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On June 25th, Cailianshe News (Reporter Liu Yue) reported that Xizi Clean Energy (002534.SZ) participated in Hepu Energy to promote the layout of flexible peaking energy storage renovation of thermal power and jointly participated in the construction of the first thermal power unit's "extraction-steam energy storage" heat storage peak-shifting flexibility renovation demonstration project. On the product structure, product operating income of 4.01/12.88/0.06 billion yuan respectively in the RMB 100-300 billion category.

Xizi Clean Energy announced tonight that the company and its holding subsidiary plan to participate in the construction of Hebei Longshan 600MW subcritical thermal power unit's "extraction-steam energy storage" heat storage peaking flexibility renovation project, signed a contract with the subsidiary Hepu Energy, and provided Hepu Energy with heat storage system design and special technical consulting, molten salt energy storage equipment supply, and other services, with an estimated transaction amount not exceeding 50 million yuan.

The company also stated that Hepu Energy's solution to flexible peaking energy storage renovation of thermal power is one of the important development directions for the company's expanding energy storage business model. The company's participation in Hepu Energy aims to promote the layout of flexible peaking energy storage renovation of thermal power and form complementary advantages in the business area. In the early stage, the two sides conducted in-depth cooperation and R&D based on the "extraction-steam energy storage" technology. This project is the first thermal power unit's "extraction-steam energy storage" heat storage peak-shifting flexibility renovation demonstration project jointly constructed by both parties.

According to the research report released by Zhejiang Securities in May, according to the goal of completing the flexible renovation of 200 million kilowatts of existing coal-fired units in the 14th Five-Year Plan of the NDRC, the market size of flexible peaking energy storage renovation of thermal power is over 100 billion yuan calculated at 500 yuan/kW. Among various technical routes for flexible peaking energy storage renovation of thermal power, Xizi Clean Energy's molten salt heat storage technology, with many characteristics and advantages such as large capacity, long life, small footprint, high safety, low cost, and wide application, will occupy an important position.

Regarding other solar thermal molten salt energy storage projects, Xizi Clean Energy responded on the interactive platform that the company has successively won bids for the molten salt heat exchanger and system of the 100MW solar thermal power projects of China National Nuclear Corporation Yumen New Ao, China General Nuclear Power Corporation Da'an, State Power Investment Corporation Tōngyù, Baowu Tibet Zhabuye Salt Lake power supply, and CGN New Energy Tibet Ali zero-carbon solar thermal storage and power project.

At present, Xizi Clean Energy's main business includes four sectors: waste heat boilers, clean environmental energy equipment, solutions, spare parts and services. Among them, clean and environmentally friendly energy equipment includes garbage incineration boilers, molten salt absorbers, and nuclear power equipment.

The financial report shows that from 2020 to 2023, the revenue ratio of Xizi Clean Energy's clean and environmentally friendly energy equipment is decreasing year by year, which are 33.13%, 15.34%, 10.71% and 9.54%, respectively. However, Xizi Clean Energy stated during institutional research in this month that it had newly added orders worth a total of 1.344 billion yuan in the first quarter of 2024, including 376 million yuan of newly added orders for clean and environmentally friendly energy equipment, a 102% increase from the same period last year.

In fact, Xizi Clean Energy has been entering the field of solar thermal power generation since 2010, participating in the supply and construction of multiple solar thermal power generation demonstration projects, such as the national first batch of solar thermal power generation demonstration project-Qinghai Zhongkong Delingha 50MW project, etc. According to the Zhejiang Securities research report, the new power system of solar thermal power generation molten salt energy storage + photovoltaic and wind power complementation has entered a rapid development period. Except for the projects put into operation in 2023, all the projects of solar-thermal power generation that are under promotion have molten salt energy storage system, with an accumulated installed capacity of 2.85GW.