On December 16, Geloonghui announced that SFSY ENERGY (00750.HK) entered into an investment agreement with CHINA CINDA and HING YIP HLDGS (the wholly-owned subsidiary of the company) on December 16, 2024. According to this agreement, the parties have agreed to execute a sale, restructuring, and capital injection. Through the sale (as further investment made by CHINA CINDA in the group), CHINA CINDA will indirectly acquire 40.05% (which translates to a 19.2% actual stake) in the 48% equity that the group will inject into the investment company. The restructuring will convert the holding company's 99.38% equity in Xinjiang HING YIP and 99.48% equity in Wuwei Dongrun, but does not involve any acquisition or sale by the group. The capital injection (specifically, HING YIP HLDGS and CHINA CINDA each committing to inject RMB 0.158 billion and RMB 63.34 million in cash to the investment company) has been agreed upon in the investment agreement.

SFSY Clean Energy is a limited liability company registered in Hong Kong, primarily engaged in the sale of Photovoltaic Equipment and Other Products. As of the date of this announcement, SFSY Clean Energy is 51% owned by the group, and 48% owned by SFSY Clean Energy Technology Co., Ltd. (a company controlled by the group’s controlling shareholder, SFSY Group Limited).

The ongoing sale is CHINA CINDA's investment in SFSY Clean Energy. The investment that the company intends to make in SFSY Clean Energy under the investment agreement will allow SFSY Clean Energy to benefit from a large number of attractive investment opportunities that CHINA CINDA will bring through the introduction of strategic investors. Additionally, the sale will strengthen the group's liquidity and supplement its working capital. Capital injection will increase the funding for the investment company (which is a non-wholly-owned subsidiary of the company), thereby further developing and expanding the group's Photovoltaic Power Generation Business and promoting the group's growth and development.