Xin Xin Ke (002015):2019 Net Profit Of 554 Million Yuan, An Increase Of 66.83% Over The Same Period

On the evening of April 29th, 002015.SZ released its annual report for 2019. Last year, the company achieved an operating income of 10 billion 898 million yuan, an increase of 33.50% over the same period last year, and a net profit of 554 million yuan attributable to shareholders of listed companies, an increase of 66.83% over the same period last year.

This annual report is the first annual report of the company's backdoor entry into the capital market. The company's predecessor was mainly environment-friendly colored polyester yarn and colored yarn, and the former company sold four yuan of net profit from 2013 to 2016, with a total loss of 1 billion 487 million yuan. In April 2015, Xia Ke environmental protection carried out bankruptcy reorganization. During the period, the intelligent energy predecessor Baoli Xin Xin Limited had planned to backdoor listing. After the first failure, the two sides restarted the trading plan in November 2018.

At that time, the announcement showed that the listed company, through setting up a 55% stake in Jiangyin Xiexi color Fiber Co., Ltd., and issuing shares to buy 90% equity interest of Xinxin Intelligent Energy Co., Ltd., Xinxin intelligent energy realized backdoor listing, set up an asset price of 269 million yuan, the target assets were priced at 4 billion 667 million yuan, and the difference was 4 billion 397 million yuan, which was purchased by the listed company in the way of issuing shares.

In May 2019, xinxinke completed a major asset restructuring. Xinxin intelligent energy became a controlling subsidiary of a listed company. Its main business was transformed into clean energy power generation and cogeneration operators and service providers. After restatement of earnings, the net profit of Listed Companies in 2018 was 332 million yuan.

At present, all the original textile assets of Xinxin branch have been put out. According to the latest annual report, in the two main business of the company, the business revenue of electric power business reached 7 billion 302 million yuan, up 43.38% from the same period last year, which is the main growth factor of the company's performance. The business revenue of steam business is 2 billion 901 million yuan, up 26.87% over the same period last year. As of December 31, 2019, the total assets of the company amounted to 24 billion 81 million yuan, up 18.36% from the end of last year, and the owner's equity of the listed company's shareholders was 4 billion 832 million yuan, an increase of 31.81% over the end of last year.

At present, 99.79% of the main business revenue is from China. As of December 31, 2019, the total installed capacity of 3190.64MW of the power plant of Xinxin Energy Holding Co., Ltd. was 90%. In addition to the 362MW of coal-fired combined heat and power generation, the installed capacity of clean energy mainly composed of natural gas and wind energy accounted for nearly two. Among them, the company's wind power installed capacity 205MW, distributed in Inner Mongolia and Shaanxi area; biomass power generation 60.5MW, distributed in Jiangsu; garbage power generation 66MW, distributed in Jiangsu and Henan.

The company is pushing forward the issue of non-public offering stocks. The number of non-public offering stocks will be no more than 270 million shares, and the total amount of funds raised will not exceed 2 billion 320 million yuan. All the investment and investment projects will be completed after childbirth, which will increase the company's installed capacity 295MW.

Regarding this, the relevant people of the xinxinke branch told the financial union reporters that all the investment and investment projects were completed and released. This non-public offering will help the company to enhance its capital strength and ease the pressure of capital demand, while further reducing the company's debt ratio, improving its financial position and improving its ability to resist risks.

The application has been accepted by the SFC. It is worth noting that some analysts told the Associated Press reporter that although wind power business in the long run, in line with the national industrial policy and the company's future strategic planning direction. Since 2020 is the last year window period of this round of wind power rush to install, when the "subsidy" accelerates, the capacity utilization rate of the relevant manufacturing enterprises is generally higher in the first quarter.

Since then, due to the impact of the epidemic on the industry, the wind power industry has generally been delayed by reemployment and restricted by logistics. After the outbreak of overseas epidemic, the industry chain once again faced the dual pressure of import and export. Due to the disruption of construction rhythm, the industry companies faced greater challenges.

According to the 2020 annual business plan disclosed in the annual report, there are more projects in the building. The company will make good time management, quality management and compliance management, and make every effort to ensure that the project is put into operation.

In addition, the company disclosed a quarterly report on the same day. Due to the better performance contribution of the new generating units during the reporting period, the company achieved operating income of 2 billion 517 million yuan in 2020 1-3, an increase of 15.52% over the same period last year, and the net profit attributable to shareholders of listed companies was 89 million 876 thousand and 600 yuan, up 175.76% over the same period last year.