The hottest XJ electric announced its restructurin

2022-08-22
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XJ electric announced its restructuring plan to acquire group assets by 2.4 billion

the suspension of trading for more than two months refers to the impact that a structural system was subjected to an instantaneous load. On the evening of December 18, XJ electric announced its private placement plan, officially opening the prelude to the reorganization and breakthrough. After the reorganization, the shareholding ratio of XJ Group to XJ Electric will increase from 19.4% to 40.9%

XJ electric announced that it plans to issue shares to XJ Group to purchase related assets of the main power equipment manufacturing industry under XJ Group, including the business and related assets and liabilities of the flexible transmission branch, 75% equity of XJ power supply Co., Ltd., 10% equity of Xuchang XJ Software Technology Co., Ltd. and 50% equity of Shanghai XJ Electric Co., Ltd

it is estimated that the estimated value of the underlying assets of this transaction is about 1.928 billion yuan, and the supporting funds raised from the targeted issuance of shares of XJ Group is 450 million yuan, a total of 2.378 billion yuan

Yang Fan, chief analyst of power equipment at CITIC Securities, believes that XJ Electric's restructuring plan will inject all the group's current best assets into listed companies, and is expected to increase net profit by nearly 200million yuan this year

If converted into powder

decisive battle power distribution

since 2006, XJ Electric has planned to inject high-quality assets into listed companies three times, but it failed because of advanced evaluation methods, change of actual controller and other reasons

Yao Wu, Secretary of the board of directors of XJ electric, said in an interview with this newspaper that XJ is very confident in this additional issue and believes that this reorganization will effectively enhance the integration ability of power transmission and transformation equipment systems of listed companies and significantly improve the profitability and competitiveness of listed companies

Yao Wu also said that the acquisition of a series of assets is also conducive to the company's further competition for the distribution market. Yang Fan also believes that the distribution business in the next two years will still be Xu Ji's main profit growth point

Liu, senior analyst of industrial securities, should have a large polishing rate at this stage. Jian Gang believes that the distribution automation market is in the early stage of promotion. In 2012, about 30 prefecture level cities carried out the construction of distribution automation, which is expected to be popularized in the third and fourth tier cities within three years, but the eco label products are all in order not to degrade the product performance. Investment in the distribution field is conducive to the substantial growth of XJ Electric's profits

according to the information obtained, XJ Group has signed a strategic cooperation framework agreement with Shandong electric power group company, and has achieved the distribution automation market of the whole Shandong Province

the substantial growth in revenue in the first half of this year mainly came from Shandong market. In addition to Shandong, Beijing, Henan and other provinces and cities are also XJ's advantageous markets. Liu Jiangang said

distribution automation is an integral part of intelligent power construction. In the 12th Five Year Plan of national power, the national power plan gives priority to the construction of the integrated system of distribution automation and distribution regulation in the core areas of 31 key cities, and then gradually promotes its application in the core areas of prefecture level cities that have the conditions

in the previous two years, the state electricity has completed the pilot of distribution automation in 23 cities in two batches. In 2012, about 30 prefecture level cities are ready to carry out the construction of distribution automation, and the whole market is in the preliminary stage of promotion. It is expected that distribution automation will be popularized in the third and fourth tier cities in about three years

a senior executive of China Electric Power Research Institute also said in an interview with this newspaper that at present, distribution automation has been advanced in depth, and it is hoped to extend distribution automation to distribution terminals during the 12th Five Year Plan period

the construction of intelligent substation continues to advance, and it is expected that the industry will maintain a growth rate of 20% - 30% within two years. The market share of XJ electric in the industry is stable at about 15%. Liu Jiangang said at the same time

in addition, XJ Electric is engaged in the production of DC control and protection equipment and DC field equipment after the additional issuance, which accounts for about 50% of the market share in the UHV DC control and protection market

and Pinggao and Nari have their own priorities

in the previous "procurement plan for converter station equipment of UHV/UHV DC transmission project" approved by the national development and Reform Commission, XJ Electric is the manufacturer designated in the plan to participate in the competitive negotiation of engineering equipment bidding

on August 9 this year, during the talks between Li Ruge, chief accountant of State Grid Corporation of China, and Guo Gengmao, governor of Henan Province, the two sides also exchanged in-depth views on the current operation and future development of XJ and Pinggao group, saying that they would further implement the strategic cooperation agreement signed by the two sides, give full play to their respective advantages in capital, technology, market and policy, and strive to improve the core competitiveness of the enterprise

after this additional issuance, XJ Group mainly injected the business of DC transmission converter valve and the business of electric vehicle charging and changing supporting equipment into listed companies. In an interview with this newspaper, the relevant person in charge of XJ electric Securities said that from the perspective of future expectations and planning, the target company will still maintain a complete business structure and stable operation after the completion of this transaction. Through this reorganization, according to the business and product comparison between the assets to be purchased at present and other subordinate enterprises of XJ Group, there is no horizontal competition between XJ Group and XJ electric in the field of power equipment products

but the fact is that there is still some horizontal competition between XJ electric, Pinggao electric and Guodian Nari. Maybe Guodian will further replace the assets of these listed electrical equipment companies to eliminate these problems in the next step. In the future, XJ electric, Pinggao electric and Guodian Nari should have different priorities. A researcher at Andersen Securities said in an interview with this newspaper

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