Xindaxin 8 billion PV project for any forced sale?

Polaris solar PV net news: new new material today said in a statement, approved by the company’s Board of Directors, the company proposed to be held in Liaoning new new energy investment limited 51% transfer of shares to natural deer peak. After this transfer of shares, are no longer held in Liaoning new new stake in the company.

Addition to the xindaxin shares, and State power in China (Beijing) international energy investment limited and Wang Chenglin hold fresh new energy 37.96% and 11.04% shares respectively, the share transfer is completed, new new new energy and new material will no longer stock holdings. It is reported that the deer peak shares the transferee is a natural person, and its current logistics group in Western Liaoning province, President.

According to understanding, new Dah Sing material Yu September 2012 and Liaoning province Chaoyang County Government signed has merchants introduction funding agreement, intends joint in the can country electric (Beijing) international energy investment limited in Liaoning province Chaoyang County construction capacity about 400MW of solar PV grid power project, and joint venture registered established has “Liaoning new Dah Sing energy investment limited” to operation PV station project, project total investment up to 8 billion yuan.

Financial data show that as of October 31, 2014, new new in Liaoning province with total assets of 309 million Yuan and net assets of 46.1992 million Yuan January 2014-October, operating income 0,-22.1221 million yuan in net profit (unaudited).

Xindaxin evaluation of new new situation in Liaoning province, due to its restricted by many objective conditions, human, material and financial investment, Liaoning Chaoyang local land and building conditions and the company expected a gap, is not conducive to the realization of strategic objectives of the company.

Meanwhile, xindaxin believes that the holders in Liaoning new new all share, to avoid further new new energy company’s operating loss, effectively avoid risks, but through the construction of solar PV power plant layout of PV industry chain Terminal No change in overall strategy.

In fact, xindaxin at first, after investigation, identifying local light conditions suitable for construction of photovoltaic power plants, found in the actual construction process at a later stage be limited by factors such as land topography. General power plant construction unit at 10MW, led later completed construction of small-scale hydropower station operation and maintenance costs are relatively high.

In addition, local inputs such as land does not allow for rents obtained with longer maturities, allowing only transfer one way, causing companies to invest in the power plant project funding amount of one-time investment is too large, taken the company a lot of money resources and influence of photovoltaic power plant construction continues to grow. In April this year, xindaxin was supposed to be carried out on new new energy capital increase and share expansion, controlling stake indirectly transferred to dry and intellectual wealth, but due to the latter’s own reason, but terminated the capital increase.

Original title: xindaxin 9 billion PV project for any forced sale?

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