又一国企跨界进军储能行业

Core Viewpoint - The article discusses the acquisition plan of Zhongcheng Co., a subsidiary of Guotou Group, to purchase 100% equity of Zhongji Jiangsu from China National Technical Import and Export Corporation, along with raising supporting funds from specific investors. The focus is on the business model and financial performance of Zhongji Jiangsu in the energy management sector [1][2]. Group 1: Acquisition and Financial Overview - Zhongcheng Co. plans to acquire 100% equity of Zhongji Jiangsu, which was established in 2021 with a registered capital of 63.49 million yuan, focusing on investment, development, and operation of energy storage projects for commercial users [1]. - In 2023 and 2024, Zhongji Jiangsu is projected to achieve revenues of 14.4655 million yuan and 39.9 million yuan, with net profits of 1.4913 million yuan and 18.1592 million yuan respectively, indicating a net profit margin of 45.5% for 2024 [1]. Group 2: Business Model and Challenges - Zhongji Jiangsu's core profit model relies on the price difference between peak and valley electricity rates, purchasing electricity during low price periods and selling it during high price periods, sharing profits with commercial users [2]. - The business model faces three main challenges: 1. The reduction of peak-valley price differences in Jiangsu and other regions, expected to cut profit margins by 20% to 30% [2]. 2. Increased uncertainty in station revenues due to the full market entry of renewable energy [2]. 3. The low technical barrier of the business model makes it easily replicable, posing a risk to establishing a competitive moat [2].