On July 1st, Gelunhui reported that Longyuan Power (00916.HK) received notification from its controlling shareholder, State Energy Group, to implement the supplementary commitment in relation to avoiding competition with Longyuan Power Group Co., Ltd. To promote the reduction and resolution of industry competition, State Energy Group plans to inject some new energy assets into the company.

The equity of new energy companies under some provincial companies affiliated to State Energy Group that meet the injection conditions is expected to be about 4 million kilowatts of new energy installed capacity, and the preliminary plan is to inject them in batches. According to preliminary estimates, this transaction is not expected to constitute a major asset restructuring.