Core Viewpoint - Longi Green Energy plans to acquire approximately 61.9998% of voting rights in Jingkong Energy through equity acquisition, capital increase, and voting rights entrustment, allowing Longi to have sole control over Jingkong Energy [1] Group 1: Company Overview - Jingkong Energy, established in 2015, focuses on three main areas: power supply systems, smart energy storage systems, and hydrogen fuel cell systems, and has been recognized as a top-tier energy storage manufacturer by Bloomberg New Energy Finance [1] - Jingkong Energy has developed several innovative products, including the world's first power management system IPCP and a 1500V high-voltage liquid-cooled energy storage system, with a global production capacity of 31 GWh and over 10 GWh of grid-connected capacity [1] Group 2: Financial Performance - Longi Green Energy has faced significant financial challenges, reporting a revenue of 50.915 billion yuan for the first three quarters of the year, a year-on-year decrease of 13.10%, and a net loss of 3.403 billion yuan, although this represents a 31.01% reduction in losses compared to the previous year [3] - In the third quarter, Longi reported a revenue of 18.101 billion yuan, down 9.78% year-on-year, with a net loss of 834 million yuan, reflecting a 4.27% reduction in losses compared to the same period last year [3] Group 3: Market Context - The solar industry is currently experiencing a downturn, with major product prices at low levels, leading to profitability pressures across the sector, and Longi Green Energy is the only top four solar module manufacturer without a storage business [3] - The stock price of Longi Green Energy surged nearly 8% on November 14, driven by positive market sentiment regarding its storage business strategy [2]
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