Today's announcement by Zhejiang Xineng (600032.SH) stated that its wholly-owned subsidiary Zhejiang Zhoushan Zhexineng Offshore Wind Power Co., Ltd. (referred to as "Zhexineng Zhoushan Offshore Wind") plans to introduce shareholder Zhejiang Energy International Co., Ltd. (referred to as "Zheneng International") through capital increase and equity expansion, increasing the original registered capital from 10 million RMB to 0.3 billion RMB, with the company's new subscribed capital of 0.155 billion RMB and cumulative subscribed capital of 0.165 billion RMB; the company will waive some of its priority subscription rights, with Zheneng International's new subscribed capital of 0.135 billion RMB. After this capital increase, Zheneng International will hold 45% equity of Zhexineng Zhoushan Offshore Wind, while the company will hold 55% equity.

The announcement stated that this related trade will help the company accelerate the preliminary and construction work of the project, aligning with the company's development global strategy and the interests of all shareholders.