Core Viewpoint - Longjiang Transportation plans to acquire 100% equity of Heilongjiang Water Transport Construction Development Co., Ltd., a wholly-owned subsidiary of its controlling shareholder, for a price not exceeding 157 million yuan, aiming to enhance its clean energy capabilities and support its strategic transformation into "transportation + new energy + new materials" [1][2]. Group 1: Acquisition Details - Longjiang Transportation intends to purchase the water power assets at a base price of 150 million yuan, with a maximum bid of 157 million yuan through public bidding [1]. - The target company, Heilongjiang Water Transport, operates the Dadingzi Mountain Hydropower Plant, which has a total installed capacity of 66,000 kilowatts and has been operational since October 2007 [1]. Group 2: Strategic Implications - The acquisition is part of Longjiang Transportation's strategy to complete its "graphite mine source - technology research and development - energy supply" industrial chain, providing low-cost and stable electricity for its energy-intensive graphite processing segment [2]. - This transaction is expected to enhance the company's platform functionality, activate existing assets, and facilitate its transition from traditional highway operations to a diversified business model [2]. Group 3: Business Expansion - Longjiang Transportation's subsidiary, Heilongjiang Transportation Longyuan Investment Co., Ltd., focuses on the investment and operation of the new energy industry chain, utilizing integrated technology for sustainable energy solutions [3]. - The company has made significant progress in the graphite new materials sector, with a mining capacity of 2 million tons per year and ongoing technological advancements to support high-quality development in the graphite industry [3]. Group 4: Industry Insights - The transition of state-owned transportation enterprises to new energy is supported by abundant land resources along highways and service areas, which can be utilized for distributed solar, wind, or energy storage projects [4]. - State-owned enterprises have diverse financing channels, making it easier to obtain low-interest loans or policy funds for such transitions [4].