China Longyuan Group Limited held the ninth meeting of the fifth board of directors on October 22, 2024, and approved the acquisition of the equity interests of 8 new energy companies held by the wholly-owned subsidiary of the controlling shareholder National Energy Investment Group Limited in cash, with a total consideration of RMB 1685.7088 million. This acquisition will help reduce competition among the company and the controlling shareholder, expand market share, and enhance profitability. At the same time, National Energy Group has proposed to extend the commitment period to avoid competition until January 24, 2028, and within 3 years after the expiration of this period, it will inject qualified operating wind power business assets into China Longyuan Power. In addition, National Energy Group has issued a...Show More

China Longyuan Group Limited held the ninth meeting of the fifth board of directors on October 22, 2024, and approved the acquisition of the equity interests of 8 new energy companies held by the wholly-owned subsidiary of the controlling shareholder National Energy Investment Group Limited in cash, with a total consideration of RMB 1685.7088 million. This acquisition will help reduce competition among the company and the controlling shareholder, expand market share, and enhance profitability. At the same time, National Energy Group has proposed to extend the commitment period to avoid competition until January 24, 2028, and within 3 years after the expiration of this period, it will inject qualified operating wind power business assets into China Longyuan Power. In addition, National Energy Group has issued a supplementary commitment letter that will take effect upon meeting certain conditions, to support the business development of China Longyuan Power. The relevant matters of this transaction and commitment letter have been approved by the company's board of directors, special meetings of independent directors, and the supervisory board, and will be submitted for review by the shareholders' meeting.