China Electric Power (02380.HK) announced that its wholly-owned subsidiary Shintou II Power signed a property transfer agreement on May 21, 2024 with a wholly owned indirect subsidiary, Shentou Industrial, on May 21, 2024, to purchase two residential buildings in Shuozhou City, Shanxi, China, for use as staff dormitories. The transaction cost approximately RMB5,215 million, equivalent to approximately HK$5,731 million. This transaction is a connected transaction but is exempt from the approval of an independent shareholder as the applicable percentage is less than 5%. The Board considers that the terms of the transaction are fair and reasonable and in the overall interests of the company and shareholders, helping to retain high-quality employees and save rental costs.

China Electric Power (02380.HK) announced that its wholly-owned subsidiary Shintou II Power signed a property transfer agreement on May 21, 2024 with a wholly owned indirect subsidiary, Shentou Industrial, on May 21, 2024, to purchase two residential buildings in Shuozhou City, Shanxi, China, for use as staff dormitories. The transaction cost approximately RMB5,215 million, equivalent to approximately HK$5,731 million. This transaction is a connected transaction but is exempt from the approval of an independent shareholder as the applicable percentage is less than 5%. The Board considers that the terms of the transaction are fair and reasonable and in the overall interests of the company and shareholders, helping to retain high-quality employees and save rental costs.