On Tuesday, Nengchain Smart Electronics closed up 5.00% to $1.05.
The Zhitong Finance App learned that on Tuesday, the US stock, Energy Chain Intelligence (NAAS.US), closed up 5.00% to $1.05. According to the news, two funds under J.P. Morgan Asset Management recently made major investments in Energy Chain Smart Electronics. Meanwhile, Daniela Guerrero of Wall Street Hershey Fund (TimesWell LLC) gave an optimistic market analysis of Energy Chain Smart Electronics and continued to maintain “buy” suggestions.
According to reports, on March 13, Highbridge Tactical Credit Institutional Fund and Highbridge Tactical Credit Master Fund, a subsidiary of Morgan Asset Management, purchased 4761905 American Depositary Shares (ADS) of Energchain Smart Electronics, with an investment amount of 43 million yuan, and can conditionally subscribe for the same amount of ADS in the future, for a total amount of nearly 100 million yuan. This move not only shows Highbridge's firm confidence in the future prospects of energy chain smart electronics, but may also herald major positive news that the company is about to announce.
In response, Daniela Guerrero advised investors to take advantage of the current low share price, considering that EnergyChain Smart Electric may bring huge long-term benefits by continuing to take advantage of China's growing electric vehicle charging market.
According to the latest financial report, Nengchain Smart Electric's revenue for the full year of 2023 was 320 million yuan (US$45.8 million), up 245% year on year; it achieved gross profit of 88.76 million yuan (US$12.5 million), an increase of 13 times year over year, and gross margin increased sharply from 6.6% in 2022 to 27.7% in 2023.
Energy Chain Smart Electronics completed 214 million charging orders throughout the year, up 75% year on year; charging volume was 4.958 billion kilowatts, up 81% year on year; transaction volume was 4.7 billion yuan, up 74% year on year.