Yuneng Technology plans to acquire a 22% stake in affiliated company Tiantong Youneng to develop industrial and commercial energy storage

The Science and Technology Innovation Board Daily reported on March 27 (reporter Wu Xuguang) that on the evening of March 26, YN Energy Technology announced that the company plans to sign an Equity Repurchase Agreement with Haining Pan-Semiconductor Industry Investment Co., Ltd., a current shareholder of Tiantong YN, to acquire 15 million shares of Tiantong YN at a price of 17.5512 million yuan, accounting for 22% of Tiantong YN’s total share capital.

YN Energy Technology stated that this move aims to further improve the company’s energy storage industry chain layout. The company plans to invest in Tiantong YN, intending to promote the integrated development of new energy storage system technology through complementary advantages and resource collaboration.

Regarding the capital increase, on March 27, a representative from YN Energy Technology’s Board Secretary Office told The Science and Technology Innovation Board Daily reporter that specific cooperation between the two parties has not yet officially commenced, and only a cooperation intention has been reached, with plans to jointly engage in commercial and industrial energy storage-related businesses, and will subsequently expand the commercial and industrial energy storage market together.

As of the announcement date, YN Energy Technology’s related party, Tiantong Holdings, holds 29.3333% of Tiantong YN’s equity. The company’s purchase of Tiantong YN’s equity constitutes a joint investment with the related party Tiantong Holdings, thereby forming a related party transaction. Tiantong Holdings is controlled by Pan Jianqing, a shareholder of YN Energy Technology holding more than 5%, who serves as a director, while the company’s director Pan Zhengqiang serves as vice chairman and president.

It is worth mentioning that upon completion of this equity transfer, Haining Pan-Semiconductor Industry Investment Co., Ltd. will exit the shareholder sequence of Tiantong YN.

Regarding the pricing method for this transaction, YN Energy Technology stated that the price for acquiring Tiantong YN’s equity is based on the total investment amount by Haining Pan-Semiconductor Industry Investment Co., Ltd. in Tiantong YN, plus the calculated returns at an annualized simple interest rate of 8%, which ultimately determines the transaction price.

On the same evening, YN Energy Technology also released another announcement to further expand its share in the energy storage market. The company’s controlling subsidiary, Jiangsu Lingchu YN Technology Co., Ltd. (hereinafter referred to as “Lingchu YN”), plans to jointly invest with the company’s related party Tiantong YN and the non-related party Hangzhou Qizhou Technology Co., Ltd. (hereinafter referred to as “Qizhou Technology”) to establish a joint venture.

It is reported that the joint venture is temporarily named Qiyou Lingchu Technology Co., Ltd., with a registered capital of 30 million yuan, of which Lingchu YN holds 60%, corresponding to an investment amount of 18 million yuan.

A representative from YN Energy Technology’s Board Secretary Office stated that the joint venture will be controlled by the listed company, and all subsequent business of the joint venture will be incorporated into the consolidated financial statements of the listed company. The newly established joint venture will primarily engage in commercial and industrial energy storage-related businesses, “with plans to layout in domestic and overseas markets in the future. The specific layout plan will depend on the subsequent formal cooperation arrangements among the three parties. Currently, the three parties have not signed a formal cooperation agreement, and related businesses have not officially commenced, only a cooperation intention has been reached.”

In terms of complementary advantages for multi-party cooperation, information on Qizhou Technology’s official website shows that the company mainly focuses on network-end business, holding online internet channel resources, with a core focus on the energy internet operation field.

A representative from YN Energy Technology’s Board Secretary Office further told The Science and Technology Innovation Board Daily reporter that Hangzhou Qizhou Technology has rich internet operation channels and mature operational experience in related fields, forming a complementary relationship in online and offline channel resources with YN Energy Technology, providing both parties with good cooperation advantages.

On the business level, YN Energy Technology primarily engages in the research, development, production, and sales of component-level power electronic devices in distributed photovoltaic power generation systems, with core products including micro-inverters, intelligent control disconnectors, energy storage systems, energy communication, and monitoring analysis systems.

The company’s business layout significantly differs from industry leaders like Sungrow Power Supply and Huawei, which focus on centralized inverters and string inverters, with a primary emphasis on the micro-inverter niche market.

Performance reports indicate that YN Energy Technology achieved operating revenue of 1.153 billion yuan in 2025, a year-on-year decrease of 34.87%; the net profit attributable to the parent company was a loss of 131 million yuan, compared to a profit of 140 million yuan in the same period last year; the net profit excluding non-recurring gains and losses was a loss of 158 million yuan, compared to a profit of 121 million yuan in the same period last year.