Haining Picheng (002344.SZ) subsidiary plans to acquire shares in 38 photovoltaic companies for 226 million yuan

According to Zhitong Finance App, Haining Picheng (002344.SZ) announced that Haining Picheng New Energy Development Co., Ltd. (“New Energy Company”), a wholly-owned subsidiary of Haining China Leather City Investment Co., Ltd., the company's wholly-owned subsidiary, plans to purchase shares in a total of 38 PV companies under Zhejiang Shengmao New Energy Technology Co., Ltd., Haining Juhui New Energy Co., Ltd. and Haining Xinjie New Energy Technology Co., Ltd. at a price of 226 million yuan.

According to reports, the main business of the target companies is all solar photovoltaic power generation business. After the transaction is completed, the company will hold 100% of the shares of the 38 target companies through its subsidiary New Energy Company, and the target companies will be included in the scope of the company's consolidated statements after completing the share settlement. Relying on its own green energy operation experience, the new energy company lays out high-quality photovoltaic asset business in the Yangtze River Delta. It will further expand upstream and downstream businesses such as integrated energy services and carbon asset management, and strengthen the scale of the new energy sector. The targets of this transaction are concentrated in the Yangtze River Delta Industrial Park. The project is relatively mature, connected to the grid, has a long remaining operating cycle (an average of about 20 years), and has a relatively stable return on investment.