Under the background of environmental protection, Nandu Power Supply (300068, closing price of 19.61 yuan), which suffered production shutdown at the Linping production base, was in a rush to change. From last year’s over-raised funds, “out†243 million yuan to carry out mergers and acquisitions integration. This is an opportunity to quickly enter into the electric bicycle battery market where the market capacity and growth rate are higher than the main business. Nandu Power's move will bring changes to the company?
2.43 Billion Over-Capital Funds Foreign Investment Nandu Power announced today that the company adjusted 580 million yuan and the interest it generates by changing the use of over-raised funds, of which 243 million yuan was invested overseas. Acquisition of Jieshou Huayu Power Co., Ltd. (hereinafter referred to as Huayu Power) 51% equity and 80% equity of Zhejiang Changxing Wufeng Power Supply Co., Ltd. (hereinafter referred to as Wufeng Power Supply).
According to statistics, Huayu Power was established in October 2008 with a registered capital of RMB 50 million. The company is located in Tianying Industrial Park, Jieshou City, Anhui Province. It covers an area of ​​160 acres and currently has an annual production capacity of 14.4 million sets of plates and 8 million batteries. It is currently one of the largest domestic manufacturers of power batteries and plates. . In 2010 and January-August 2011, they respectively realized operating income of 63,130,600 yuan and 28,007,160 yuan, net profit of -837.76 million yuan and 33,858,400 yuan; and Wufeng Power was established in April 2006, with a registered capital of 5 million yuan. It is a sales company specializing in electric bike batteries. Its sales of battery brands are “New Wufeng†and it has distribution channels and networks throughout the country. In 2010 and January-August 2011, the company's operating income was 12,099,300 yuan and 5,809,004 yuan, respectively, and net profits were -37,701 yuan and 105,600 yuan respectively.
In addition, Nandu Power intends to increase the capital of Chengdu National Shipbuilding New Energy Co., Ltd. (hereinafter referred to as Chengdu State Ship), and holds 51% of its shares after the capital increase. Chengdu State Ship is a newly-emerged company with an annual output of 2.2 million KVAh of lead-acid batteries (equivalent to a daily production of 30,000 electric bicycles for electric bicycles) and lithium battery of 320,000 KVAh. It was established in August last year with a registered capital of 80 million yuan. At present, the project is still under construction and the main body of the plant has been completed.
Currently, the total assets of the Chengdu State-owned ship are 129 million yuan, and the total liabilities are 49.267 million yuan. As the relevant assessment has not yet been completed, Nandu Power has no data on the company’s capital increase price.
Bicycle battery or support "Half the Sky"
It is better to change the use of over-raised funds, but also to invest overseas. Nandu Power's move is also quite helpless.
Nandu Power announced in the announcement that with the continuous deepening of the domestic lead-acid battery industry environmental protection renovation, the industry's ecological environment has undergone major changes. According to statistics, the production capacity of seven major battery-producing provinces and cities (which accounted for 78% of the total national production in 2010) is still in the normal state of production. The production capacity is only about 60 million KVAh, which is equivalent to only 42% of the national production in 2010. Products on the market Prices and prices are expected to be very obvious. At the same time, due to the impact of environmental protection renovation, the company’s production base in Linping has been shut down, production capacity has dropped significantly, and the company has an urgent need to expand production capacity. On the other hand, the leading products of the company have been valve-regulated sealed storage batteries for communications and lithium battery products. The main customers are large-scale communications carriers and communications equipment integrators at home and abroad, and the customer concentration is high, which is in the current market. The environment is obviously unfavorable.
It is reported that the capacity and growth rate of the electric bicycle battery market are higher than that of the communication reserve battery market. Except for Tianneng Power and Chaowei Power, the existing enterprises are all small and medium-sized enterprises. Due to the impact of environmental protection and renovation, the product's capacity is also formed. A huge gap, the corresponding battery prices also have more than 20% increase.
Based on this, Nandu Power is more satisfied with this investment, and it believes that the electric bicycle battery industry has ushered in the first wave of integration, and the timing for the company to enter the field is just right.
