NBHX(SZ:002048) Chang Jiang Shang Bao·2025-12-11 23:48Core Viewpoint - Ningbo Huaxiang is intensifying its investment in the new energy components sector through the acquisition of a 40% stake in Shanghai Fengmei Power Systems Co., Ltd. from SAIC Volkswagen, aiming to enhance its transformation in the new energy power field [1][2][3] Group 1: Acquisition Details - The company will invest 2.12 billion yuan to acquire a 40% stake in Fengmei Power, while its controlling shareholder, Fengmei Holdings, will invest 3.18 billion yuan for a 60% stake, totaling 5.3 billion yuan for the entire acquisition [2] - Fengmei Power, established in May 2025, focuses on new energy battery pack assembly and core component manufacturing for engines, with total assets of 429 million yuan as of October 31, 2025 [2] Group 2: Financial Performance - In the first three quarters of 2025, Ningbo Huaxiang reported revenue of 192.24 billion yuan, a year-on-year increase of 5.99%, while net profit attributable to shareholders dropped by 87.62% to 89 million yuan [5] - The company's non-recurring net profit reached 1.071 billion yuan, up 63.72% year-on-year, indicating improved operational efficiency despite challenges [5] - Operating cash flow for the first three quarters was 1.679 billion yuan, reflecting a 58.66% increase, attributed to optimized payment processes and enhanced efficiency [5] Group 3: Strategic Focus - The company is shifting its focus away from European operations, which have been a financial burden, and is concentrating on North America as its primary overseas market [4] - Following the divestment of European subsidiaries, Ningbo Huaxiang aims to strengthen operational capabilities in North America to reduce losses and ensure overall business growth [4]