Gelonghui November 12th | CSSC Science & Technology (600072.SH) announced that on November 12, 2024, the company held the seventh meeting of the tenth board of directors and approved the 'Proposal for Public Listing and Transfer of Partial Wind Farm Product Equity of the Company'. In order to further improve the quality of the company's operation, recapture the initial investment funds, and use them for the development and investment construction of subsequent wind farm products, the company's subsidiaries CSSC Wind Power's affiliated Beijing Technology Company and Zhangye Investment Company plan to publicly list and transfer a portion of the equity and related debt of certain wind farm products held, in accordance with the 'Administrative Measures for the Supervision and Administration of Enterprise State-Owned Assets Trading' (No. 32 of SASAC, Ministry of Finance), including the 100% equity and related debt of Dunhuang New Energy, the 100% equity and related debt of Shengyuan Wind Power, and the 100% equity and related debt of Zhangye New Energy.
The initial listing price of the equity shall not be lower than the evaluation value, and the debt price shall be finally determined on the debt confirmation date (before the formal listing). According to the relevant evaluation reports issued by the asset appraisal company, with the evaluation base date as May 31, 2024, the appraisal value of 100% equity in Dunhuang New Energy is 278.69 million yuan, Shengyuan Wind Power's 100% equity appraisal value is 271 million yuan, and Zhangye New Energy's 100% equity appraisal value is 367.51 million yuan. Among them, Dunhuang New Energy, Shengyuan Wind Power, and Zhangye New Energy are one of the performance commitment targets of the significant asset restructuring completed by the company in 2023. In accordance with the 'Company Articles of Association,' 'Shanghai Stock Exchange Stock Listing Rules,' and other relevant laws, regulations, and normative guidelines, this proposal still needs to be submitted for approval by the company's shareholders' meeting. Due to the involvement of public listing, there is uncertainty regarding the trading parties, and it is currently impossible to determine whether it involves related party transactions.
