Chuanjiang New Materials, a subsidiary of Chuanjiang Group, signed an agreement for a 12.62MW rooftop photovoltaic power generation project on March 15, 2025, during the 32nd meeting of its sixth board of directors. The agreement involves the company’s three subsidiaries entering into a contract energy management agreement for a distributed rooftop solar power project with its controlling shareholder, Anhui Chuanjiang Investment Group Co., Ltd.. The projects have installed capacities of 2.5MW, 4.27MW, and 5.85MW, respectively.
Chuanjiang Group will construct and operate photovoltaic power stations on the rooftops of its subsidiaries’ factories, selling the generated electricity at preferential prices for the subsidiaries’ use. This related party transaction does not constitute a major asset restructuring or a restructuring listing, and therefore, does not require approval from relevant authorities. Independent directors have expressed their agreement with the proposal, which will be submitted for consideration at the shareholders’ meeting.
According to Tianyancha data, Chuanjiang New Materials 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 at 8 Jiuhua North Road, Wuhu Area, China (Anhui) Free Trade Pilot Zone. The company primarily focuses on the research and development and manufacturing of materials. Currently, the chairman is Jiang Chun, the secretary of the board is Jiang Hongwen, and the general manager’s name is not specified. The company employs 7,779 people, with Jiang Chun holding an 18.61% stake in Anhui Chuanjiang Technology New Materials Co., Ltd.
The company has 28 affiliated companies, including Anhui Chuanjiang High-Precision Copper Strip Co., Ltd., Anhui Chuanjiang High-Tech Electrical Materials Supply and Marketing Co., Ltd., Wuhu Chuanjiang Alloy Copper Materials Supply and Marketing Co., Ltd., Qingyuan Chuanjiang High-Precision Copper Strip Co., Ltd., and Anhui Chuanjiang Resource Recycling Co., Ltd.
In terms of performance, the company’s operating revenues for the years 2021 to 2023 were 37.35 billion RMB, 40.60 billion RMB, and 46.31 billion RMB, representing year-on-year growth rates of 62.57%, 8.69%, and 14.08% respectively. The net profit attributable to the parent company 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 asset-liability ratios were 50.82%, 54.22%, and 58.06%. In terms of risk, Tianyancha indicates that the company has 1,174 internal risks, 929 surrounding risks, 7 historical risks, and 194 warning alert risks.
