继硅料龙头通威股份收购润阳股份未果之后，光伏行业再现重磅整合。1月17日，TCL中环（002129）披露公告称，拟投资N型电池组件企业一道新能源科 技股份有限公司（以下简称"一道新能源"），双方已签署合作框架意向书。从此次交易来看，这是TCL中环推进适度一体化战略的关键布局，也被市场视为 看中了一道新能源的组件产能。但在当前光伏行业产能过剩的大背景下，TCL中环的这步棋能否走通，又能否走好，其协同效果与市场影响也将引发关注。 1月17日，TCL中环披露公告称，公司拟通过受让股份、接受表决权委托、增资等方式对一道新能源进行投资，本次交易中，主要股东拟转让其持有的全部 或部分标的公司股份，具体转让价格和交易方式等由相关方后续签署协议另行约定。本次交易预计不会构成关联交易，预计不构成重大资产重组。 据了解，TCL中环是光伏硅片龙头企业，公司光伏硅片出货综合市占率持续保持第一；与此同时，公司也在逐步建设电池组件业务能力，截至2025年上半年 末，公司组件产能24GW。 一道新能源则专业从事N型高效光伏电池、组件及系统应用的研发、制造和销售及电站投资、建设、运营于一体，2023年已建成30GW高效电池和30GW高 效组 ...

智通财经1月17日讯（记者刘梦然）继通威股份（600438.SH）收购润阳股份未果之后，光伏行业有望 再迎来一起重磅交易。昨日晚间，TCL中环(002129.SZ)公告称，拟投资一道新能源科技股份有限公司 （下称"一道新能源"）。本次交易中一道新能源的主要股东拟转让其持有的全部或部分股份。 TCL中环是光伏硅片龙头，其出货综合市占率持续保持第一；一道新能源产能主要覆盖电池－组件，根 据infolink发布的统计数据，去年上半年，一道新能源与阿特斯并列组件出货第七，其组件出货量约 15GW。 不过，该笔交易最终未能落实。智通财经记者注意到，在目前的市场背景下，第二梯队厂商也面临着严 峻生存压力。2021至2023年，一道新能源合并报表资产负债率就已经分别高达87.71%、86.54%和 86.89%，迫切的资金需求使其在IPO遇阻后必须寻找替代方案。 硅片龙头欲快速补齐下游短板 截至去年上半年，TCL中环 210 硅片已累计出货超 200GW。在光伏一体化的大趋势下，近两年公司从 硅片业务向下游延伸，形成新能源光伏材料板块、光伏电池及组件板块和其他硅材料板块。 此次收购《意向书》主要内容显示，投资方（TCL中环 ...

Core Viewpoint - The acquisition of a stake in Yida New Energy by Quzhou Industrial Holding Group represents a significant strategic move in the photovoltaic industry, highlighting the increasing involvement of state-owned enterprises in supporting local private companies amid industry challenges [1][2][3]. Company Overview - Quzhou Industrial Holding Group, established in May 2018, primarily engages in construction and real estate development, operating as a state-owned asset management platform under the Quzhou Municipal Government [7]. - Yida New Energy, founded in August 2018 in Quzhou, specializes in the production and sales of solar cell modules and ranked eighth globally in module shipments in 2024 according to InfoLink Consulting [7]. Transaction Details - Quzhou Industrial Holding Group will acquire 17.46% of Yida New Energy's shares, which will increase its voting rights to at least 34.05%, making it the controlling shareholder [2][3]. - Prior to the transaction, Liu Yong held 29.03% of the voting rights, controlling Yida New Energy independently [3]. Strategic Implications - The strategic control by Quzhou Industrial Holding Group marks a critical step in its layout within the new energy industry, aiming to create a leading platform for technological innovation and industrialization in the sector [3]. - Yida New Energy has experienced rapid growth, with revenues increasing from 1.89 billion in 2021 to 22.72 billion in 2023, reflecting a compound annual growth rate of 246.39% [8]. Financial Performance - Yida New Energy's net profits have improved from a loss of 147 million in 2021 to a profit of 460 million in 2023, indicating a recovery trajectory [8]. - The company has maintained a high debt ratio, with asset-liability ratios of 87.71%, 86.54%, and 86.89% from 2021 to 2023, which is significantly higher than its peers [9]. Industry Context - The photovoltaic industry is currently facing a downturn, with limited instances of mergers and acquisitions despite calls for consolidation from associations and government bodies [12]. - Recent examples of state-owned enterprises acquiring struggling private firms in the photovoltaic sector include Xiamen Jianfa's acquisition of Zhongli Group and Zhejiang Energy Group's entry into Zhonglai Co., Ltd [12].