新筑股份58亿资产大置换，四年累亏15亿后押注清洁能源

Core Viewpoint - New筑股份 is attempting to reverse its financial decline after four consecutive years of losses exceeding 1.5 billion yuan through a significant restructuring involving the divestment of underperforming assets and acquisition of a controlling stake in 四川蜀道清洁能源集团有限公司 [1][3] Group 1: Restructuring Strategy - The restructuring involves a "three-step" asset swap strategy, including the sale of 100% equity in 川发磁浮 and related debts, and the sale of 100% equity in 新筑交科 [2] - The total transaction value exceeds 7.2 billion yuan, with the acquisition of 60% equity in 蜀道清洁能源 valued at approximately 5.814 billion yuan and the divestment of assets valued at about 1.392 billion yuan [2] - The company plans to raise up to 2.8 billion yuan from specific investors to fund various clean energy projects [2] Group 2: Financial Performance and Challenges - From 2021 to 2024, New筑股份 reported cumulative losses of 1.55 billion yuan, with a significant drop in revenue of 36.97% in the first three quarters of 2025 [3] - The magnetic levitation business has been a major drag on performance, with ongoing losses and low market penetration [3] - The traditional bridge component business, while profitable in 2024, faces increasing competition [4] Group 3:蜀道清洁能源 Overview - 蜀道清洁能源, established in March 2022 with a registered capital of 7.5 billion yuan, focuses on clean energy projects including hydropower, wind power, and solar energy [5] - By the end of 2024, 蜀道清洁能源 had an installed capacity of 11.5 million kilowatts, with a rapid growth trajectory reflected in its financials [6] - The company aims to enhance the core competitiveness of New筑股份 and facilitate a transformation towards clean energy generation [6]