bohui petrochemlcal(SZ:300839) Nan Fang Du Shi Bao·2025-07-21 09:45Core Viewpoint - Bohui Co., Ltd. plans to invest up to RMB 390 million to enter the intelligent computing power industry despite facing financial difficulties and consecutive losses over the past two years [2][3][4]. Financial Performance - The company reported revenues of RMB 2.965 billion, RMB 2.778 billion, and RMB 2.279 billion for the years 2022, 2023, and 2024, respectively, with net profits of RMB 141 million, -RMB 199 million, and -RMB 306 million, indicating a trend of increasing losses [3]. - In Q1 2025, the company generated RMB 535 million in revenue, a year-on-year decrease of 32.42%, with a net loss of RMB 47 million, which is approximately half of the previous year's loss [3]. Investment Plans - The investment will be made through its wholly-owned subsidiary, Wuxi Jizhi Liquid Cooling Technology Co., Ltd., to purchase servers, data center facilities, and related technology services, with a total procurement amount not exceeding RMB 390 million [3][4]. Funding and Financial Health - As of March 31, 2025, the company had cash reserves of RMB 362 million, alongside short-term borrowings of RMB 436 million and non-current liabilities due within one year amounting to RMB 311 million [3][4]. - The company announced plans to raise up to RMB 416 million through a private placement to replenish working capital and repay bank loans, with the new major shareholder being Wuxi Huishan Yuanxin Investment Partnership [5]. Strategic Changes - The company has recently undergone a change in control, with Wuxi Huishan Yuanxin becoming the new controlling shareholder, backed by state-owned assets [5]. - The entry into the intelligent computing power sector is seen as a significant shift for a company traditionally focused on petrochemicals, with potential support from state-owned and Alibaba-related entities [5].