Daheng Technology sells additional State Grid energy storage stocks, with the latter's stock price rising nearly 30% since the beginning of this year.

Source: Securities Times Network Author: Liu Canbang

On the evening of March 9, Daheng Technology (600288) announced that to optimize the company’s asset structure, improve asset liquidity and utilization efficiency, and meet future development funding needs, the company sold shares of Nanjing Power Storage (600995) through centralized bidding on the secondary market on March 9, 2026. A total of 8.668 million shares were sold, accounting for 0.2712% of its total share capital. The average transaction price was 16.1105 yuan per share, with total transaction amounting to 1.4 billion yuan (excluding transaction fees).

After this sale, Daheng Technology no longer holds shares of Nanjing Power Storage.

Daheng Technology stated that the company has no related-party relationships with Nanjing Power Storage or its actual controllers, and no other relationships involving ownership, business, assets, debts, personnel, etc. As of the date of this announcement, the shares held by the company in Nanjing Power Storage are not mortgaged, pledged, or subject to other third-party rights, nor are there any major disputes, lawsuits, or arbitration matters involved. There are no judicial measures such as sealing or freezing, nor other circumstances that hinder ownership transfer.

Regarding the impact of the above matter, Daheng Technology said that the sale of the shares of Nanjing Power Storage will help improve asset liquidity and utilization efficiency, optimize the company’s asset structure, and promote sustainable healthy development. There is no situation that damages the interests of the company or all shareholders, especially small and medium shareholders. Additionally, the company will account for the gains from this sale of stock assets in accordance with relevant regulations such as the “Enterprise Accounting Standards,” with the final impact subject to the auditor’s audit results.

Daheng Technology previously disclosed a performance forecast indicating that, based on preliminary calculations by the finance department, it is expected to achieve a net profit attributable to the parent company of approximately 1.06 billion yuan in 2025, turning from loss to profit compared to the same period last year. The net profit excluding non-recurring gains and losses is about 86.48 million yuan.

Daheng Technology stated that earlier strategic adjustments, such as proactively optimizing asset and personnel structures and shutting down, divesting, or transferring non-core and non-performing businesses, have already yielded results. During the reporting period, through expanding markets and controlling costs and expenses, the company’s overall profitability significantly improved in the second half of 2025, achieving a full-year turnaround from loss to profit.

Notably, in terms of non-operating income and expenses, in 2025, Daheng Technology’s holding subsidiary Beijing Zhongke Dayang Technology Development Co., Ltd. held shares of Nanjing Power Storage, and the fair value change of trading financial assets increased by 18.98 million yuan compared to the same period last year.

Looking at Nanjing Power Storage, the company’s main business includes pumped storage, new energy storage, peak regulation hydropower, and technical services, mainly serving the five southern provinces (Guangdong, Guangxi, Yunnan, Guizhou, Hainan). As of the first half of 2025, the total installed capacity of operating units was 12.9642 million kW, including 10.28 million kW of pumped storage, 650,200 kW of new energy storage, and 2.03 million kW of peak regulation hydropower.

Nanjing Power Storage’s performance forecast shows that the net profit attributable to the parent company is expected to be between 1.667 billion and 1.727 billion yuan in 2025, an increase of 47.98% to 53.31% year-on-year. The company stated that in 2025, the inflow to peak regulation power stations was better, leading to increased power generation, and thus higher electricity sales revenue and profits.

Recently, the National Development and Reform Commission and the National Energy Administration issued the “Notice on Improving the Capacity Electricity Price Mechanism for Power Generation” (Fagai Jia Ge [2026] No. 114), which clarifies that independent new energy storage power stations on the grid side will be managed through a list system. Management requirements will be further specified by the National Energy Administration based on supply and demand analysis and supply assurance measures, with project-specific lists formulated by provincial energy authorities in conjunction with price authorities.

Nanjing Power Storage stated that overall, after the implementation of the above notice, the operation of pumped storage power stations will become more market-oriented. At the same time, the “Notice” proposes a capacity electricity price policy for independent new energy storage on the grid side at the national level, which is expected to promote the development of independent new energy storage on the grid. The company will further optimize and improve the development strategies for pumped storage and new energy storage based on the new electricity price policy and the development of renewable energy, continuously enhancing its ability to create value under market-oriented conditions.

As of the close on March 9, the stock price of Nanjing Power Storage has increased nearly 30% so far this year.