According to the analysis of the economic benefits of Nandu Power, it is expected that Huayu Power's production capacity can achieve sales revenue of about 1.5 billion yuan, net profit of over 100 million yuan, and net profit of 70 million yuan (promised by the seller). Equivalent to the net profit of the company last year, electric bicycle battery products are expected to hold up "half the sky" in the future.
2.43 Billion Over-Capital Funds Foreign Investment Nandu Power announced today that the company adjusted 580 million yuan and the interest it generates by changing the use of over-raised funds, of which 243 million yuan was invested overseas. Acquisition of Jieshou Huayu Power Co., Ltd. (hereinafter referred to as Huayu Power) 51% equity and 80% equity of Zhejiang Changxing Wufeng Power Supply Co., Ltd. (hereinafter referred to as Wufeng Power Supply).
According to statistics, Huayu Power was established in October 2008 with a registered capital of RMB 50 million. The company is located in Tianying Industrial Park, Jieshou City, Anhui Province. It covers an area of ​​160 acres and currently has an annual production capacity of 14.4 million sets of plates and 8 million batteries. It is currently one of the largest domestic manufacturers of power batteries and plates. . In 2010 and January-August 2011, they respectively realized operating income of 63,130,600 yuan and 28,007,160 yuan, net profit of -837.76 million yuan and 33,858,400 yuan; and Wufeng Power was established in April 2006, with a registered capital of 5 million yuan. It is a sales company specializing in electric bike batteries. Its sales of battery brands are “New Wufeng†and it has distribution channels and networks throughout the country. In 2010 and January-August 2011, the company's operating income was 12,099,300 yuan and 5,809,004 yuan, respectively, and net profits were -37,701 yuan and 105,600 yuan respectively.
In addition, Nandu Power intends to increase the capital of Chengdu National Shipbuilding New Energy Co., Ltd. (hereinafter referred to as Chengdu State Ship), and holds 51% of its shares after the capital increase. Chengdu State Ship is a newly-emerged company with an annual output of 2.2 million KVAh of lead-acid batteries (equivalent to a daily production of 30,000 electric bicycles for electric bicycles) and lithium battery of 320,000 KVAh. It was established in August last year with a registered capital of 80 million yuan. At present, the project is still under construction and the main body of the plant has been completed.
Currently, the total assets of the Chengdu State-owned ship are 129 million yuan, and the total liabilities are 49.267 million yuan. As the relevant assessment has not yet been completed, Nandu Power has no data on the company’s capital increase price.
Bicycle battery or support "Half the Sky"
It is better to change the use of over-raised funds, but also to invest overseas. Nandu Power's move is also quite helpless.
Nandu Power announced in the announcement that with the continuous deepening of the domestic lead-acid battery industry environmental protection renovation, the industry's ecological environment has undergone major changes. According to statistics, the production capacity of seven major battery-producing provinces and cities (which accounted for 78% of the total national production in 2010) is still in the normal state of production. The production capacity is only about 60 million KVAh, which is equivalent to only 42% of the national production in 2010. Products on the market Prices and prices are expected to be very obvious. At the same time, due to the impact of environmental protection renovation, the company’s production base in Linping has been shut down, production capacity has dropped significantly, and the company has an urgent need to expand production capacity. On the other hand, the leading products of the company have been valve-regulated sealed storage batteries for communications and lithium battery products. The main customers are large-scale communications carriers and communications equipment integrators at home and abroad, and the customer concentration is high, which is in the current market. The environment is obviously unfavorable.
It is reported that the capacity and growth rate of the electric bicycle battery market are higher than that of the communication reserve battery market. Except for Tianneng Power and Chaowei Power, the existing enterprises are all small and medium-sized enterprises. Due to the impact of environmental protection and renovation, the product's capacity is also formed. A huge gap, the corresponding battery prices also have more than 20% increase.
Based on this, Nandu Power is more satisfied with this investment, and it believes that the electric bicycle battery industry has ushered in the first wave of integration, and the timing for the company to enter the field is just right.
According to the analysis of the economic benefits of Nandu Power, it is expected that Huayu Power's production capacity can achieve sales revenue of about 1.5 billion yuan, net profit of over 100 million yuan, and net profit of 70 million yuan (promised by the seller). Equivalent to the net profit of the company last year, electric bicycle battery products are expected to hold up "half the sky" in the future.
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