华东重机新跨界业务陷诉讼纷争

Core Viewpoint - East China Heavy Machinery (华东重机) is facing multiple lawsuits related to its new photovoltaic business, which has only been operational for two years, with a total amount involved in the lawsuits reaching 208 million yuan [2][3][5]. Group 1: Legal Disputes - The lawsuits involve four cases initiated by the "Jie Jia" group, including Shenzhen Jie Jia and its subsidiaries, against East China Heavy Machinery's subsidiaries, Wuxi Guangneng and Xuzhou Guangneng, due to equipment sales and maintenance contract disputes [2][3]. - The total amount involved in the lawsuits is 208 million yuan, and the cases have been formally filed in various courts [3][5]. - The disputes arose from disagreements over payment conditions and serious contract breaches, including delayed deliveries by the plaintiffs [4][5]. Group 2: Business Performance and Strategy - East China Heavy Machinery has been diversifying into the photovoltaic sector, investing in a 10GW solar cell production project, but has encountered significant challenges [4][7]. - The company has reported substantial losses in its CNC machine tool business over the past four years, with revenue declines of 44.16%, 7.54%, 79.11%, and 54.53% from 2020 to 2023, leading to a total net loss of 10.73 billion yuan, 14.08 billion yuan, 1.79 billion yuan, and 8.11 billion yuan respectively [5][6]. - The company aims to achieve profitability in 2024, projecting a net profit of 100 million to 150 million yuan, primarily due to improvements in its port machinery business and the successful divestment of its CNC machine tool operations [6][7]. Group 3: Future Outlook - To mitigate losses in the photovoltaic sector, East China Heavy Machinery plans to terminate its investment in a solar cell production project in Bozhou, which had an estimated total investment of around 6 billion yuan [7]. - The company is currently reassessing its strategy in the photovoltaic industry, indicating that future capacity expansion will depend on overall industry conditions [7].