Ginyinhe Plans to Raise Up to 1.5 Billion Yuan for Battery Equipment Projects
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On September 27, Chinese company Jinyinhe announced a board-approved plan to issue shares to raise up to 1.5 billion yuan. The funds will be allocated as follows: 490 million yuan for a project on sodium-ion, lithium, and new energy storage battery high-end intelligent equipment; 290 million yuan for dry electrode and solid-state battery projects; 270 million yuan for silicon-based and polymer materials; 100 million yuan for organic silicon; and 350 million yuan to supplement working capital. The company cited high debt levels, with a consolidated debt-to-asset ratio of 70.72% at the end of the latest reporting period, and growing working capital needs due to a 27.90% revenue increase in 2025 and a surge in orders. The battery equipment project is projected to have a post-tax internal rate of return of 15.49% and a payback period of 9.04 years. For the first half of 2026, Jinyinhe reported revenue of 953 million yuan, up 44.35% year-on-year, and a net profit of 14.996 million yuan, turning around from a loss.
Source report
On September 27, Jin Yinhe (金银河) announced that its board of directors had approved a plan to issue shares to specific investors in 2026, aiming to raise no more than RMB 1.5 billion.
Use of Proceeds
According to the proposal, the RMB 1.5 billion in funds will be allocated as follows:
- RMB 490 million – High-end intelligent equipment industrialization project for sodium-ion batteries, lithium batteries, and new energy storage batteries
- RMB 290 million – Dry electrode and solid-state battery project
- RMB 270 million – Silicon-based materials and polymer materials construction
- RMB 100 million – Organic silicon layout
- RMB 350 million – Supplementary working capital
Company Background
Jin Yinhe is primarily engaged in the manufacturing of high-end intelligent equipment, including intelligent equipment for new energy, organic silicon, and polymer applications. Leveraging its proprietary equipment R&D capabilities, the company also engages—through its subsidiaries—in the research, production, and sale of:
- Organic silicon materials
- Energy computing alkali metal materials
- Carbon-based and silicon-based synthetic materials
- Nanoscale spherical silica powder
- Organic silicon supercritical physical foaming products and equipment
- 4N rubidium metal
- 4N cesium metal
Strategic Rationale
Jin Yinhe stated that the sodium-ion battery and consumer lithium battery projects cover the main technology roadmaps and application scenarios for next-generation new energy batteries. This will help the company deepen its strategic layout, improve its product matrix, meet rapidly growing market demand, and further enhance its core competitiveness and industry position.
Financial Projections
According to the company's estimates, the project's full-investment internal rate of return (after tax) is 15.49%, with an after-tax payback period (including construction period) of 9.04 years.
Working Capital Needs
Jin Yinhe noted that the characteristics of its industry result in significant working capital requirements. In 2025, the company's revenue grew by 27.90% year-on-year, and its current order backlog has also increased substantially year-on-year, further expanding the need for working capital. The company stated that, constrained by industry characteristics, it cannot meet its growing working capital needs solely through internal cash flow from operations, and thus requires significant external financing.
Financial Indicators
The company's cash inflows from financing activities—specifically borrowings received—have risen year by year:
- RMB 1.329 billion
- RMB 1.852 billion
- RMB 1.871 billion
- RMB 1.309 billion (most recent period)
The company's asset-liability ratio (consolidated) at the end of each reporting period stood at:
- 62.68%
- 60.54%
- 63.14%
- 70.72%
These figures indicate a relatively high level of leverage.
Recent Performance
In the first half of 2026, Jin Yinhe reported:
- Total operating revenue: RMB 953 million, up 44.35% year-on-year
- Net profit attributable to shareholders: RMB 14.9961 million, turning profitable year-on-year
- Net profit after deducting non-recurring gains and losses: RMB 11.4134 million, also turning profitable year-on-year
- Net cash flow from operating activities: RMB 48.3924 million, compared to a negative RMB 38.4955 million in the same period last year
Source: ReadChuang Finance (Shenzhen Business Daily / ReadChuang)
Source
东方财富网-公司资讯Regional
Part of this Story
Jinyinhe Plans 1.5 Billion Yuan Private Placement to Expand Battery and Solid-State Equipment