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Source: Changjiang Business Daily

Yongtai Energy (600157LargestpowerballjackpotunclaimedSH) in order to promote the energy storage industry to be better and stronger, to acquire the remaining shares of the holding subsidiary from the related party Hyde shares (000567.SZ).

On the evening of May 13, Yongtai disclosed its asset acquisition plan. The company intends to pay 92.0087 million yuan to acquire 49% of Beijing Detai Energy Storage Technology Co., Ltd. (hereinafter referred to as "Detai Energy Storage") held by Haide. After the completion of this equity acquisition, the company will hold a 100% stake in Detai Energy Storage.

Changjiang Business Daily reporter noted that Detai Energy Storage was originally set up by Yongtai Energy and Hyde shares, and the actual controllers of the two listed companies are Wang Guangxi. As the development platform of energy storage industry under Yongtai Energy, Detai Energy Storage is speeding up the construction of various energy storage projects.

Through this acquisition, Detai Energy Storage will become a wholly-owned subsidiary of Yongtai Energy, further strengthening the company's management of the energy storage sector, while Hyde will focus on the main business of distressed asset management through asset sales. Improve the company's core competitiveness and operational efficiency.

Data show that in recent years, Yongtai Energy has made every effort to create a new pattern of two-wheel drive development of "traditional energy + new energy storage". With the increase in coal production and sales and the decline in costs, Yongtai Energy achieved an operating income of 30.12 billion yuan in 2023, and the net profit belonging to shareholders of listed companies (the same below) was 2.266 billion yuan, an increase of 18.67 percent over the same period last year.

Acquisition of the remaining shares of Detai Reserve Energy

Data show that Detai Energy Storage was originally jointly funded by Yongtai Energy and Hyde in 2022.

According to the announcement issued by two listed companies at the end of August 2022, Yongtai Energy and Hyde invested 510 million yuan and 490 million yuan respectively to set up Detai Energy Storage, with a shareholding ratio of 51% and 49% respectively.

Changjiang Business Daily reporter noted that Yongtai Energy and Hyde shares are listed companies under the same control, their controlling shareholders are Yongtai Group, and the actual controllers are Wang Guangxi.

At that time, Yongtai Energy said that the purpose of this joint investment in setting up the energy storage technology company was to further implement the company's development plan for the transformation to the energy storage industry, and to give full play to the respective advantages of the company and Hyde shares. speed up the development of the whole industry chain in the field of all-vanadium flow battery energy storage, such as energy storage material resource integration, refining smelting, new energy storage materials, electrolyte processing, stack, equipment R & D and project integration, etc. Providing a full range of energy storage solutions for new energy and traditional power systems will further enhance the company's core competitiveness, enhance the company's long-term profitability, and achieve green, low-carbon and high-quality development.

As for Hyde, the company believes that the establishment of Detai Reserve Energy will speed up the investment layout of the company in the energy storage industry, help the company to speed up the expansion of business areas, extend the business chain, enhance the company's asset management capacity in sub-areas, and rapidly create a new profit growth point after the distressed asset management business of To B-end enterprises and non-performing loan business of To C terminal.

Now that it has been more than a year since its establishment, Yongtai Energy has launched an acquisition of its remaining stake. On the evening of May 13, Yongtai Energy announced that the company intends to acquire 49% of Detai Energy held by Hyde shares. After the completion of this equity acquisition, Yongtai Energy will hold a 100% stake in Detai Energy Storage.

According to the evaluation, the market value of the total equity of Detai Energy Reserve shareholders is 143 million yuan, and the market value of 49 per cent of its equity is 70.1057 million yuan. Based on the above evaluation results and the sum of the actual contribution (21.903 million yuan) paid by Hyde shares in the future, both parties determined that the transaction price of 49% of the shares in this transaction was 92.0087 million yuan.

For the purpose of this acquisition, Yongtai Energy said that the acquisition of Detai Energy Storage shares is to further implement the company's "coal power-based, energy storage as the wing" development strategy. Through this acquisition, Detai Energy Storage will become a wholly-owned subsidiary of the company, further strengthen the company's management of the energy storage sector, improve decision-making and operational efficiency, promote the implementation of energy storage projects and improve the energy storage industry, and accelerate the formation of new productivity. Further enhance the company's core competitiveness and market influence, enhance the company's long-term profitability, and achieve green, low-carbon and high-quality development.

Hyde shares said that this transaction is conducive to optimizing the company's asset structure, focusing on the main business of distressed asset management, and improving the company's core competitiveness and operational efficiency.

The first phase of Detai energy storage production line is expected to be put into production in the fourth quarter.

As a leading private coal enterprise, Yongtai Energy has consolidated the foundation of the main coal power industry in recent years, accelerated the construction of key projects such as Haizetan Coal Mine and the implementation of energy storage projects, and made every effort to create a new pattern of two-wheel drive development of "traditional energy + new energy storage".

According to Yongtai Energy, Detai Energy Storage is the development platform of the company's energy storage industry. at present, on the basis of the basic structure of the all-vanadium flow battery industry chain, it is speeding up the construction of various energy storage projects. Comprehensively build and improve the whole energy storage industry chain based on the new energy storage technology of large capacity and long-term all-vanadium flow battery, such as energy storage resource integration, purification and smelting, energy storage equipment manufacturing and project system integration, technology research and development iteration, etc., accelerate the formation of new productivity, and strive to become a leading and leading benchmark enterprise in the development of the whole industry chain of the energy storage industry.

The announcement shows that the first phase of 3000 tons / year high purity vanadium pentoxide separation and metallurgy production line and the first phase of 300MW all-vanadium flow battery and related products production line of Detai Energy Storage have started construction in June 2023 and are expected to be put into production in the fourth quarter of 2024.

As the production line is still under construction, in the first quarter of 2023 and 2024, the operating income of Detai Energy Storage is 3.0181 million yuan and 709400 yuan respectively, and the net profit is-40.5634 million yuan and-13.9312 million yuan respectively.

In addition to promoting the production line construction of energy storage projects in an orderly manner, Yongtai Energy is also actively acquiring high-quality vanadium ore resources. At present, Yongtai Energy has a high-quality vanadium pentoxide resources of 1.5889 million tons.

The stability of the traditional coal and power businesses is the basis for Yongtai Energy to develop its energy storage business. Data shows that Yongtai Energy's coal business will maintain good economic benefits in 2023, and the operating efficiency of the power business will continue to improve. The company achieved operating income of 30.12 billion yuan for the whole year. Although it decreased by 15.29% year-on-year, its net profit was 2.266 billion yuan, a year-on-year increase of 18.67%., the net profit after deducting non-recurring gains and losses (deducting non-net profit, the same below) was 2.359 billion yuan, a year-on-year increase of 41.73%, the highest level after the company's listing.

In the first quarter of this year, Yongtai Energy achieved operating income of 7.321 billion yuan, a year-on-year increase of 3.58%; net profit and net profit deducted from non-profit were 467 million yuan and 471 million yuan respectively, a year-on-year increase of 11.41% and 12.04%.

As another A-share listed company under the control of Wang Guangxi, Hyde achieved operating income of 1.23 billion yuan in 2023, a year-on-year increase of 15.69%; net profit and net profit deducted from non-profit were 880 million yuan and 702 million yuan respectively, a year-on-year increase of 25.68%, 3.98%.