(Original title: The game company took a fancy to new energy Kunlun Wanwei took the first step in new energy investment and the target company has just been established for two months)
With the development of the new energy industry, industrial capital is getting together. The well-known game maker Kunlun Wanwei (300418) announced that it intends to add new energy investment business to the original business segment. Among them, the first investment of 300 million yuan is directed to the field of energy storage. It is worth noting that the investment target company has only been established for two months.
Added new energy investment business
The announcement on the evening of December 4 showed that Kunlun Wanwei decided to add an investment business segment in the new energy field on the basis of the original investment business segment, forming a “1+1” business structure for the investment segment, that is, the technology equity private equity fund business in the primary market and the new investment segment. Parallel business structure for energy investment business. Jin Tian, chairman of the company, is personally responsible for the new energy investment sector.
Kunlun Wanwei is an Internet company, the most famous of which is the game industry. Its Opera is a well-known Internet brand in Europe. Its business is mainly in Europe, Africa and Southeast Asia. The social entertainment platform Star X business is mainly for Southeast Asia, the Middle East, Europe, South America and other markets. The mobile game platform Ark Games business is mainly in Europe, America, Southeast Asia, Mainly Hong Kong, Macao and Taiwan.
However, in the context of the global macroeconomic downturn, Kunlun Wanwei’s performance has declined in recent years. Data show that Kunlun Wanwei will achieve operating income of 4.85 billion yuan in 2021, a year-on-year decrease of 10%; net profit of 1.547 billion yuan, a year-on-year decrease of 69%. In the first three quarters of 2022, revenue was 3.398 billion yuan, a year-on-year decrease of 4.7%; net profit was 787 million yuan, a year-on-year decrease of 64%.
The announcement shows that the leadership team of Kunlun Wanwei has made a division of labor. The follow-up chairman Jin Tian will personally be in charge of the company’s new energy investment sector, from the formulation of investment business plans to the implementation of the implementation, focusing on excellent investment projects in the field of new energy to ensure the smooth realization of the company’s investment business The business plan of the “1+1” sector. General Manager Fang Han will continue to lead the company’s Internet business sector and lead the development of the Internet business to the stage of AIGC and Metaverse.
According to the commitment of the actual controller of Kunlun Wanwei regarding the new energy investment business segment, Zhou Yahui, the actual controller of the company, shall not participate in the primary market investment of any projects involved in the new energy segment without the consent of the company’s board of directors; the company and Zhou Yahui both agreed and confirmed, If the company’s board of directors agrees that Zhou Yahui can participate in new energy project investment, the company has the right to invest in priority.
Plan to launch 3 billion yuan industrial fund
Kunlun Wanwei said that since its establishment, the company has maintained sufficient cash flow from its main business. The company has made full use of the advantages of abundant cash flow from its main business and successively invested in ByteDance, Didi, PonyAi, Chaimi, Qudian, Grindr, DADA A series of outstanding companies in the Internet field have brought huge returns on investment to the company and significantly increased the company’s performance.
Investment is no stranger to Kunlun Wanwei. On May 8, 2020, Beijing Kunlun Internet Intelligent Industry Investment Fund Partnership (Limited Partnership) was initiated and established by Kunlun Wanwei and its wholly-owned subsidiaries as general partners and fund managers (Limited Partnership) ( The first phase) (hereinafter referred to as “Kunlun Industrial Fund”), raised funds of 3 billion yuan, with an investment period of 7 years, focusing on hard technology, medical health, new energy, corporate services and other tracks. It is worth noting that among the above-mentioned investment projects, companies such as Hengshuo, Xidiwei, and Yuanbio have been successfully listed this year.
Facing the new situation and combining its own advantages, Kunlun Wanwei’s overall plan at the business level is: on the one hand, to promote the internationalization of the existing AIGC and Metaverse business, the company has internally drawn up the development roadmap for AIGC and Metaverse, and plans to Within 5 to 10 years, upgrade the business to the era of AIGC and metaverse, and use AIGC to change the traditional way of generating Internet content.
On the other hand, it is necessary to take advantage of global resources and channel advantages to seize the opportunity of internationalization in the new energy field, and through the new energy investment business, cooperate with high-tech teams in the new energy field to bring out the new generation of new energy technologies in China. Go abroad, go global, realize complementary advantages in the field of energy going to sea, reserve new growth points for the company’s long-term development, demonstrate corporate social responsibility, and make valuable contributions to the entry of domestic leading new energy technologies into the international market.
Kunlun Wanwei said that in the past two years, the company’s investment business team has contacted and invested in many new energy projects from observation to investment practice, exploration and summary in the field of new energy industry, and has accumulated a lot of experience in the field of new energy investment. Focus on investment in the new energy field and make relevant reserves.
At the same time, Kunlun Wanwei also stated that at present, the second fundraising of Kunlun Industrial Fund is also planned, and it is expected to start at the end of 2023, with a target scale of 3 billion yuan. After the successful raising, it will continue to inject long-term funds into the company’s investment business sector .
300 million yuan invested in green vanadium new energy
While announcing that the company will add new energy investment business, Kunlun Wanwei also announced the first new energy investment of 300 million yuan.
According to the announcement, Ningbo Dianjin Equity Investment Co., Ltd., a wholly-owned subsidiary of Kunlun Wanwei, and Khorgos Kunnuo Tianqin Venture Capital Co., Ltd. invested 220 million yuan and 80 million yuan of their own funds respectively in Beijing Green Vanadium New Energy Technology Co., Ltd. increased capital (hereinafter referred to as “Green Vanadium New Energy”) and acquired 60% of the equity of Green Vanadium New Energy, which will be included in the scope of the company’s consolidation.
There are 3 members of the board of directors of Green Vanadium New Energy. Kunlun Wanwei will appoint Jin Tian as the chairman and legal representative of Green Vanadium New Energy. The company will appoint Fang Han as the director of Green Vanadium New Energy.
The announcement shows that Green Vanadium New Energy was established in October 2022 with a registered capital of 16 million yuan. The main business includes production and integration of electric stacks, key materials of batteries, energy storage systems and their components, design and integration of energy storage battery management systems and energy storage power station systems, etc. Several core members of the team are Ph.D. graduates from well-known universities such as Tsinghua University, and have pioneering top energy storage stack system technology.
Kunlun Wanwei stated that there is no related relationship between the shareholders of Green Vanadium New Energy and the company’s directors, supervisors, senior managers, and shareholders holding more than 5% of the shares, or other relationships that may or have caused the company to tilt its interests.
Regarding the significance of this investment, Kunlun Wanwei pointed out that this holding investment in green vanadium new energy, and the cooperation with the high-tech team in the field of new energy energy storage to achieve complementary advantages is the first step for the company to develop new energy investment business. The company’s continuous investment in the field of offshore energy has created a model, reserved new growth points for the company’s long-term development, and has far-reaching significance for the company’s long-term development.