MYSE(SH:601615) Bei Jing Shang Bao·2026-01-15 11:13Core Viewpoint - The wind power company Mingyang Smart Energy is pursuing a merger to acquire control of Zhongshan Dehua Chip Technology Co., Ltd., focusing on the space photovoltaic business, while facing declining profits in recent years [1][3][4]. Group 1: Company Overview - Mingyang Smart Energy is involved in wind turbine manufacturing, renewable energy power generation and sales, and has expanded into photovoltaic, power electronics, energy storage, hydrogen energy, and smart energy sectors [4]. - The company was listed on the A-share market in 2019 and has been diversifying its business in the new energy sector [4]. Group 2: Acquisition Details - The acquisition involves issuing shares and cash to gain control of Dehua Company, which is controlled by the family of Mingyang's actual controller [3]. - Dehua Company specializes in semiconductor products, including space solar cells and flexible solar cells, and has a complete industrial chain capability [3][4]. Group 3: Financial Performance - Mingyang's net profit has declined for two consecutive years, with 2023 and 2024 showing a decrease in net profit [4]. - Financial data indicates that from 2022 to 2024, the company achieved revenues of approximately 307.48 billion, 281.24 billion, and 271.58 billion respectively, with corresponding net profits of about 34.45 billion, 3.77 billion, and 3.46 billion [4]. - In the first three quarters of 2025, the company reported revenues of approximately 263.04 billion, a year-on-year increase of 29.98%, but net profit decreased by 5.29% to about 7.66 billion [4]. Group 4: Market Reaction - Prior to the announcement of the merger, Mingyang's stock price surged, with a 33.6% increase over five trading days, significantly outperforming the market [5][6].