Cutting-edge technology: Starting with individual stealth equipment

Chapter 118 The First Single-Linear Technology Photovoltaic Power Station

With the withdrawal of the seven external shareholders of DeepBlue Technology completed, the next step is for the four major state-owned institutions to enter the market.

Lin Chuan returned to his office and picked up the phone to dial He Yunting's encrypted number: "Director He, all seven investors have signed the exit agreement, and the share buyback is complete."

He Yunting's voice came from the other end of the phone: "The national side is also making progress simultaneously, and it should be officially completed before the end of this year."

Then, He Yunting asked, "Oh, by the way, how much is the repurchase amount?"

Lin Chuan replied, "420 billion."

This is about 200 billion less than expected. Under normal circumstances, the seven major investors would never agree to this, but since it involves a higher level of negotiation, they have no choice but to accept it.

A moment later, He Yunting replied, "You should first apply for a bank loan in the name of DeepBlue Technology. We will disburse the loan to you as quickly as possible."

Lin Chuan: "Okay."

The 420 billion yuan needed for the exit of the seven major investors will be provided by the state. DeepBlue Technology will not bear this cost. Four state-owned institutions will invest with their own capital, part of which will be used to hedge this repurchase fund.

After exchanging a few words with He Yunting, I hung up the phone, and the matter was considered closed.

Sunday, August 24th, 10:00 AM.

DeepBlue Technology has released a significant announcement through official channels: "DeepBlue Technology's Announcement Regarding Changes in Shareholders' Equity."

The repurchase targets are seven investment institutions, including Sequoia Capital, IDG Capital, and Golden Capital. The repurchase targets are the 21% equity stake in the company held by the seven institutions, with a total repurchase amount of RMB 420 billion.

The funds will come from the company's own funds and bank credit lines. After the repurchase is completed, the above seven institutions will no longer hold any shares in the company.

The company repurchased 21% of DeepBlue Technology's equity for 420 billion yuan.

Once this figure was disclosed, outsiders were full of questions, wondering if DeepBlue Technology had made a mistake in the announcement.

It's worth noting that, as of the trading day before the announcement, DeepBlue Technology's closing price was 192.60 yuan, corresponding to a total market capitalization of 12189.65 billion yuan.

Based on this market capitalization, the market value of 21% of the equity is 2559.82 billion yuan.

The seven investment institutions actually sold the shares for 420 billion yuan, which is only about 16.4% of the market price.

In other words, the seven investors essentially sold off DeepBlue Technology's shares at less than 1.65% of their original price.

As soon as the news was released, major financial media outlets rushed to report it.

DeepBlue Technology repurchases 21% of its shares for 420 billion yuan; seven venture capital firms exit at significant losses.

1. Sina Finance

[DeepBlue Technology's equity structure shakes up dramatically: Seven institutions sell off 42 billion yuan at a loss, is a market value of 100 billion yuan about to evaporate?]

网》

DeepBlue Technology's share buyback sparks heated discussion in the market.

Securities Times

The investment community was immediately in an uproar. A user who was verified as a CFA charterholder posted a long post titled "I don't understand it, but I am deeply shocked".

The post concludes that all the known information is insufficient to explain why the transaction was completed at that price. This only indicates that there are more important variables at play.

Retail investors are also discussing this matter on stock forums.

[Selling equity worth 2559 billion for only 420 billion? Have these investment institutions gone mad?]

Could it be that these institutions are so short of cash that they have to sell off their assets at a loss? I don't believe it. It's impossible for seven large institutions to be experiencing a cash crunch at the same time.

This is really weird.

[Damn, I need to run tomorrow, it feels like a crash is coming.]

[Seven top investment institutions collectively withdrew and sold off their assets at rock-bottom prices. It's not that they're stupid; there are definitely pitfalls we retail investors are unaware of.]

Compared to the emotional reactions of retail investors, professional investment institutions are making various phone calls to verify information or trying to find some valuable news.

Seven institutions exited at a price nearly 2100 billion yuan lower than the market price, and this was done even though the company's fundamentals had not deteriorated and were even continuing to strengthen.

Clearly, this does not conform to any known investment logic.

There is only one possibility that could lead seven top-tier private equity firms, which have long been deeply involved in the capital market, to make such a seemingly loss-making decision at the same time.

A force more powerful than them has intervened.

As for who this force is, that's exactly what various organizations are currently trying to find out.

Despite numerous speculations and extensive searches by various media outlets and professional organizations, no truly valuable intelligence has been found.

DeepBlue Technology's announcement did not disclose any information about state-owned enterprises investing in the company.

All seven investors remained silent after withdrawing from the investment.

This caused market sentiment to shift from initial shock to caution and unease, which was reflected in the stock price movement of DeepBlue Technology.

