Shandong High-Tech Holdings (00412.HK) issued a profit warning, expecting unaudited profit for 2024 to reach RMB 690 million. The announcement stated that the profit growth was mainly due to a significant increase in revenue, a substantial increase in the fair value of financial assets measured at fair value in profit or loss, and asset impairment reversals and lower financing costs.
Since embarking on its strategic transformation journey in the second half of 2021, Shandong High-Tech Holdings has actively promoted a deep adjustment of its business structure, gradually shifting its focus from primarily short-duration debt-type financial investments to emerging industry investment holding. In 2022, Shandong High-Tech Holdings successfully acquired a controlling stake in the Hong Kong-listed company Shandong High-Tech New Energy (01250.HK) through a new share subscription, a key move that marked a significant milestone in its strategic transformation. Entering 2023, Shandong High-Tech Holdings continued its efforts in the emerging industry sector, seizing early-mover advantages. In December of the same year, the company strategically invested in Century Internet (VNET.US), aiming to build an innovative industrial ecosystem of “green electricity + computing power,” laying a solid foundation for future diversified development.
In February 2024, Shandong High-Tech Holdings was included in the Hang Seng Composite Index, signifying that it had met the eligibility requirements for inclusion in the Hong Kong Stock Connect program and reflecting the capital market’s and investors’ high recognition of the company’s financial performance and long-term investment value.
In December of the same year, Shandong High-Tech Holdings continued to strengthen shareholder empowerment, successfully completing the acquisition of all the equity of Shandong High-Tech New Energy held by CITIC Industrial Fund, increasing its shareholding from 43.45% to 56.97%. This acquisition greatly consolidated its industry position in the national new energy market, demonstrating Shandong High-Tech Holdings’ determination and strength in cultivating the new energy field.
Furthermore, Shandong High-Tech Holdings actively promoted the synergistic development path of its green energy industry and data center industry, and fully advanced the Ulanqab source-grid-load-storage integrated project. Upon completion, this project will achieve multiple benefits such as integrated development, local consumption, cost reduction and efficiency improvement, effectively mitigating the risk of power curtailment due to insufficient consumption, and has significant demonstrative significance. This innovative business model will also become a significant advantage for Shandong High-Tech Holdings, differentiating it from other new energy power generation companies and helping the company stand out in market competition.
