V viewing financial report ｜ "Snake Swallow" asset replacement is completed!Southern network energy is launched, 12.7 billion plus yield hydropower

Zhongxin Jingwei, September 22. Wenshan Electric Power announced on the evening of the 22nd, applied for by the company, and was processed by the Shanghai Stock Exchange. The company's securities were referred to as "Wenshan Power" from "Wenshan Electric Power" to "Southern Network Energy Storage on September 28, 2022 to ", The company's securities code remains unchanged.

"Wenshan Electric Power" becomes "southern network energy storage"

Wenshan Electric Power pointed out that after the company's major asset replacement and issuance of shares to purchase assets and raised supporting funds and related transactions, the company's main business, business philosophy, and development strategy will undergo major changes. The development, investment, construction and operation of hydropower and grid -side independent energy storage business. Combined with the main business of the company's change, the company name has been officially changed to "Southern Power Grid Energy Storage Co., Ltd." to better reflect the company's brand image and establish a unified image recognition, so that the company's securities abbreviation is matched with the company's full name, so Change company securities abbreviation.

On the same day (September 22), Wenshan Electric Power Announcement held the first meeting of the eighth board of directors on September 21, 2022 to review and approve the "Proposal on the Chairman of the Company", and elected Liu Guogang as the eighth session of the company's company. The chairman of the board of directors, the term of office from the date when the board of directors review and approve to the end of the eighth board of directors.

Public information shows that Liu Guogang was born in April 1966, Guizhou Organ, graduate degree. He joined the work in July 1989. He is a senior engineer.

Entering 15.7 billion yuan assets

In October 2021, Wenshan Electric Power announced that the listed company intends to set up relevant assets and liabilities mainly engaged in the purchase and sale, power design and power distribution business, and the target company (Southern Power Grid Southern Power Grid Summer FM Power Generation Power Generation (Southern Power Grid Power Grid Southern Power Grid Southern Power Grid Co., Ltd.) Replacement of the equivalence of 100%equity.

The assets to be set up mainly include direct power supply services of five cities and counties including Wenshan Mountain, Laoshan, Qiubei, Funing, and Xichou in Wenshan Prefecture, and the two counties of Guangxi Power Power Supply Bureau, Guangxi Debao, and Napo The relevant assets and liabilities of the sale of electricity services, as well as 100%equity of Wendian Design Company and Wendian Energy Investment Company held by listed companies.

The asset -intended asset is 100%equity of the target company (Southern Power Grid Summit -DRODE Power Supplement Co., Ltd.). Partnership share.

On August 12, 2022, Wenshan Electric Power announced that major asset replacement and issuance of shares to purchase assets and raised supporting funds and affiliated transactions were reviewed and approved by the M & A Review Committee of the China Securities Regulatory Commission's M & A and reorganization.

On August 30, Wenshan Electric Power disclosed the "Transaction Report". In this transaction, the asset price was 2.104 billion yuan. Methods to buy from the other party. The issuance target of the shares to purchase assets is Southern Power Grid Corporation.

Chuancai Securities research report on September 5th that the company was engaged in power purchase, sales and design related businesses in Wenshan Prefecture, Yunnan Province before reorganization. After reorganization, it will become one of the leading listed companies in the energy storage industry in China. The rapid development of the energy storage industry.

Soochow Securities ’s research report on September 6 believes that if the reorganization is successful, the net profit returning to the mother after the company's transaction in 2021 is 1.049 billion yuan, and the net profit for the preparation of the test in 2022/2023 is 1.3 billion yuan/1.7 billion yuan. Considering that the company is the only pumping asset below the South Network, and maintains the "buy" rating.

Speed ​​up the two major investment projects

Before the official change of securities, Wenshan Electric Power has quickly announced two major investment projects, with a total investment of nearly 12.7 billion yuan.

On September 19th, Wenshan Power announced that the Southern Power Grid Summit adjustment power power generation Co., Ltd. ("Peak Mixing Company") with the Southern Power Grid Southern Power Grid (referred to as the "Peak Mixing Company") signed the "Cooperation to Promote Meizhou to promote Meizhou on September 19, 2022 Framework Agreement on the Development and Construction of Water Dragon Cave Pumping Power Power Station.

The Wuhua County Government agreed to submit the development of the Meizhou Wuhua Longdong Pumping Power Station project to the peak -regulating company in accordance with the law. The Meizhou Wuhua Longdong pumping storage power station project is located in Wuhua County, Meizhou City. The hub buildings are mainly composed of four parts: the upper reservoir, the lower reservoir, the water recasting system and the underground plant. The power station plans to be installed with 1.2 million kilowatts, and the total investment is about 8 billion yuan (the installation scale and investment are subject to national planning and project research conditions).

On the same day (September 19), Wenshan Electric Power announced that the second phase of the Meizhou pumping storage power station (referred to as the "Mei Storage Phase II Project") was started. Construction.

It is reported that the second phase of the Meizhi project is expanded on the basis of the first phase of the project. The main construction content is the second -phase engineering power plant system, the water transmission system, and the switching station. The planned installation capacity is 1.2 million kilowatts, and the total investment is 4.659 billion yuan. (Zhongxin Jingwei APP)

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