Summary by Futu AI
China Longyuan announced on October 22, 2024, that it has signed an equity transfer agreement with State Power Investment Asset Management, State Power Gansu Power, and State Power Guangxi Power, conditionally agreeing to acquire the equity of eight target companies for a total consideration of approximately RMB 1685.7088 million. This transaction is a related party transaction and has been approved by the board of directors. After the completion of the transaction, China Longyuan will further consolidate its leading position in the wind power market. In addition, the State Energy Group also issued a "Supplementary Commitment Letter (II)", committing to inject wind power generation business that may overlap with China Longyuan's main business into the company by January 24, 2028. China Longyuan will convene an extraordinary general meeting of shareholders to deliberate on the supplementary commitments. Independent financial advisor Jalin Capital will provide advice to independent shareholders on this matter.