NMHD(SH:600863) Chang Jiang Shang Bao·2025-12-16 00:05Core Viewpoint - Inner Mongolia Huadian (600863.SH) has received approval for a significant asset restructuring, aimed at strengthening its core business and increasing the proportion of clean energy in its portfolio [2][6]. Group 1: Acquisition Details - The company plans to acquire 70% of the equity in Northern Shangdu Zhenglanqi New Energy Co., Ltd. and 75.51% of the equity in Northern Duolun New Energy Co., Ltd. for a total consideration of 5.336 billion yuan [2][4]. - The acquisition will be financed through a combination of issuing shares and cash payments, with a maximum of 2.65 billion yuan raised from specific investors to cover transaction costs and related fees [5][6]. - The overall valuation for Zhenglanqi Wind Power and Duolun is estimated at 4.687 billion yuan and 3.264 billion yuan, respectively, reflecting an appreciation rate of 106.18% and 78.74% [4][5]. Group 2: Financial Impact - Following the completion of the acquisition and ongoing projects, Inner Mongolia Huadian's installed capacity for renewable energy is expected to reach approximately 5.5 million kilowatts, with nearly 50% of its total capacity being from thermal power [3][8]. - The company's revenue and net profit are projected to increase by 7.85% and 23.83%, respectively, compared to pre-restructuring figures, with total assets expected to reach 49.27 billion yuan, a growth of 22.61% [3][9]. Group 3: Strategic Importance - This restructuring is part of Inner Mongolia Huadian's broader strategy to transition towards clean energy, reducing reliance on traditional thermal power amid fluctuating coal prices that impact profitability [7][8]. - The company has been actively enhancing its renewable energy capacity, with significant projects approved and completed in recent years, marking a critical step in its transformation [8][9].