Acquisition time of the hottest new energy enterin

New energy entered the "China acquisition" time

they are not the handsome and rich in the traditional sense of China's new energy industry, but in the context of the European debt crisis, they quickly look for fighters, bargain hunting, launched non mainstream mergers and acquisitions, and swallowed the European new energy giant they once admired. The advantageous enterprises selected by Jie Ping, chief economist of Standard Chartered Bank, will be supported by preferential policies. Radlyons even said recently that we are entering the stage of Chinese acquisition from the stage of made in China

intensive acquisition

don't spend money. You can turn over the books of European new energy companies

what can you do with 50000 euros? Take a look at the operation data of European new energy companies. However, this is the past of 2011. Now, without spending money, how long is the production cycle of the experimental machine? Many material manufacturers, universities and scientific researchers are eager to know how long the production cycle of the experimental machine is, and the account book is up to you

there are more amazing things. A famous new energy enterprise in Europe was originally valued at 18 times P/E, but now it is only times sold. Another company, which also said in early 2012 that it had to sell all of them in packages, recently relaxed that it could also be negotiated to buy separately

the ideal buyers are almost all from the same place - China

in the past six months, Trinasolar, the world's fourth largest solar cell manufacturer, has received acquisition requests from at least 50 European peers. Its insiders predict that there may be nearly 100 European companies for sale in the solar industry alone. Jinke energy, another US listed company, recently received nearly ten similar acquisition requests, which was almost zero before the end of 2011

equally busy are intermediaries trying to make deals. Over the past three months, Dong Na, China Marketing Director of green business Norway, a Norwegian non-profit organization based in Europe, began to travel all over China. She has more than a dozen Hot European new energy projects waiting to be launched

under the European debt crisis, more and more European new energy assets began to seek low-key buyers in China, and most of them were in danger of bankruptcy due to lack of funds. The rapidly rising upstart in China's new energy manufacturing industry with abundant funds is a good suitor

on June 5, 2012, hanergy photovoltaic industry group, a private clean energy enterprise, announced the acquisition of solibro, a film subsidiary of German Q-Cells, which was once the world's largest solar cell manufacturer; On June 12, A-share listed company Tianshun Wind Energy announced the acquisition of all operating assets of the Danish varde wind tower plant under Vestas, the world's largest wind turbine manufacturer; On June 13, Guoneng Power Group announced the acquisition of bankruptcy assets of Saab, a famous Swedish automobile brand

there have been three consecutive acquisitions of large European enterprises in a month, and their intensity has attracted the attention of the new energy industry. The common reason for the smooth progress of the above three acquisitions is abundant funds. For example, hanergy is considered to be the cheapest company in the industry due to the cash flow generated by hydropower business, while Tianshun wind energy, which is listed on A-share market, takes the advantage of capital market financing and has less capital pressure

Gao Shuaifu said that no

first, it is not about production capacity, second, it is not about the market, and third, it is not about brand

in fact, in addition to the acquisitions initiated by the above three small and medium-sized enterprises, the media did not make many marriages in 2012. The reason is that those rich and handsome mainstream star new energy enterprises all say no to the above-mentioned cheap assets

I don't care about production capacity, market and brand. Only fools buy it. The chief financial officer of a listed new energy company, who declined to be named, explained that for China's first-line large enterprises such as Suntech, Yingli and Goldwind technology, the above three are not lacking. Even if they wait, they will burn fuses and will not buy a burden. It's like looking for someone. No matter how beautiful this girl is, but she has AIDS, you have to weigh it, right

in the second half of 2011, the Paris Regional Development Bureau once tried to recommend photowatt, the only solar energy enterprise in France with a full industrial chain, to Chinese acquirers, but it took six months to find that Chinese enterprises were not interested

another reason why star new energy enterprises refuse to acquire is that they are short of money. Since 2011, there has been a general decline in the performance of China's wind power and solar energy industries. Most leading new energy enterprises are too busy maintaining their operations, making it more difficult to raise funds for overseas acquisitions. More importantly, leading enterprises with basically finalized industrial chains and business models are also difficult to make decisions to expand new businesses

after hitting a wall in front of the star new energy company, the media found a state-owned enterprise with huge wealth. The partner of a private equity fund in Shanghai has been trying to find a buyer for a European wind power company since 2012. At first, it was thought that the national roller hearth quenching furnace was put into trial production; On December 8th, 2015, the enterprise was easy to do, but after talking with Jinyu, MCC and CSIC, he found that foreigners' understanding was too one-sided

the above partners said that the decision-making process of state-owned enterprises needs at least half a year, but often European partners have only six months of cash flow left

Cao Yin, the director of energy and power business of martec maxela consulting company in China, believes that the acquisitions in the new energy industry since 2012 are not in the core links of the industrial chain such as battery components and fan manufacturing, but rather in the non core links. The capital and business model of small and medium-sized enterprises are relatively flexible, making it easier to complete the acquisition

gags

previously thought we were fooling,

now it's true

since hanergy announced the acquisition of a German subsidiary of Q-Cells, more people talked about the acquisition with Zhou jiesan, senior vice president of hanergy photovoltaic industry group. They used to think we fooled, but now they see it is true. Zhou jiesan said

this was not the case two months ago. At 2:30 p.m. on April 3, 2012, in London, Zhou jiesan just got off the plane. A German Q-Cells company that had just gone bankrupt made Zhou's head buzzing

before that, the five person M & a team of hanergy had prepared for this acquisition for more than three months. Once Q-Cells suddenly went bankrupt, not only the original acquisition plan failed, but also the company's technical team might be scattered

24 hours later, the nine member negotiation team of hanergy arrived at the German headquarters of Q-Cells from China, Britain and the United States at the same time. After many negotiations with creditors, during which, in order to test hanergy's sincerity, the other party even deliberately arranged to meet in another city two and a half hours away

on June 5, 2012, two months later, hanergy announced its official acquisition of 100% shares of solibro, a subsidiary of Q-Cells. This is the first overseas acquisition of hanergy holdings

however, this acquisition has caused great controversy in the industry. Opponents doubted the real intention and management ability of this maverick private enterprise with strong desire to acquire, and they shouted that they couldn't understand it. But Zhou jiesan said that solibro was the best of the more than 20 companies he had seen

prediction

acquisition of the next stop, North America

in the best-selling book "liar's Poker", traders will attribute any mysterious fluctuations in the market to the behind the scenes operations of Arabs. Now, the omnipotent explanation has become Chinese

there will be more and more mergers and acquisitions in the second half of the year. Said yanjunxu, chairman of Tianshun wind energy. Guodongjun, a partner of United capital who has been paying attention to the acquisition of new energy, also believes that there may be more and larger acquisitions in the second half of the year, even some state-owned enterprises. Zhou jiesan, who continues to look for M & A opportunities around the world, also felt recently that the current situation in the North American market is very close to that in Europe in October 2011. More and more innovative companies in North America are in trouble, and the focus of hanergy's mergers and acquisitions will gradually shift from Europe to North America

ambitious Chinese buyers need to be wary that the acquisition of American companies may be more difficult. Zhou jiesan believes that compared with European start-ups, new energy start-ups in North America are better at packaging themselves. Companies often have an extremely luxurious management team for IPO, which not only increases the difficulty for Chinese buyers to peel off the luxury packaging and understand the real situation of the company, but also pushes up the purchase price