic enterprises, especially Chinese photovoltaic enterprises, set off a wave of "building factories in the United States", and in just one year , five leading Chinese photovoltaic modules have gathered in the United States.

The market cake is so big, and the people who come to divide the cake are not only many, but also strong. If Boda Xinneng wants to protect its "cake", it needs more capital investment support in terms of technology, product quality and marketing.

Meanwhile, in June 2024, the US tariff exemption for four Southeast Asian countries expired. It was followed by a double-counter investigation by the United States against the four countries. The investigation was settled in May this year. Boda Xinneng Vietnam factory was levied 201.

, but there's more to the bad news than that.".

Trump's return to power is a heavy blow to the photovoltaic industry in the United States. Not only did he cancel (and some are planning to cancel) many of the previous support policies for the photovoltaic industry, but his "Big and Beautiful" bill hit the U.S. photovoltaic industry hard.

According to Wood Mackenzie, the "big and beautiful" bill will make the long-term growth prospects of the United States full of great uncertainty. The agency believes that the long-term outlook for renewable energy in the United States is facing a downward trend, and predicts that with the elimination of tax credits, the installed capacity of solar energy may decline by 17% in 10 years.

All of these mean that Boda Xinneng must go out of the United States to open up new markets. It is even more necessary for Boda to find enough funds to implement "opening up territory".

Listing has naturally become the first choice for Boda Xinneng. It can not only realize the desire to land in the capital market, but also solve the problem of capital, so why not?

All can be viewed after purchase
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