Chuangjiang New Material has signed an agreement for a 12.62MW rooftop photovoltaic power generation project through its subsidiary. This decision was made during the company’s 32nd board meeting held on March 15, 2025.
The board reviewed and approved the contract energy management agreement for the rooftop distributed photovoltaic project, which involves three subsidiaries entering into contracts with the controlling shareholder, Anhui Chuangjiang Investment Group Co., Ltd. The projects have installed capacities of 2.5MW, 4.27MW, and 5.85MW.
Chuangjiang Group will construct and operate photovoltaic power stations on the rooftops of its subsidiaries’ factories, selling the generated electricity to the subsidiaries at preferential rates. This related transaction does not constitute a significant asset restructuring or a major listing, and thus does not require approval from regulatory authorities. The independent directors have expressed their support for this proposal, which will be submitted for review at the shareholders’ meeting.
According to Tianyancha, Chuangjiang New Material was established on December 21, 2005, with a registered capital of 1.324246265 billion RMB. The legal representative is Jiang Chun, and the registered address is No. 8 Jiuhua North Road, Wuhu Area, China (Anhui) Free Trade Pilot Zone. The company specializes in the research and development, as well as manufacturing of materials.
Currently, Jiang Chun serves as the chairman, Jiang Hongwen is the secretary of the board, and the general manager is yet to be specified. The company employs 7,779 people, with Jiang Chun holding an 18.61% stake in Anhui Chuangjiang Technology New Material Co., Ltd. The company has investments in 28 subsidiaries, including Anhui Chuangjiang High-Precision Copper Strip Co., Ltd., Anhui Chuangjiang High-Tech Electric Material Supply and Marketing Co., Ltd., and Wuhu Chuangjiang Alloy Copper Material Supply and Marketing Co., Ltd.
In terms of performance, the company’s operating revenues from 2021 to 2023 were 37.35 billion RMB, 40.60 billion RMB, and 46.31 billion RMB, reflecting year-on-year growth rates of 62.57%, 8.69%, and 14.08%, respectively. The net profit attributable to shareholders was 567 million RMB, 134 million RMB, and 529 million RMB, with year-on-year growth rates of 106.78%, -76.43%, and 295.92%.
During the same period, the company’s debt-to-asset ratios were 50.82%, 54.22%, and 58.06%. Regarding risk, Tianyancha reports that the company has 1,174 internal risks, 929 surrounding risks, 7 historical risks, and 194 warning alerts.