Monday, October 8.

DeepBlue Technology shares were hit with a massive sell-off immediately upon opening.

Over the previous weekend, investors were bombarded with various arguments that "institutional investors running away is a major negative factor," and many people placed sell orders overnight.

On the opening day, DeepBlue Technology's stock price opened lower and continued to decline. Although there were occasional buying attempts to support the price, overall selling pressure always prevailed.

At the close of trading, DeepBlue Technology's stock price fell by 8.03% compared to the previous trading day.

On Tuesday, August 26, selling pressure remained heavy, and the stock price plummeted by 7.81% that day. On Wednesday, the stock price continued its downward trend, hitting a low of 153.23 yuan during the day, and finally closed at 155.05 yuan, corresponding to a market value of 9813.11 billion yuan, falling below the trillion-yuan market value mark.

Just as the market was panicking and plummeting, several investors who had just exited Jin Sheng Capital were taking advantage of the situation to quietly buy shares in the secondary market using various shell companies. They spent 20 billion yuan to buy approximately 1300 million shares during the sharp drop in stock prices.

This cost price is 16 times higher than when we first got on board. Back then, we only spent 17 billion yuan to acquire more than 1.9 million shares, accounting for 3% of the share capital. Now, even spending 20 billion yuan can only buy 1300 million shares, accounting for only about 0.2% of the total share capital.

Even so, Jinsheng Capital still chose to buy at the bottom, knowing that there was a super catalyst of state-owned enterprise investment to follow.

At the current price, those who know the bottom line will still make a profit.

After a panic sell-off, DeepBlue Technology's stock price immediately rebounded strongly, achieving six consecutive days of gains and recovering all of the previous sharp decline. This was clearly due to the buying by several major institutional investors.

However, even though these institutions combined invested over 160 billion yuan, they only bought less than 1 million shares.

The company has a total of 63.29 billion shares, accounting for only 1.5%.

Several institutions quietly bought shares at the bottom, which is a turnover of shares in the secondary market. This is a secondary market activity, and no matter who the buyers are, it will not affect the company's normal operations or the pace of subsequent strategic investment by the national team.

Lin Chuan didn't pay attention to these things. After finishing the exit agreement with the seven major investors, he shifted his focus to the company's various technology sectors.

Entering September, DeepBlue Technology's multiple business lines are progressing in tandem, with each direction steadily advancing according to the established plan.

Regarding quantum energy storage projects, Luo Xiangdong and Lu Jing's team continue to advance based on the eight-minute energy storage time.

Lin Chuan issued a new round of budget supplementation plan, which is expected to enable energy storage time to break through the theoretical value of 30 minutes by the end of this year.

Regarding the plasticizer business, the first batch of deliveries for the mega-contract signed with a consortium of European and American environmental protection companies were delivered in early September.

The bacterial strains of the plasminogen lysate and the accompanying specially formulated nutrient solution were packaged in multiple constant-temperature cold chain containers and shipped from the biological agent production base at DeepBlue Technology's new headquarters to the ports of Felixstowe in the UK, Hamburg in Germany, and Rotterdam in the Netherlands.

This first batch of deliveries marks the official entry of plasminogen lysate technology into the commercial operation stage in the European and American markets.

According to the delivery schedule stipulated in the contract, there will be two more centralized deliveries this year.

The total deliveries in October and December will meet the demand for processing 40 million tons of waste plastics annually.

By mid-September, Lin Chuan had turned his attention to photovoltaic new energy.

Nearly a year and a half has passed since DeepBlue Technology's "Aurora" project, which utilizes single-linear fission solar energy technology, was launched in May 2013.

In the past year and a half, DeepBlue Technology has completed its patent layout across the industry chain, signed strategic cooperation agreements with upstream and downstream companies, and promoted the convergence of the industry.

The first large-scale photovoltaic power station built using single-state fission solar energy technology has now been completed and put into operation.

If Lin Chuan hadn't pulled everyone together to work on it, the first power station wouldn't have been completed so quickly.

The power station is located in Tala Beach, Qinghai, a plateau desert at an altitude of 3150 meters, nearly two hours' drive from the nearest county town.

On September 17, Lin Chuan arrived at Tara Beach to personally see how the first photovoltaic power station using new technology was operating.

He was accompanied by a technical vice director from DeepBlue Technology's photovoltaic business unit, and Shen Yuxin also came with him.

At this moment, the SUV had been driving on the empty highway for nearly two hours.

The scenery outside the window gradually transitions from town buildings and roadside trees to grasslands, and then from grasslands to the boundless Gobi Desert.

"We're almost there, Mr. Lin," Deputy Director He pointed ahead.

