Xinte Energy (01799): Tianchi, Xinjiang plans to increase the capital to Shengyu Company by about 210 million yuan and Shengding Company by 388 million yuan

Zhitong Finance App News, Xinte Energy (01799) issued an announcement. On March 7, 2025, Xinjiang Tianchi and its subsidiary Silicon-based New Materials and Xinjiang New Energy respectively signed equity transfer and capital increase agreements with Shengyu Company and Shengding Company. Silicon-based New Materials and Xinjiang New Energy agreed to transfer 12.50% of their respective shares of Shengyu Company to Tianchi, Xinjiang, with a consideration of RMB 467.456 million; Silicon-based New Materials and Xinjiang New Energy agreed to transfer 12.50% of their respective shares in Shengding Company to Tianchi, Xinjiang. 241,000 yuan; and Tianchi, Xinjiang agreed to increase the capital to Shengyu Company by about RMB 210 million and Shengding Company by RMB 388 million as additional registered capital for the target company. After the equity transfer and capital increase are completed, Silicon-based New Materials, Xinjiang New Energy and Xinjiang Tianchi will each hold 40%, 20% and 40% of the target company's shares, and the target company will remain a non-wholly-owned subsidiary of the company.

In order to seize market opportunities and accelerate the development of landscape resources, on August 29, 2024, the company invested in the construction of the Zhundong 1GW optical storage project with Shengyu Company as the main body and Shengding Company as the main investment in the construction of the Zhundong 2GW wind storage project. According to the feasibility study report, the total investment amounts of the Zhundong 1GW optical storage project and the Zhundong 2GW wind storage project were RMB 3.495 billion and RMB 6.656 billion respectively. The Zhundong 3GW new energy project is expected to achieve full capacity integration in 2026, which can further expand the operating scale of the Group's wind energy and photovoltaic power plants and obtain long-term and stable electricity revenue for 20-25 years. The implementation of the equity transfer and capital increase will provide part of the capital required for the project to ensure that the matching financial institution loans are in full and on schedule, which is conducive to the smooth completion of the project according to the plan, the early commissioning of power generation, and the achievement of profits.

Addressing the electricity consumption of Zhundong's 3GW new energy project after it is put into operation is an important influencing factor in achieving the expected benefits. According to the Feasibility Study Report, after all the 3GW new energy projects in Zhundong are completed and put into operation, the total annual average power generation capacity exceeds 6.7 billion kilowatt-hours. Although part of the power generation can be used for the Group's polysilicon production through market-based transactions, there is still some surplus electricity. Tianchi, Xinjiang has a 10-million-ton open-pit coal mine approved by the state. It is committed to the mining and sale of coal and the green development and transformation of coal resources. There is a certain demand for green electricity support in the production and operation process. After the Zhundong 3GW New Energy Project is completed and put into operation, subject to power scheduling and compliance with the power trading policy, Tianchi, Xinjiang can use the green electricity produced by the Zhundong 3GW New Energy Project for its production and operation through market-based transactions, which can further guarantee the consumption of electricity generated by the Zhundong 3GW New Energy Project.