“借力”控股股东跨界储能，泰禾智能意欲何为

Core Viewpoint - The company, Taihe Intelligent, plans to acquire 100% equity of Anhui Sunshine Yuchu New Energy Co., Ltd. from its controlling shareholder, Sunshine New Energy, which is a cross-industry merger despite the target company currently being in a loss position [1][3][5]. Group 1: Acquisition Details - The acquisition price for the 100% stake in Sunshine Yuchu is not to exceed 50 million yuan [3]. - The target company primarily engages in investment, development, and operation of energy storage projects for commercial users, providing necessary energy storage and charging services [3]. - Taihe Intelligent has no prior experience in the commercial energy storage business and lacks relevant technical personnel, indicating significant cross-industry operational risks [3][6]. Group 2: Financial Performance - Sunshine Yuchu reported revenues of approximately 19.78 million yuan and 15.70 million yuan for the years 2024 and Q1 2025, respectively, with corresponding net losses of 6.13 million yuan and 22.66 million yuan [5]. - As of the announcement date, Sunshine Yuchu has not generated profits, which Taihe Intelligent acknowledges will not positively impact its current performance [6]. Group 3: Company Background - The controlling shareholder, Sunshine New Energy, holds 15.22% of Taihe Intelligent's shares and is primarily owned by Sunshine Power, a leading inverter manufacturer in the A-share market [3][4]. - The actual controller of both Taihe Intelligent and Sunshine New Energy is Cao Renxian, who has been in control for just over six months [4]. Group 4: Historical Financial Performance - Taihe Intelligent's net profit has been declining since its A-share market debut in 2017, with profits decreasing from approximately 87.46 million yuan in 2017 to 11.31 million yuan in 2023 [7]. - In 2024, Taihe Intelligent achieved revenue of about 564 million yuan, a year-on-year increase of 10.68%, with a net profit of approximately 21.47 million yuan, up 89.89% year-on-year [8]. - For Q1 2025, the company reported revenue of about 10.5 million yuan, a year-on-year increase of 10.19%, and a net profit of approximately 2.09 million yuan, a significant increase of 716.41% year-on-year [9].