On August 12, Haining Picheng announced that its wholly-owned subsidiary, Haining Picheng New Energy Development Co., Ltd., intends to acquire 100% equity of 38 photovoltaic companies affiliated to Zhejiang Shengmao, Haining Juhui and Haining Xinjie with 226 million yuan in cash. The relevant equity transfer agreement was signed on August 11. Disclosure
information shows that the main business of 38 photovoltaic companies is solar photovoltaic power generation business , which is distributed in the Yangtze River Delta Industrial Park of Zhejiang, Jiangsu, Anhui and Hubei provinces.
In recent years, the performance of Haining Leather City, which is mainly engaged in leather market rental services, has been under pressure. Since 2022, the company's net revenue has declined for four consecutive years. Haining Picheng said that after the acquisition, the company will take this opportunity to enter the Yangtze River Delta high-quality photovoltaic assets track and expand new businesses such as integrated energy and carbon management, which is expected to increase future business performance and foster new profit growth points.
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