Nenglian Zhidian acquires 89.99% stake in Hong Kong Optoelectronics

Recently, Nenglian Smart Power announced that its wholly-owned subsidiary, DadaAuto, has signed an agreement with Hong Kong Optoelectronics Holdings Limited (hereinafter referred to as "Hong Kong Optoelectronics"), a leading one-stop service provider for solar photovoltaic products in Hong Kong, and its shareholders. Nenglian Smart Power will acquire 89

Recently, Nenglian Smart Power announced that its wholly-owned subsidiary, DadaAuto, has signed an agreement with Hong Kong Optoelectronics Holdings Limited (hereinafter referred to as "Hong Kong Optoelectronics"), a leading one-stop service provider for solar photovoltaic products in Hong Kong, and its shareholders. Nenglian Smart Power will acquire 89.99% of Hong Kong Optoelectronics' equity through DadaAuto for a total consideration of approximately 6.1 million US dollars. The acquisition transaction is expected to be completed and delivered within this month.

It is reported that Hong Kong Optoelectronics focuses on residential and commercial rooftop solar projects, and has developed and constructed a total of 25MW distributed solar projects. Currently, there are over 600 solar projects under construction in Hong Kong. According to a report from the Hong Kong Electrical and Mechanical Services Department, it is expected that by 2026, the solar energy market space for residential and commercial rooftops in Hong Kong will grow to 875MW, the EPC market size will reach HKD 8.75 billion, and the annual electricity revenue scale will be around HKD 3.4 billion.

As the leading company in China's smart energy industry, Energy Chain Smart Power provides one-stop services for the whole industry chain, including charging station location consulting, EPC engineering, operation and maintenance, energy storage, photovoltaic, Virtual power plant, automatic charging robot and other services, and improves industrial efficiency through digital technology and artificial intelligence. In 2022, the charging capacity of Nenglian Smart Electric reached 2.75 billion kilowatt hours, accounting for 20% of the national public charging capacity.

This transaction will enable both parties to achieve comprehensive and deep integration in technology, products, capital, and markets. Nenglian Smart Power has thus entered the field of distributed solar power plants in Hong Kong, taking an important step forward in its business "going global" and continuously exporting new energy products and service solutions to the world; Hong Kong Optoelectronics will rely on the strong capabilities and professional experience of Energy Chain Smart Electric in the field of charging services, as well as the capital advantages of listed companies, to receive comprehensive support. On the one hand, it will significantly improve the operational efficiency and revenue of the current rooftop solar energy business; On the other hand, combine the community resources accumulated by itself, cut into the Charging station operation market in Hong Kong, realize the transformation to a new energy integrated service provider, and seize the opportunity of rapid development.

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