The hottest Senyuan electric power jointly builds

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Senyuan Electric: strong companies jointly build a new energy cooperation platform


on December 17, the company announced that the company signed a strategic cooperation agreement with Pingmei Beikong, and the two sides plan to cooperate in the 204mw wind power project constructed by Pingmei Beikong, with an estimated cooperation amount of 1.5 billion yuan

at the same time, the following agreements are reached: 1) for the projects constructed by both parties, the other party shall be preferred as the general contractor; 2) Under the premise of the company's entry, the power station projects built and contracted by Pingmei Beikong will give priority to the purchase of company equipment, and the company guarantees to provide Pingmei Beikong with the best product construction price. 3) The two sides have conducted in-depth cooperation at the business level to promote the implementation of various business models such as integrated procurement and barter trading of the system in specific projects

key points of investment:

work together with Pingmei Beikong to jointly build a new energy cooperation platform. Pingmei Beikong is a large-scale clean energy comprehensive service platform in the Central Plains jointly established by Beikong clean energy group and China Pingmei Shenma Group. It provides "wind, light, heat, water, gas" and other clean energy services for the construction of the Central Plains Economic Zone. It has strong technical strength and complete professional supporting facilities. The errors in the content package and labor of this cooperation include five projects, of which two are centralized projects and three are decentralized projects, with a total planned capacity of 204mw, and the corresponding amount is expected to be 1.5 billion yuan, of which 154mw has been approved and is ready for construction, and the other 50MW has been approved by Henan Provincial indicators, waiting for approval. The company signed a strategic cooperation agreement with Pingmei Beikong this time. The two sides will establish a comprehensive cooperative relationship in the field of new energy, which is conducive to the company's access to high-quality project resources, give full play to the company's advantages in integrated system integration, supply and service, and optimize its layout in the new energy industry

technology reserves are transformed into industries, and the business space of smart factories and nuclear power is opened. The company plans to issue convertible corporate bonds and invest 1.19 billion yuan in industrial intelligent equipment (industry) and intelligent factory logistics (AGV) projects. The company has rich research achievements in technology and intelligent products and has been put into practical application: 1) developed six axis joint robots with loads of 6kg, 20kg, 50kg and 220kg and four axis joint robots with loads of 120kg, realizing the functions of welding, handling, stacking and so on; 2) AGV intelligent logistics automation system with two driving modes and loads of 3 tons, 5 tons, 10 tons and 30 tons; 3) Robot flexible intelligent manufacturing integrated system; 4) Large scale automatic storage system; 5) MES is a complete set of equipment intelligent production system that is fully integrated and applied; 6) Intelligent factory integration system, etc

at the same time, the company plans to invest 286 million yuan to discuss with colleagues on the industrialization project of class 1E medium and low voltage switchgear and components for nuclear power. On October 9, the company obtained the design license of civil nuclear safety equipment and the manufacturing license of civil nuclear safety equipment issued by the national nuclear safety administration. At present, the performance of class 1E AC medium and low voltage switchgear and high voltage AC vacuum circuit breaker of the company's nuclear power has been recognized by authoritative institutions, The performance has reached the international advanced level. The company has successively cooperated with large central and state-owned enterprises such as SDIC, Huaneng Group, China Resources new energy, CGNPC, Shandong Guorui energy, etc. in 2016, the company was shortlisted as a supplier of China nuclear industry group, cecep wind power, and China Power Group. In 2017, the company was shortlisted as a supplier of SDIC, laying a good foundation for the application of the company's nuclear power products in nuclear power plants

through the fund-raising projects, the company's technical reserves will be successfully transformed into industries, which will help to enhance the company's competitiveness in high-end manufacturing equipment and further open up business space

Henan assets and Zhongyuan financial holding strategy enter the market, and industry and capital are combined and complementary. In the third quarter of this year, Henan assets were increased through secondary market operation, and Xinjin was the fifth largest, with a shareholding of 4.12%. On November 30, the board of directors of the company decided to nominate Mr. Chen Xiangyu as the candidate for director. Mr. Chen Xiangyu currently serves as the financial manager and employee supervisor of Henan asset planning and finance department. The largest shareholder of Henan assets is Henan Investment Group Co., Ltd., which is the main body of investment and financing of Henan provincial government. It has a number of high-quality financial assets. On August 31, the company signed a strategic cooperation agreement with Henan assets. Henan assets will use its own advantages to provide professional services for the company's possible industrial investment, creditor's rights and debt adjustment businesses, and help the company achieve industrial transformation and upgrading

in the first quarter of this year, Zhongyuan financial holding increased its holdings in the secondary market. At present, it is the seventh largest shareholder of the company, and its holdings are often littered, landfilled, or polluted the oceans and rivers by 2.64%. On June 11, the board of directors unanimously approved the proposal to add Tian Xu, executive deputy general manager of Zhongyuan financial holding, as a director candidate. Henan assets and Zhongyuan financial holding are excellent local financial platforms and high-quality strategic investors. The introduction of Henan assets and Zhongyuan financial holding into the board of directors is conducive to the deep cooperation between industrial capital and financial capital

adhere to the dual wheel drive of "big electric" and new energy, and achieve major breakthroughs in international business. At present, more than 60% of the company's revenue is concentrated in Central China. The company uses its regional advantages to achieve steady sales growth in Central China, and breakthroughs have been made in business expansion in other regions. In the first half of the year, the company's revenue in East China increased by 20% year-on-year, and the sales revenue in South China increased by 698% year-on-year. In addition, the cooperation between the company and the subordinate companies of Sinochem oil has promoted the application of the company's products in the petrochemical field. The company has strengthened cooperation with well-known enterprises such as Jianye group to promote the application of the company's products in the real estate field. In terms of new energy, while actively developing the distributed photovoltaic stock business, we have increased the expansion of new energy fields such as wind power. A number of products of the company have passed the certification of Kema laboratory in the Netherlands, which is the most authoritative in the world. In the first half of the year, the company signed the agreement on the 100MW coal-fired power plant project in talemen, zakhan Province, Mongolia with Mongolian New Asia Group Co., Ltd., with a contract amount of about US $180million, making a major breakthrough in the international market

and investment rating: we are optimistic about the company: 1) cooperate with Pingdingshan Beikong to build a new energy cooperation platform and obtain high-quality project resources; 2) Technology reserves have been transformed into industries, and business space for smart factories and nuclear power has been opened, bringing new growth points to the company; 3) Adhering to the development strategy of combining transmission and distribution with new energy, and giving play to the synergy between the two; 4) The business of low-voltage complete equipment has developed rapidly. At the same time, the domestic business has expanded outside central China, and the international business has achieved breakthroughs. Based on the principle of prudence, the impact of convertible bond projects on the company is not considered temporarily. It is estimated that the annual EPS of the company is 0.66 yuan, 0.82 yuan and 0.98 yuan, and the corresponding PE is 25 times, 20 times and 17 times respectively, maintaining the "buy" rating

risk tip: the landing of the cooperation project between the two sides does not meet expectations; The landing time of the raised investment project is less than expected; Uncertainty of order delivery; Industrial and financial cooperation is less than expected; The progress of convertible bond issuance is less than the expected risk

(the article "although steel structures have many advantages:)


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