Source: Changjiang Business News

Sany Heavy Energy plans to build a digital demonstration project of scenic hydrogen storage and ammonia storage to provide strong support for regional carbon peak and carbon neutralization.

on the evening of November 14, Sany Heavy Energy (688349.SH) announced that the company plans to invest 6.5 billion yuan to build Sany Jilin Changling Scenery Hydrogen Storage Ammonia Digital Demonstration Project.

Changjiang Business Daily reporter noted that at present, the wind and wind hydrogen storage ammonia integration industry is becoming a hot spot in the development of the industry. Since the beginning of this year, Trinity has been able to frequently layout and invest in a number of related projects.

Behind the large-scale investment, listed companies have abundant cash flow. In the first three quarters of this year, the net cash flow generated by Sany's operating activities was 1.12 billion billion yuan, a year-on-year increase of 9758.49.

Investment 6.5 billion plus layout green energy

the announcement shows that Sany Heavy Energy plans to invest 6.5 billion yuan to build a digital demonstration project of wind and wind hydrogen storage and ammonia storage in Changling County, Jilin Province. The project is expected to invest in the construction of wind and wind hydrogen storage and ammonia integration industry in Changling County, Songyuan City, and the construction of photovoltaic, wind power generation power stations, transmission lines, hydrogen production and alcohol plants, storage and transportation facilities, etc.

Sany Heavy Energy stated that this foreign investment involves the chemical business related to hydrogen and alcohol production, which is a new business, which will help further optimize the company's business structure, broaden the company's business layout, and continue to strengthen the company's core competitive advantage.

Changjiang Business Daily reporter noted that at present, the integrated industry of wind, wind, hydrogen, storage and ammonia is becoming a hot spot in the development of the industry. Since 2023, Sany has been frequently deployed in this field. In January, Sany Heavy Energy Inner Mongolia Autonomous Region Green Ammonia Project was approved by the Inner Mongolia Energy Bureau. It will build a scenic hydrogen storage ammonia integration demonstration project in Ganqimaodu Port Processing Park, Wulatzhong Banner, Bayannaoer City, with a total investment of 4.27 billion yuan and an annual production of 36000 tons of green hydrogen and 150000 tons of green ammonia, sany Heavy Energy has signed a contract with Delingha City, Qinghai Province to invest in the construction of a scenic hydrogen storage ammonia integration demonstration project.

At present, China's installed capacity of renewable energy ranks first in the world, and it has great potential in the supply of clean and low-carbon hydrogen energy. Hydrogen energy is also an important carrier for energy terminals to realize green and low-carbon transformation.

Zhou Fugui, director, executive president of Sany Group and chairman of Sany Heavy Energy, said at the 2023 annual meeting of Boao Forum for Asia that hydrogen energy should be the final solution for carbon neutrality and is confident that the production cost of green hydrogen can compete with traditional energy within 3 years.

Cash flow is abundant and market share continues to improve

Sany Chongneng was established in 2008. The company is one of the "top 500 new energy enterprises in the world" and has been recognized as a "benchmark enterprise for intelligent manufacturing" by the Ministry of industry and information technology. In recent years, its market share has continued to increase, becoming the top ten wind power manufacturers in the world and the top five wind power manufacturers in China.

Sany Heavy Energy's main products and services include fan products and operation and maintenance services, new energy power plant business, the company has become the State Power Investment, Huaneng, Huadian, China Energy, China Energy Construction, China Power Construction, China General Nuclear and other suppliers.

in terms of production capacity, the company has the R & D and production capacity of 3.XMW to 11MW full series of units. at the Beijing international wind energy conference and exhibition held in October 2023, the company released the world's largest onshore 15MW wind turbine and 13/16MW offshore wind turbine, maintaining a leading edge in the development of large megawatt units.

Sany Heavy Energy has also continuously strengthened its layout of new energy. Recently, Sany Heavy Energy announced that it will invest in the establishment of two new energy power generation companies, namely Hami Xianghong New Energy Power Generation Co., Ltd. and Tuoli Xiangqing New Energy Power Generation Co., Ltd.

In terms of performance, according to the third quarterly report, in the first three quarters of this year, Sany was able to achieve operating income of 7.49 billion yuan, an increase of 18.04 percent over the same period last year; net profit was 1.031 billion yuan, a slight decrease of 1.21 percent over the same period last year; and net cash flow from operating activities was 1.12 billion yuan, an increase of 9758.49 percent over the same period last year.

in the first three quarters, Sany's R & D investment reached 0.684 billion yuan, up 29.01 percent from the same period last year. As of September 30, the company's monetary capital was 9.221 billion yuan.