JA solar company transfer 100% equity in three wholly owned subsidiaries in total of $475 million
It is a good idea to invest in solar power plants to stimulate the production and sale of solar structures(solar racking,solar mounting system).
On November 24, ja solar announced that plans to sell its dunhuang ja solar electric power development co., LTD. (hereinafter referred to as the "dunhuang ja"), chifeng ja photovoltaic power generation co., LTD. (hereinafter referred to as the "chifeng ja"), jarud ja photovoltaic power generation co., LTD. (hereinafter referred to as "jarud ja") three subsidiaries 100% stake, the transfer price of 475.68 million yuan.
At present, the company's grid-connected photovoltaic power stations are all power stations with subsidies, which take a long time to recover, the company said.With the advent of the era of domestic photovoltaic power station parity, develop parity photovoltaic power station, power station project to stimulate module sales, and run by the company before the power station project was for sale.Under the condition of yield meet the requirements of the company, on the one hand, realize the product sales profit, on the other hand, hold to sell electricity during operating income settlement in time, form a good cash flow.
The sale of the above three power station projects and the development and construction of low-cost power stations through the sale of subsidized power station assets and the use of recycled funds will make the operation of assets more efficient and conform to the company's business model of developing photovoltaic power stations, including development, holding and transfer.At the same time, the sale of existing subsidized power stations is equivalent to the early recovery of the overdue subsidy funds, and the overall improvement of the company's power station business cash flow status.
According to the preliminary estimate of the financial department of the company, this transaction will realize the unrealized gross profit of product sales, which is expected to increase the company's net profit by about 110 million yuan in 2020.
