China Communications Construction Co., Ltd. said that through this transaction, the listed company can achieve diversified business layout, thereby enhancing the core competitiveness of the listed company.
Polaris Solar Photovoltaic Network learned that on the evening of March 27, Anhui Provincial Communications Construction Co., Ltd. (referred to as "Communication Construction Co., Ltd.") released the second revised draft of its major asset restructuring plan. According to the plan, China Communications Construction Co., Ltd. plans to purchase the shares held by Wuxi Boda Heyi Technology Co., Ltd. (hereinafter referred to as "Wuxi Boda Heyi") from Wuxi Boda Heyi Technology Co., Ltd. (hereinafter referred to as "Wuxi Boda Heyi") by issuing shares and paying cash. "Boda New Energy") 70% equity, of which 90% of the transaction consideration was paid by China Communications Construction Co., Ltd. in the form of issuance of shares, and 10% of the transaction consideration was paid by China Communications Construction Co., Ltd. in cash. The final transaction price of the underlying assets has not yet been determined.
It is understood that China Communications Construction Co., Ltd. was established in 1969. It was formerly known as Anhui Provincial Highway Engineering Company. It was once affiliated to the Anhui Provincial Department of Communications. It has a special grade of national highway construction general contracting, a first-class general contracting of municipal public works and construction projects, roadbed, pavement, A number of qualifications including first-class professional contracting of tunnels, bridges, traffic engineering, and environmental protection engineering, Class A highway industry design, professional Class A engineering design highway industry, and Class A professional qualifications for highway bridges, tunnels, and subgrade pavement maintenance were issued on October 21, 2019. Listed on the A-share main board of the Shanghai Stock Exchange.
At present, the main business of China Communications Construction Co., Ltd. is centered on engineering construction business, mainly engaged in engineering construction, survey and design, testing and testing related to highways and municipal infrastructure construction fields, and engineering construction in the field of housing construction.
In recent years, there have been a large number of enterprises in the field of engineering construction in my country, which is a completely competitive industry. In addition, the industry concentration is low, market competition has gradually intensified, and the overall profit level of the industry is relatively low. From 2020 to 2022, the gross sales profit margin of Communications Construction Co., Ltd. was 10.05%, 8.32% and 7.79% respectively, showing an overall downward trend.
Against this background, China Communications Construction Co., Ltd. is actively seeking new development opportunities and profit growth points, and plans to enhance the company's overall performance and comprehensive competitive strength through business transformation.
Founded in 2021, Boda Xinneng is a global photovoltaic module manufacturing and branding enterprise with domestic and overseas supply chain integration capabilities. Its main business is the research and development, production and sales of photovoltaic cells and modules. Its main products are cells and Photovoltaic modules.
The second revised draft of the plan shows that Boda New Energy wholly owns approximately 1.6GW of photovoltaic cell production capacity in Vietnam and Cambodia, and participates in 1GW of photovoltaic module production capacity in Cambodia. It will continue to increase photovoltaic cell manufacturing in the future and is expected to achieve 3.5GW by the end of 2023. Photovoltaic cell production capacity scale. At the same time, Boda New Energy has begun preparations for the construction of a photovoltaic silicon wafer project. By then, Boda New Energy will achieve vertically integrated overseas production capacity covering silicon wafers, cells, and component businesses, maximizing its manufacturing and location advantages.
Moreover, Boda Xinneng's brand ETSolar has a strong influence in the global photovoltaic module field, and will launch the global brand EliTeSolar in May 2023 to achieve brand renewal. Since 2012, the ETSolar/EliTeSolar brand has been ranked among Bloomberg New Energy Finance's "Global Tier 1 Module Manufacturers (BNEFTier1)" for thirteen consecutive years; from 2021 to 2023, its core products have won the award from the world's authoritative independent photovoltaic module performance testing laboratory for three consecutive years. PVEL certified "Global Best Performing" component manufacturer.
It is reported that Boda New Energy will achieve operating income of 4.652 billion yuan in 2023, a year-on-year increase of 58.80% compared with 2.929 billion yuan in 2022; net profit is 1.082 billion yuan, a year-on-year increase of 373.89% compared with 228 million yuan in 2022, showing strong Profitability.
The unaudited financial status of Boda Xinneng in the past two years is as follows:
China Communications Construction Co., Ltd. said that through this transaction, the listed company can achieve a diversified business layout, expand its main business from engineering construction to the photovoltaic field, further expand the listed company's business scope, and enhance the listed company's sustainable development capabilities and risk resistance capabilities. , thereby enhancing the core competitiveness of listed companies.
— END —