Dongfang Electric Corporation announced that its subsidiary Dongfang Electric Wind Power Co., Ltd. sold a 51% stake in Muzhu Dongxin New Energy Co., Ltd. to Sichuan Chuantou New Energy Co., Ltd. for 0.929 billion yuan. This Trade is based on an appraisal value of 1.821 billion yuan as of September 30, 2024, and is expected to increase the company's total profit and cash flow for 2024. After the Trade is completed, Muzhu Dongxin will no longer be included in the consolidated financial statements of Dongfang Electric Corporation.The counterparty, Sichuan Chuantou New Energy Co., Ltd., is a wholly-owned subsidiary of Sichuan Provincial Investment Group Co., Ltd., with a registered capital of 1 billion yuan. As of September 30, 2024, Chuantou New Energy has total Assets of 0.954 billion...Show More

Dongfang Electric Corporation announced that its subsidiary Dongfang Electric Wind Power Co., Ltd. sold a 51% stake in Muzhu Dongxin New Energy Co., Ltd. to Sichuan Chuantou New Energy Co., Ltd. for 0.929 billion yuan. This Trade is based on an appraisal value of 1.821 billion yuan as of September 30, 2024, and is expected to increase the company's total profit and cash flow for 2024. After the Trade is completed, Muzhu Dongxin will no longer be included in the consolidated financial statements of Dongfang Electric Corporation.The counterparty, Sichuan Chuantou New Energy Co., Ltd., is a wholly-owned subsidiary of Sichuan Provincial Investment Group Co., Ltd., with a registered capital of 1 billion yuan. As of September 30, 2024, Chuantou New Energy has total Assets of 0.954 billion yuan and net Assets of 0.657 billion yuan. Muzhu Dongxin was established in July 2022 with a registered capital of 0.88 billion yuan, mainly engaging in power generation, transmission, and supply Business. According to the audit report, as of September 30, 2024, Muzhu Dongxin has total Assets of 2.535 billion yuan and net Assets of 0.879 billion yuan.Dongfang Electric Corporation indicated that this sale aligns with the rolling development strategy of the company's New energy Fund projects, which is beneficial for enhancing the liquidity and efficiency of Assets and optimizing the Asset structure. The Trade will be executed through a one-time payment, and Chuantou New Energy will pay the full transfer price within three working days after the contract becomes effective. Both parties have agreed to corresponding breach of contract liability clauses to ensure the smooth progress of the Trade. This Trade does not constitute a related party transaction or a significant Asset restructuring, and does not require submission for Shareholder meeting review.