Lin Chuan followed his finger and looked over. As the off-road vehicle continued to approach, what came into view was a boundless blue ocean in the desert.

Tens of thousands of photovoltaic panels are neatly arranged on the desert, reflecting a dazzling blue light under the scorching sun of the plateau.

The array of planks, against the backdrop of blue sky and white clouds, creates a magnificent scene that is almost surreal, where man-made and natural elements intertwine.

The SUV stopped in front of the fence surrounding the power station. The person in charge of the power station was already waiting at the gate. He was the operation and maintenance station manager of this photovoltaic power station. His surname was Ma. He was wearing a work jacket with the power station's logo printed on the sleeve.

Seeing Lin Chuan get out of the car, he quickly walked up to him and said warmly, "Mr. Lin, welcome, welcome! I really didn't expect you to come in person."

Lin Chuan smiled and said, "Just wanted to take a look."

Station Master Ma led Lin Chuan and his group inside, introducing the basic situation of the power station along the way.

The power station has a planned installed capacity of tens of millions of kilowatts and has been completed and connected to the grid for half a year.

It utilizes DeepBlue Technology's singlet fission solar energy technology, and the photoelectric conversion efficiency has remained stable at 42% in actual operation.

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Although this figure is far lower than the 82.7% in the laboratory, it still stands out globally.

"President Lin, the difference between our power station and the one next door is particularly obvious. Although they are of the same size, our power generation per unit area is more than twice as high."

As Ma Zhan spoke, he pointed into the distance, and Lin Chuan looked in that direction.

Over there, you can vaguely see another photovoltaic array. The photovoltaic power station next door started construction in 2012 and uses traditional polycrystalline silicon solar panels.

The average annual sunshine duration at Tara Beach is about 2100 hours, and the newly built power station will generate approximately 455 billion kilowatt-hours of electricity per year.

The traditional photovoltaic power station next door generates approximately 210 billion kilowatt-hours of electricity annually.

"These photos were taken during the inspection. Take a look at them." Station Chief Ma took out his phone as he walked and showed Lin Chuan several photos. "The sunlight resources here are abundant, but the sandstorm problem is quite serious."

When the wind blows, sand will accumulate on the photovoltaic panels.

If not cleaned, it will reduce power generation efficiency by about 30%, and may even cause the photovoltaic panels to burn out due to hot spot effects.

Tala Beach is located in a high-altitude, cold desert area with high altitude, strong radiation, and little rainfall. In addition, overgrazing in previous years has reduced the surface vegetation coverage to 2%.

In places where even grass cannot grow, vegetables cannot be grown, and livestock cannot be grazed; it has almost become a no-man's land.

Station Master Ma said, "In order to minimize the impact on the original surface, we did not pour concrete over a large area during the foundation construction. Instead, we adopted a scheme of helical piles and steel supports to preserve the original sandy soil layer on the surface."

He crouched down and used his hands to clear away the sand beneath a photovoltaic panel, revealing the helical pile base underneath.

"In order to prevent wind and sand from hitting the surface of the panels directly, the design specifically raised each photovoltaic panel to more than 1.5 meters above the ground."

These indicators are basically the same as those of the photovoltaic power station next door, because both photovoltaic power stations are owned by the same company, except that the newly built one uses more advanced technology.

The Tala Beach area is not actually short of water, but it can't retain water. Moreover, the Longyangxia Reservoir is nearby, so water can be pumped from there.

To ensure the cleanliness of the photovoltaic panel surface, the power station has to rinse the panels with water every once in a while.

The cost is not high. The biggest cost of pumping water is the electricity consumption, but this is a photovoltaic power station, so there is no shortage of electricity.

Lin Chuan looked around and saw clumps of green grass growing on the sandy ground beneath many boards, some of which had even grown to knee height.

Station Master Ma explained to him, "The water flows down from the solar panels onto the ground, and combined with the shading effect of the solar panels themselves, the ground temperature is much lower than the surrounding area. With these two conditions combined—shading and water—the grass grows like crazy. After clearing the sand, we have to mow the grass—"

The current situation is that the density of grass inside the power plant park is far greater than that outside.

Lin Chuan couldn't help but chuckle after hearing this.

He immediately thought of the "photovoltaic-pastoral complementary" ecological model. The photovoltaic power station in the previous Tala Beach finally solved the weeding problem in 2015 by introducing sheep farming, thus achieving an ecological closed loop.

However, the Tara Beach Power Station has not yet discovered this "unorthodox" solution and is still using the method of manually cutting grass.

Winter is alright because the grass grows slowly, but in summer, after you cut one crop, another crop grows back in just a few days, so you simply can't keep up with the cutting.

Lin Chuan said with a smile, "Why don't you try raising some sheep?"

Station Master Ma was taken aback: "Raising sheep?"

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