CGN Power Co.,Ltd. (01816.HK) announced that the controlling shareholder China General Nuclear Group has extended the deadline for fulfilling the commitment to avoid competition in the same industry. The deadline for injecting the business assets owned in China into the company has been extended by one year, from within five years after the official start of construction of the nuclear power project (i.e. the first pouring of concrete for the nuclear island) to within six years. This decision is made considering the characteristics of the industry, as the two units may still be in the construction phase five years after the official start of construction, without achieving full commercial operation. Additionally, due to the licensing of production construction approved during the same period, being held by the project owner company, certain production and supporting facilities are shared by the two units within the project or the entire plant, making it impossible to separately inject into the listed company.
中廣核電力(01816.HK)母企延長避免同業競爭承諾履行期限一年
CGN Power (01816.HK) parent company extends the commitment to avoid competition among peers for one year.
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