Source: Energy & Power comment

XJ Group Copration, Pinggao Electric, China XD and Shaanxi Baoguang Vacuum Electronic Apparatus subordinated by China XD successivly announced that China XD is planing and preparing the strategic reorganization with a subsidiary of State Grid Corporation of China  on 23th Dec..

Previously, State Grid has divested luneng group and Guozhong Health. It’sestimated that State Grid would withdraw the competitive business like XJ andPinggao,after the stripping of easte, health care and non-core business etc. Accordingto the performance report of the third quarter of 2020,XJ Electric’ operatingrevenue is at six billion five hundred and ninty-two million yuan,with netprofit at five hundred and twelve million yuan. Pinggao Electric’ operatingrevenue is at five billion six hundred and eight million yuan, with net profitat one hundred and sixteen million yuan. As competitive businesses, the profitability of the two companies is not satisfying.

XJ Electric

Thecore business of XJ Electric is UHV,smart power grid,new energy, electro-mobie batterycharging rail trffic, Industrial intelligence, integrated energy service,advanced energy storage, intelligent operation and maintenance and emergingbusiness like eletric internet of things. The company’s products are includingintelligent power distribution system, DC power transmission system, intelligentmedium-voltage power supply and comsumption equipment, smart electric meter,electromobie battery charging system and process and service of EMS.

Pinggao Electric

Pinggao mainly researches and produces the electric equipment like the powerdistribution network, HV, UHV and UHV switches, meanwhile take a all contractof the power projects across the world.

China XD Group

China XD Group has two listed companies, namely China Xdian (601179) and Baoguang (600379).

The main business of China Xidanincludes r&d is the design, manufacturing, sales, testing, complete sets ofrelated equipment, technical research, service and project contracting,etc. According to the performance report of the third quarter of 2020, The operating income of China Xd in the third quarter was 9.445 billion yuan, and the net profit was 210 million yuan.
The main business of Baoguang Stockis r&d is manufacturing and selling vacuum arcing chamber products,industrial layout of electronic devices, electrical accessories, electronic ceramics and international business. According to the performance report of the third quarter in 2020, Baoguang Shares had operating income of 612 million yuan and net profit of 31 million yuan.