On November 22, Guangzhou Yuexiu Capital Holdings Group (000987.SZ) announced that, in order to broaden financing channels, the company's holding subsidiary, Yuexiu New Energy Fund, plans to issue a new energy infrastructure asset-backed special plan (similar to REITs) on the Shenzhen Stock Exchange (the specific name is subject to Shenzhen Stock Exchange approval, hereinafter referred to as 'Asset Support Special Plan'), with an issue size not exceeding 0.72 billion yuan.
The target project company is its wholly-owned subsidiary, Zhejiang Taiyan New Energy Co., Ltd. (hereinafter referred to as 'Taiyan Company'). The raised funds will be used for acquiring the project company's equity and providing shareholder loans, supplementing Yuexiu New Energy Fund's operational funds and replacing Taiyan Company's outstanding interest-bearing debts. The financing period is expected not to exceed 24 years (with investor exit arrangements set every 3 years, allowing open exits, Yuexiu New Energy Fund or its designated entity have the priority purchase right).
