The A-share power grid equipment sector experienced a surge, with WISCOM hitting the daily limit, Jianan Electronics, SMARTGEN, HUATONG WIRES & CABLES GROUP, Hangzhou Kelin, and Pano Technology following suit

Hangzhou Kelin established a new company including AI and Internet of Things businesses

According to the Qichacha APP, recently, Zhuhai Hengqin Kelin New Energy Investment Co., Ltd. was established with a registered capital of 30 million yuan. The business scope includes the development of artificial intelligence application software; development of artificial intelligence basic software; development of artificial intelligence theories and algorithm software; research and development of Internet of Things technology; and Internet of Things application services, among others. Qichacha's equity penetration shows that the company is wholly owned by Hangzhou Kelin

Hangzhou Kelin released its 2024 annual performance, with a net profit attributable to the parent company of 73.0386 million yuan, an increase of 54.72%

Hangzhou Kelin released its 2024 annual performance, with operating revenue of 541 million yuan, a year-on-year increase of 168.23%; net profit attributable to the parent company was 73.0386 million yuan, a year-on-year increase of 54.72%. The net profit after deducting non-recurring gains and losses was 70.3869 million yuan, a year-on-year increase of 69.35%. The basic earnings per share were 0.67 yuan, with a proposed cash dividend of 2.00 yuan for every 10 shares, and a capital reserve increase of 4 shares for every 10 shares. The performance growth was mainly attributed to the improvement in the energy storage business

Overview of A-share Private Placements: 6 Companies Disclose Progress on Private Placements

On March 18, six companies in the A-share market announced private placement plans, including one that disclosed a private placement proposal, two that were approved by the shareholders' meeting, one that was approved by the exchange, one that was approved by the China Securities Regulatory Commission, and one that has stopped implementation. Hangzhou Kelin's private placement fundraising proposal amount is the highest, not exceeding 1.46 billion yuan. Since the beginning of this year, 28 companies have completed private placement plans, and 13 companies have raised more than 1 billion yuan, among which China National Nuclear Power, Guotai Junan Securities, and SDIC Power have the highest fundraising amounts, at 14.0 billion yuan, 10.0 billion yuan, and 7.0 billion yuan, respectively

Hangzhou Kelin plans to raise no more than 1.46 billion yuan through a private placement for a solar cell module project and to supplement working capital

Hangzhou Kelin plans to raise no more than 1.46 billion yuan by issuing A-shares to specific targets, with the funds to be used for a 1GW efficient perovskite solar cell module project and to supplement working capital. This issuance will not exceed 32.8692 million shares, with the issuance price not lower than 80% of the average price of the 20 trading days prior to the pricing benchmark date. The total investment for the project is 1.261 billion yuan, to be implemented by its subsidiary Hangzhou Kenen New Energy Co., Ltd., with a construction period of 48 months, located in Qiantang District, Hangzhou