Huadian New Energy has made its debut, and the largest IPO in the A-share new energy industry is coming
Release time:
2023-06-16
East China (Qingdao) Marine Heavy Industry Group Co., Ltd. is located in the beautiful and fertile Pingdu Development Zone of Qingdao, on the coast of the Bohai and Yellow Seas. The company was founded in 1999 and has successively obtained more than ten qualification certificates, including A1 and A2 pressure vessel manufacturing licenses and pressure vessel design licenses issued by the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China, ASME U stamp certification, ISO9001 Quality Management System, GB/T28001 Occupational Health and Safety Management System, and GB/T24001 Environmental Management System certification. Its main products include Class I, II, and III pressure vessels, wind power generation equipment, power station equipment, chemical equipment, steel plant equipment, and other products
As one of the five largest power generation groups in China, China Huadian Corporation Co., Ltd. (hereinafter referred to as Huadian Group) has made breakthrough in the A-share listing of new energy business.
On June 15th, the A-share IPO application of Huadian New Energy Group Co., Ltd. (hereinafter referred to as Huadian New Energy) was reviewed by the Issuance and Examination Committee of the China Securities Regulatory Commission.
Huadian New Energy plans to raise 30 billion yuan through this public offering of shares, of which 21 billion yuan will mainly be invested in the construction of wind and solar power projects, and the remaining 9 billion yuan will be used to supplement working capital.
Once approved for listing, the fundraising amount for Huadian New Energy's IPO will refresh the fundraising amount of 22.7 billion yuan for Three Gorges Energy (600905. SH), making it the largest IPO in the A-share new energy industry.
After passing the issuance review meeting, Huadian New Energy also needs to obtain the approved issuance approval document issued by the China Securities Regulatory Commission.
Huadian New Energy was established in August 2009, formerly known as Huadian Fuxin New Energy Co., Ltd. (hereinafter referred to as Huadian Fuxin), and is the only platform for the final integration of Huadian Group's new energy business mainly focused on wind and solar power generation.
Huadian Fuxin was listed on the Hong Kong Stock Exchange in 2012. Due to low stock prices and insufficient financing, the company was delisted in 2020. Afterwards, Huadian Group accelerated its asset restructuring and integrated its new energy assets into Huadian Fuxin.
Last March, Huadian Fuxin was renamed Huadian Xinneng. At present, the controlling shareholder of Huadian New Energy is Fujian Huadian Furui Energy Development Co., Ltd., and the actual controller is Huadian Group. Huadian Group controls a total of 83.43% of Huadian New Energy's shares through its subsidiaries.
As of the end of 2022, the installed capacity of Huadian New Energy Holdings' power generation project is 27.23 million kilowatts. Among them, wind power is 20.5826 million kilowatts, and solar power is 6.6574 million kilowatts, with market shares of 6.05% and 3.26%, respectively.
Wind power generation is the main business sector of Huadian New Energy, with revenue accounting for over 75% between 2020 and 2022. In 2022, Huadian New Energy's wind and solar power generation revenue accounted for 80.38% and 19.62% respectively.
According to the prospectus submitted to the meeting, from 2020 to 2022, Huadian New Energy achieved a net profit attributable to the parent company of 4.079 billion yuan, 7.251 billion yuan, and 8.458 billion yuan, respectively.
Against the backdrop of accelerating energy transformation among major power generation groups, Huadian New Energy has a high demand for financing to expand its wind and solar businesses, but there are few channels for obtaining funding.
As of the end of 2022, the total assets of Huadian New Energy were 269.865 billion yuan, with a combined asset liability ratio of 71.26% and a relatively high debt ratio.
In May of this year, Huadian New Energy released a notice on cumulative new loans, stating that as of the end of 2022, the company's loan balance was 167.06 billion yuan, representing 48.963 billion yuan of new loans compared to the end of the previous year, accounting for 79.17% of the net assets at the end of the previous year.
From the perspective of loan channels, over 75% of Huadian New Energy's loans come from bank loans.
According to the prospectus, Huadian New Energy plans to build an installed capacity of 15.1655 million kilowatts of wind and solar power, covering 23 provinces (autonomous regions, municipalities) across the country, with a total investment amount of 80.446 billion yuan.
.
Its main products include flammable and explosive storage tank equipment, highly toxic equipment, gas fuel heaters, clean energy wind turbine towers, high-pressure and highly toxic flammable and explosive containers, high-pressure heaters, low-pressure heaters, heating network heaters, deaerators, heat accumulators, shell and tube waste heat boilers, blast furnace hoods, and other pressure vessel equipment, oil drilling platforms, offshore oil drilling platforms, large-scale chemical equipment, and non-standard equipment, The product is widely used in wind power generation, thermal power generation, petrochemical and other fields.
Qingdao Haiyang Heat and Power Co.,Ltd
Address: No.18 Bifengxia Road, Cross Strait Agricultural Cooperation Pilot Zone, Nancun Village, Pingdu City, Qingdao, Shandong Province
E-mail: hdhyzg@huadonghaiyang.cn
Phone: 13683063006
Address: No.18 Bifengxia Road, Cross Strait Agricultural Cooperation Pilot Zone, Nancun Village, Pingdu City, Qingdao, Shandong Province
E-mail: hdhyzg@huadonghaiyang.cn
Phone: 13683063006
Contact Us
Copyright © 2023 Qingdao Haiyang Heat and Power Co.,Ltd
