HUNAN DEVELOPMENT(SZ:000722) Chang Jiang Shang Bao·2025-06-30 00:22Core Viewpoint - Hunan Development is intensifying its focus on clean energy by investing in distributed photovoltaic projects and restructuring its business to enhance its core energy operations [1][2][3]. Group 1: Investment in Clean Energy - Hunan Development's subsidiary plans to invest approximately 2.1053 million yuan in a distributed photovoltaic project on the rooftop of Xiangke Building in Changsha [1][2]. - The photovoltaic project will utilize a "self-use and surplus electricity grid connection" model, with a planned direct current capacity of about 0.6579 MWp and an alternating current capacity of approximately 0.55 MW [2]. Group 2: Business Restructuring - The company is changing its name from "Hunan Development Group Co., Ltd." to "Hunan Energy Group Development Co., Ltd." to better align with its core energy business [3]. - Hunan Development is divesting from non-core assets, including the liquidation of Hunan Carnation Elderly Research Institute and the transfer of its stake in Hunan Development Group Elderly Industry Co., Ltd. [2]. Group 3: Acquisition Plans - Hunan Development is planning to acquire significant stakes in four hydropower companies, including 85% of Hunan Xiangtou Yuanling Gaotan Power Co., Ltd. and 90% of Hunan Xiangtou Tongwan Hydropower Development Co., Ltd. [4]. - The acquisition will be financed through a combination of issuing shares and cash payments, and is expected to constitute a major asset restructuring [4]. Group 4: Financial Performance - For the year 2024, Hunan Development reported a revenue of 337 million yuan, a year-on-year increase of 15.15%, and a net profit of 67.802 million yuan, up 37.07% [4]. - As of the end of 2024, the company had total assets of 3.441 billion yuan and total liabilities of 270 million yuan, resulting in a debt-to-asset ratio of 7.83%, indicating a strong financial position [5]. Group 5: Future Development Plans - Hunan Development is establishing two wholly-owned subsidiaries focused on new energy projects, with several photovoltaic projects already underway [6]. - The company aims to leverage its financing and resource integration advantages to enhance efficiency and effectiveness in its energy project development and acquisitions [6].