China Longyuan Power plans to publicly list on the BSE at a price of no less than RMB 1,319.1507 million for the sale of its and its subsidiary Xiong Ya company's total holdings of 27% equity in Jiangyin Sulong. After the potential sale is completed, China Longyuan Power and its subsidiary will no longer hold any equity in Jiangyin Sulong, and Jiangyin Sulong's financial performance will no longer be included in China Longyuan Power's financial statements. The potential sale is expected to constitute a disclosed trade that is exempt from shareholder approval requirements. The intended transferee of the potential sale includes Jiangyin Electric Power, an existing shareholder of Jiangyin Sulong. The board of directors has approved the trade, and...Show More

China Longyuan Power plans to publicly list on the BSE at a price of no less than RMB 1,319.1507 million for the sale of its and its subsidiary Xiong Ya company's total holdings of 27% equity in Jiangyin Sulong. After the potential sale is completed, China Longyuan Power and its subsidiary will no longer hold any equity in Jiangyin Sulong, and Jiangyin Sulong's financial performance will no longer be included in China Longyuan Power's financial statements. The potential sale is expected to constitute a disclosed trade that is exempt from shareholder approval requirements. The intended transferee of the potential sale includes Jiangyin Electric Power, an existing shareholder of Jiangyin Sulong. The board of directors has approved the trade, and the independent non-executive director has confirmed the fairness and reasonableness of the transaction terms. China Longyuan Power stated that the move is aimed at fulfilling its controlling shareholder State Energy Investment Group Co., Ltd.'s commitment, resolving the overlap of thermal power business with State Energy Group, optimizing asset structure, and focusing on the main business of new energy generation. The company will make further announcements on the progress of the potential sale.