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配股融资超600亿元,股价暴跌超30%
Zheng Quan Shi Bao·2025-08-11 14:38

Core Viewpoint - The significant financing decision by Ørsted has triggered a sharp decline in its stock price, dropping over 30% in major exchanges due to the unexpected capital raise of 60 billion Danish kroner (approximately 67.3 billion RMB) [1][4]. Group 1: Company Overview - Ørsted, headquartered in Denmark, employs around 8,300 people and focuses on developing, constructing, and operating offshore and onshore wind farms, solar power plants, energy storage facilities, and bioenergy plants [4]. - The company anticipates a revenue of 71 billion Danish kroner (approximately 79.6 billion RMB) for the year 2024 [4]. Group 2: Financing Details - Ørsted announced a rights issue to raise 60 billion Danish kroner (approximately 7 billion GBP) to strengthen its financial position amid challenges in its UK and US projects [4]. - The rights issue will be fully underwritten by Morgan Stanley, with existing shareholders having the right to subscribe to their proportional share of the new capital [4]. - The Danish government, as a major shareholder, has committed to subscribing to 50.1% of the new shares [4]. Group 3: Project Challenges - The funds raised will support Ørsted's offshore wind investment portfolio, including projects in Europe, North America, and the Asia-Pacific region [5]. - Ørsted has halted the Hornsea 4 offshore wind project due to rising costs and delays, which is one of the largest offshore wind farms under development globally, with a capacity of 2.4 GW [5]. - The termination of the Hornsea 4 project is expected to incur costs between 3.5 billion and 4.5 billion Danish kroner (approximately 3.825 billion to 4.918 billion RMB) [5]. Group 4: Market Conditions and Performance - Ørsted faces regulatory uncertainties and changing political support in the US, particularly after former President Trump halted the company's equity sale plan for the Sunrise Wind project [6]. - The company reported an EBITDA of 15.5 billion Danish kroner (approximately 17.4 billion RMB) for the first half of the year, up from 14.1 billion Danish kroner in the same period last year [6]. - Ørsted has adjusted its outlook for the offshore wind sector from "high" to "neutral" due to slower market growth and uncertainties [6]. Group 5: Future Outlook - The announced rights issue is expected to strengthen Ørsted's capital structure and provide financial stability from 2025 to 2027, during which the company plans to deliver an 8.1 GW offshore wind construction portfolio [7]. - The company reports that nearly 70% of the offshore wind turbines are being installed at the Revolution Wind and Sunrise Wind projects, with successful initial power generation achieved at the Greater Changhua 2b and 4 projects [7].