410 Million Yuan! Jiaze New Energy Plans to Invest in Shared ESS Power Station Project

On the evening of March 25, Jiaze New Energy (601619) announced that the company plans to invest in the construction of a 100MW/400MWh shared ESS power station project in Mishan City, Heilongjiang Province, with an estimated total investment of approximately 410.52 million yuan. The company will invest funds in phases based on the progress of the project.

The announcement shows that the total scale of the 100MW/400MWh shared ESS power station project in Mishan City, Heilongjiang Province is 100MW/400MWh. The project construction unit is Mishan Zekai, a third-tier wholly-owned subsidiary of the company, and the project construction site is located in Mishan City, Heilongjiang Province. The project is planned to be a 4-hour ESS power station according to 10% of the 1 million kW new energy capacity, with a total capacity of 400MWh. The project is a grid-side standalone ESS demonstration project (grid-connected type). The project will build a new 220kV ESS power station and a new 220kV transmission line to connect to the Mishan 220kV substation. The most mature and stable LFP + ESS battery system on the market will be adopted to configure the energy storage system. The construction period of the above project is about 6 months.

The project is a shared ESS power station supporting 6 projects, including the 200MW wind power project of Jidong County Jiarong New Energy Co., Ltd., the 200MW wind power project of Jidong County Boxiang New Energy Co., Ltd., the 100MW wind power project of Jidong County Bojun New Energy Co., Ltd., the 200MW wind power project of Jidong County Bochen New Energy Co., Ltd., the 100MW wind power project of Suibin Baoxin Jiaze Kaiyang New Energy Co., Ltd., and the 200MW wind power project of Mishan City Boyang New Energy Co., Ltd.

Information shows that Jiaze New Energy has been rooted in Ningxia to carry out new energy power generation projects since its early establishment, with sales in Ningxia accounting for more than 90%. Since 2020, the company has focused on the national "14th Five-Year Plan", studied relevant policies and regional development characteristics of various provinces and cities, and focused on key regions for strategic layout. In key regions, the company mainly adopts the integrated model of industrial investment and project development, actively cooperates with top-tier enterprises in industries such as large-scale wind power and ESS battery manufacturing, and accelerates the development of new energy projects with industrial parks and large-scale base construction as entry points.

On the same day, Jiaze New Energy released its 2024 annual report. In 2024, the company achieved a total operating revenue of 2.422 billion yuan, up 0.79% YoY; net profit attributable to the parent company was 630 million yuan, down 21.53% YoY; non-GAAP net profit was 643 million yuan, down 20.57% YoY; net cash flow from operating activities was 1.786 billion yuan, up 20.46% YoY; in 2024, the basic earnings per share of Jiaze New Energy was 0.26 yuan, and the weighted average return on equity was 9.41%. The company's 2024 distribution plan is to distribute 1 yuan per 10 shares (tax included) to all shareholders.