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Tunghsu Azure to buy majority stake of a robotics company, upgrading intelligent energy with artificial intelligence

Published:2017-06-29
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On June 21st, 2017, Tunghsu Azure Renewable Energy Co., Ltd.  (Tunghsu Azure,SZSE:000040)  announced that its wholly owned subsidiary, Tunghsu Renewable Energy Investment Co., Ltd., (Tunghsu Renewable Energy) proposed to acquire 51% stake in Shanghai ANX Technology Co., Ltd. (ANX)through the way of acquiring stake and increasing capital with total RMB1.8 million.Tunghsu Azure said that the marketing development and core competence in the intelligent energy sector would be improved through the acquisition.

An insider said that the Tunghsu Azure’s intelligent energy system would be upgraded by applying the artificial intelligence technology since the company acquired ANX, achieving a synergy with its program of “green energy + green environment +green city”.

Information shows that ANX is a high-tech enterprise in Shanghai city and the core technical team members are from top universities and institutions such as Shanghai Jiaotong University and the company specializes in designing, manufacturing products for intelligent operations and maintenance of PV power station and providing solutions.

ANX is the only company engaged in researching and developing the cleaning technology of solar power stations which are mounted in steel mills, chemical plants and auto parts factory, and the only company develops the intelligent operations and maintenance of solar power station systems based on the robot industry platform.

The insider also noted that the demand for intelligent operations and maintenance is growing because owners start to seek more efficient and economical solutions due to the gradually decreasing government subsidies to solar power station.

Tunghsu Azure is mainly engaged in the renewable energy industry, eco-environmental protection industry and industrial park development and real estate. Tunghsu Azure has been constructing a great amount of solar power stations across the country. A director from Tunghsu Azure told the reporter that the company’s intelligent energy systems would be improved with the advanced technology of ANX.

Tunghsu Azure’s strategy also conforms to the state's industrial policy of boosting the development of artificial intelligence industry. National Development and Reform Commission and Ministry of Industry and Information Technology of PRC released documents to create a favorable policy environment for the development of artificial intelligence industry.

Another insider said that the acquisition would be a new impetus for profit’s growth of Tunghsu Azure.