On July 3, the relevant person in charge of Zhengtai Securities Department told reporters that the acquisition of photovoltaic projects is not directly related to the new photovoltaic policy introduced a few days ago, because the company needs to adjust its industrial structure. Regarding the impact of the new photovoltaic policy, the person in charge said that in the short term, the new photovoltaic policy still has a certain impact on the entire photovoltaic industry including the company. In the long run, distributed photovoltaic projects still have room for development under the condition of cost reduction.
17 companies' net profit exceeds120,000 yuan.
Zheng Tai Electric announced that Zheng Tai New Energy, a wholly-owned subsidiary of the trading company, cooperated with six Longji companies on June 29th, 20 18. That is, Xi Anlongji New Energy Co., Ltd. (hereinafter referred to as Anlongji), Guangdong Longji New Energy Co., Ltd., Hebei Longji New Energy Development Co., Ltd., Changling Dongdong New Energy Technology Co., Ltd., Haicheng Shengdi Hailian New Energy Technology Co., Ltd. and Wucheng Senneng Power Technology Co., Ltd. signed a project cooperation and equity transfer agreement and related supplementary agreements to acquire 65,438+000% equity of the above six companies.
The reporter noted that the performance of Longji's six companies selling distributed photovoltaics was not satisfactory. As of March 3 1 2065438, the net profit was all lost, with the most serious loss of Xi Anlongji being 5,948,400 yuan. However, specific to its 17 distributed photovoltaic project company, the consolidated profitability is not bad. As of March 3 1 20 18, the net profit of these 17 companies exceeded120,000 yuan.
Zhengtai predicts that the investment return of the acquired power station is good, which will have a positive impact on the company's future profit growth; According to preliminary calculation, the subject matter of this transaction can contribute to the company's net profit in the second half of the year, and the final data is subject to the company's annual audit report.
Since 20 16 was put into photovoltaic assets, Zhengtai photovoltaic plate has developed rapidly. According to the company's annual report of 20 17, the number of power stations and the total installed capacity of the company at the end of 20 150 were 1547MW respectively. By the end of 20 17, the above data has risen to 329 and 23 14.94MW, which is a very fast growth rate.
Zhengtai said in the announcement that the acquisition further expanded the company's business in the photovoltaic field and optimized the structure and regional layout of the power station. The company told the reporter of the National Business Daily that the sale and acquisition of power stations in the corresponding areas are all policy structural adjustments due to power cuts and other issues.
Zhengtai said: "Distributed photovoltaics have the characteristics of' directional transmission, coordinated power supply, local production and nearby consumption'. At present, China is in a critical period of the reform and development of electricity market transactions. This acquisition provided further support for the company to seize the opportunity of power reform, laid the foundation for the company to quickly lay out the photovoltaic industry on a large scale, promoted the realization of the company's strategy and further enhanced the company's market competitiveness. "
Still affected by the New Deal in the short term
As a leading low-voltage electrical appliance enterprise in China, Zhengtai completed a major asset restructuring on 20 16 and injected photovoltaic assets into the group company. In order to break through the previous situation that the overall performance growth has fallen into a bottleneck due to the downturn in low-voltage electrical appliances business.
After the listing of photovoltaic assets, it injected vitality into Zhengtai's performance. In 20 16, the company's operating income exceeded 20 billion yuan. Among them, the photovoltaic business realized an operating income of about 7.443 billion yuan, an increase of 36.77% over 20 15.
According to the annual report, Zhengtai's 20 17 annual operating income and net profit attributable to shareholders of listed companies were 23.4.1700 million yuan and 2.840 billion yuan respectively, up by 65.438+06. 13% and 29.98% respectively. In the first quarter of this year, Zhengtai's net profit attributable to shareholders of listed companies reached 6,654,380,300 yuan, a year-on-year increase of 70.59%. During the two reporting periods, Zhengtai's net profit attributable to shareholders of listed companies was 2.632 billion yuan and 599 million yuan respectively, with year-on-year growth rates of 64.96% and 85.59% respectively.
On June 1 day, the National Development and Reform Commission, the Ministry of Finance and the Energy Bureau jointly issued the Notice on Photovoltaic Power Generation in 20 18. The scale of photovoltaic construction will be controlled, electricity prices and subsidies will also be reduced, and the new photovoltaic policy will cause industry shocks.
Subsequently, the shares of listed companies in the photovoltaic sector collectively plunged, and Longji shares, Zhonghuan shares, Jingsheng Electromechanical, Chint and other stocks fell, with the overall decline of the sector leading the way. According to rough statistics, on June 4th alone, the market value of listed companies in the photovoltaic sector evaporated by more than 25 billion yuan, while the total net profit of listed companies in the photovoltaic sector was about 30 billion yuan in 20 17.
As of July 3rd, the company's share price closed at 22. 10 yuan, which is still far from the price of 26.02 yuan in June 1 day. Zhengtai told the National Business Daily that at present, the new photovoltaic policy will have an impact on the company in the short term, and the company is actively responding. Even if there is no subsidy in the future, there is still room for further promotion of industrial and commercial distributed photovoltaics with reduced costs. It is reported that Zhengtai received more than 654.38 billion yuan of government subsidies in 2065,438+07.
According to the soochow securities Research Report, the starting point of the policy is the vigorous development of photovoltaic and wind power, and the gap of supplementary funds for renewable energy has been unable to make ends meet. On the one hand, the photovoltaic industry will start to cut prices and accelerate the parity process; On the other hand, industrial chain division is also inevitable, and high-cost and inefficient production capacity is out. After 1~2 years of accelerated parity period, the parity era will come in an all-round way, and the photovoltaic industry will usher in a real take-off.