According to the Zhitong Finance App, Jintou Chengkai (600322.SH) announced plans to replace major assets, issue shares and pay cash to purchase assets and raise supporting capital and related transactions. The listed company plans to issue shares and pay cash to Tianjin Energy Group, Jineng Investment, and Tianjin Gas Group to purchase 100% of its shares in Jinneng, 100% of Tianjin Thermal Power's shares, 100% shares of Gangyi Heating, 98.18% of Jinneng Wind Power's shares, and 100% of Jinneng New Energy's shares and the balance of assets purchased. Listed companies intend to issue shares to no more than 35 specific investors to raise supporting capital.

As of the signing date of this plan, the audit and evaluation of this transaction has not been completed, and the valuation and pricing of the underlying assets have not yet been determined. According to preliminary judgments based on unaudited financial data of the listed company and underlying assets, the transaction is expected to constitute a major asset restructuring of the listed company.

According to reports, real estate development and sales are the core business and main business revenue source for listed companies. Listed companies face greater business operation and profit pressure, and have the need to place out their original real estate development business, release operational and financial risks, and at the same time inject high-quality assets and achieve business transformation and upgrading. The assets to be placed in this transaction are mainly engaged in heating and new energy power generation businesses.

Prior to this transaction, the listed company was a real estate development and management company. It mainly raised funds through debt financing and other methods to support the real estate development business. The debt scale was large, the balance ratio was high, and it faced greater debt repayment pressure. In order to better cope with market changes, improve the resilience of listed companies to risks, and achieve long-term stable development, listed companies have placed all assets and liabilities related to the real estate development business, and at the same time put in heating and new energy generation assets with stable profits and broad prospects for industry development to achieve business transformation and upgrading.

After this transaction, the main business of listed companies will be changed to businesses such as heating and new energy power generation, which is conducive to improving the operating conditions of listed companies, reducing the balance ratio, enhancing liquidity, and enhancing the resilience and sustainable development capabilities of listed companies.

Following the company's application to the Shanghai Stock Exchange, trading of the company's shares will resume with the opening of the market on January 2, 2025.