Shanghai Peneng Energy Technology Co., Ltd. issued an announcement that it recently received a notice from the company's controlling shareholder, ZTE New Communications Co., Ltd., that ZTE received a notice issued by the Yongqing County Supervision Commission that Wei Zaisheng, chairman of the company, was placed on file for investigation and detention.
On May 19, the "upstart" energy storage "upstart" on the Science and Technology Innovation Board issued an announcement that it recently received a notice from the company's controlling shareholder, ZTE New Communications Co., Ltd. (hereinafter referred to as "ZTE"), that ZTE received a notice issued by the Yongqing County Supervision Commission that Wei Zaisheng, chairman of the company, was placed on file for investigation and detention.
Paineng Technology said that the company has a sound organizational structure and standardized governance system, and the company will operate in accordance with relevant laws and regulations and relevant systems. As of the disclosure date of this announcement, the company's control has not changed, the board of directors and the board of supervisors are operating normally, the production and operation order of the company and its subsidiaries are normal, and this matter will not have a significant impact on the company's daily production and operation.
According to the data, Wei Zaisheng was born in 1962, and has served as the chairman of Peneng Technology since 2019, and led the company to successfully land on the Science and Technology Innovation Board in 2020, becoming the "first stock of energy storage". However, it does not receive remuneration from listed companies and does not directly hold shares in the company. However, Gongqingcheng Xinwei Investment Partnership (Limited Partnership), in which Wei Zaisheng holds 43.1201% of the shares, is the seventh largest shareholder of Peneng Technology, accounting for 0.99% of the shares.
Wei Zaisheng is a veteran of the "ZTE Department", and joined Shenzhen ZTE Semiconductor Co., Ltd. as early as 1988 as the Minister of Finance. From January 1993 to November 1997, he worked in ZTE and successively served as the general manager of regional markets, assistant to the general manager and chief financial officer.
▲ Wei Zaisheng Image source: ZTE's new website
In the following ten years, Wei Zaisheng worked for ZTE, the world's leading communications equipment manufacturer, the most well-known asset of ZTE, and was in charge of the company's financial and investment management for a long time, successively serving as chief financial officer, senior vice president, executive vice president and director.
After 2017, Wei Zaisheng began to serve as the chairman and legal representative of Zhongxin, the controlling shareholder of Paineng Technology and ZTE.
On May 16, the announcement of the resolution of the 2023 annual general meeting of shareholders of Paineng Technology showed that Wei Zaisheng, chairman of the company, was unable to attend the meeting due to official business.
Tianyancha shows that there are currently 13 affiliated companies of Wei Zaisheng, most of which are subsidiaries of ZTE, including Shenzhen ZTE Xinyun Service Co., Ltd., Hainan Xinghang Technology Co., Ltd., Hangzhou Private South Equity Investment Co., Ltd., etc.
According to the company's website, Paineng Technology was established in 2009 and listed on the A-share market in 2020 as the first share of energy storage. According to its annual report, Paineng Technology focuses on the R&D, production and sales of lithium iron phosphate cells, modules and energy storage battery systems. The company's products can be used in the generation, transmission, distribution, and use of power systems, as well as communication base stations, vehicle energy storage, mobile energy storage and other scenarios.
▲Image source: Paineng Technology's official website
As of March 31, 2024, ZTE, the major shareholder of Paineng Technology, held 24.61% of the shares.
In terms of performance, in 2023, the revenue of Paineng Technology will be 3.299 billion yuan, a year-on-year decrease of 45.13%; The net profit attributable to shareholders of the listed company was 516 million yuan, a year-on-year decrease of 59.49%.
For the change in performance, the company explained that it was mainly due to changes in the macro environment, the decline of subsidy policies in some countries and regions, and the impact of overseas downstream enterprises to destock, and the growth rate of household energy storage market slowed down compared with the previous year. The sales volume of the company's home storage products declined, while new production lines were built one after another, and profits decreased due to the increase in fixed costs.
In the first quarter of 2024, the company's performance will decline again year-on-year, with operating income and net profit of 386 million yuan and 4.0004 million yuan respectively, down 79.05% and 99.13% year-on-year respectively.
On April 29, Peneng Technology said on the investor interactive platform that the company's 2023 annual performance and the first quarter of 2024 did have a significant year-on-year decline, but judging from the quarter-on-quarter data, the company's operating situation is gradually improving.
In recent years, the capital market has been optimistic about the future of energy storage development, and in 2022, the share price of Peneng Technology once rose to 509.51 yuan per share. Up to now, Peneng Technology has reported 75.36 yuan per share, with a total market value of 13.2 billion yuan.
Sources: Shanghai Stock Exchange official website, Brokerage China, Jiemian News, etc
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Editor丨Yan Zhiqiang