COMPLANT(SZ:000151) 鑫椤储能·2025-06-03 08:06Core Viewpoint - Zhongcheng Co., Ltd. plans to enter the energy storage sector by acquiring 100% equity of Zhongji Jiangsu Clean Energy Co., Ltd. from China National Technical Import and Export Corporation, aiming to diversify its business and improve financial performance [1][3]. Financial Performance - Zhongcheng Co., Ltd. has experienced continuous revenue decline and net profit losses in recent years, with reported revenues of 306.73 billion in 2023, down from 422.20 billion in 2022, and a net profit of -49.66 billion in 2023 [2]. - Zhongji Jiangsu reported revenues of 14.47 million and 39.90 million in the last two years, with net profits of 1.49 million and 1.82 million respectively [3]. Acquisition Details - The acquisition price is set at 11.19 yuan per share, which is approximately 22% lower than the latest closing price of 14.31 yuan [4]. - The acquisition will enhance Zhongcheng's asset scale, operating income, and net profit levels, marking its official entry into the energy storage industry [3]. Business Model and Strategy - Zhongji Jiangsu focuses on energy storage projects for industrial and commercial users, utilizing a contract energy management model to provide energy storage solutions and achieve profit through peak and valley electricity price arbitrage [2][3]. - The company has established a strong customer base primarily consisting of large industrial enterprises, which ensures stable electricity consumption [3]. Market Risks - The energy storage sector is influenced by fluctuations in electricity prices, which can affect the economic viability of storage projects and, consequently, Zhongji Jiangsu's revenue and investment returns [4].