On August 1, China Southern Power Grid Energy Storage Co., Ltd. (CSG Energy Storage) issued an announcement stating that its subsidiaries—Qinzhou Pumped Storage Power Generation Co., Ltd., Guilin Pumped Storage Power Generation Co., Ltd., Yulin Pumped Storage Power Generation Co., Ltd., Guigang Pumped Storage Power Generation Co., Ltd., and Nanning Pumped Storage Power Generation Co., Ltd.—plan to introduce strategic investors through capital increase and equity expansion. The projects have been pre-listed on the China Beijing Equity Exchange (CBEX).
All five companies seeking strategic investors are controlled or wholly owned subsidiaries under CSG Energy Storage.
Details of the five subsidiaries are as follows:
- Qinzhou Pumped Storage Power Generation Co., Ltd.:Registered capital of 1.538 billion yuan, 100% owned by CSG Energy Storage.
- Guilin Pumped Storage Power Generation Co., Ltd.:Registered capital of 1.61 billion yuan, with CSG Energy Storage holding a 90% stake.
- Yulin Pumped Storage Power Generation Co., Ltd.:Registered capital of 1.663 billion yuan, with CSG Energy Storage holding a 90% stake.
- Guigang Pumped Storage Power Generation Co., Ltd.:Registered capital of 1.615 billion yuan, 100% owned by China Southern Power Grid Peak Regulation and Frequency Modulation Power Generation Co., Ltd.
- Nanning Pumped Storage Power Generation Co., Ltd.:Registered capital of 1.60 billion yuan, also 100% owned by China Southern Power Grid Peak Regulation and Frequency Modulation Power Generation Co., Ltd.
According to the announcement, this capital increase and equity expansion will replenish construction funds for project development, optimize the company's capital structure, enhance asset-liability management, and bolster investment capacity, aligning with the company's high-quality development objectives. The transaction will not impact CSG Energy Storage's actual control over these subsidiaries, and their financial results will remain consolidated within the company's financial statements.
CSG Energy Storage noted that the current pre-listing stage is primarily aimed at soliciting interest from potential investors and does not constitute a formal transaction. Following the completion of relevant corporate review procedures, the company will disclose specific details—including the target fundraising amount, corresponding equity shares, investor eligibility requirements, and capital increase terms—during the official listing phase.
Source：EnergyTrend
