[Caihua News] Boer Electric Power (01685-HK) announced that on October 21, 2019, Zhenzhong Juruida Industrial, a subsidiary of the company which has 60% indirect interest, plans to sell all of the issued shares of Anda Zhongju New Energy Technology at a cost of RMB 25.7.09 million (about HK$285.66 million).
Anda Zhongju New Energy Technology is a project company mainly engaged in the construction and operation of 10MWp photovoltaic power plants in Anda County, Heilongjiang Province, China.
According to a preliminary assessment of unaudited financial information as of August 31, 2019, it is estimated that the group will record revenue of approximately RMB 2,456 million (equivalent to approximately HK$2,729 million) as a result of equity transfers.