China Power (02380.HK) announced that it is in negotiations with spic yuanda environmental-protection under the State Power Investment Corporation regarding a proposed assets restructuring. The proposal involves China Power transferring its equity in the subsidiary companies engaged in its main hydropower business to spic yuanda environmental-protection, and subscribing to new shares issued by spic yuanda environmental-protection. The trade signed a restructuring framework agreement on October 18, 2024 and it is expected that after completion, China Power will become the direct controlling shareholder of spic yuanda environmental-protection, while the ultimate controlling shareholder of spic yuanda environmental-protection will still be the State Power Investment Corporation. Wuling Electric Power and Cheung Chau Hydropower are expected to continue as subsidiary companies...Show More

China Power (02380.HK) announced that it is in negotiations with spic yuanda environmental-protection under the State Power Investment Corporation regarding a proposed assets restructuring. The proposal involves China Power transferring its equity in the subsidiary companies engaged in its main hydropower business to spic yuanda environmental-protection, and subscribing to new shares issued by spic yuanda environmental-protection. The trade signed a restructuring framework agreement on October 18, 2024 and it is expected that after completion, China Power will become the direct controlling shareholder of spic yuanda environmental-protection, while the ultimate controlling shareholder of spic yuanda environmental-protection will still be the State Power Investment Corporation. Wuling Electric Power and Cheung Chau Hydropower are expected to continue as subsidiary companies of China Power. However, the scope or structure of the trade, the transaction price, and the number of spic yuanda environmental-protection shares that this group intends to acquire are still under negotiation and discussion, and have not been finalized. The implementation of the assets restructuring proposal is subject to the signing of a final equity transfer agreement, obtaining approval from relevant regulatory institutions, and meeting the applicable provisions under the listing rules before it can be finalized. Shareholders and potential investors are advised to act cautiously when trading the company's shares.