On December 20, Gelonghui (000552.SZ) announced that in order to effectively integrate the company's internal resources, enhance the market competitiveness of the electricity generation business, and promote the optimal allocation of power resources, the company plans to invest 210 million yuan in cash to establish a wholly-owned subsidiary, Gansu Nenghua Electricity Sales Co., Ltd. (“Electricity Sales Company” for short, the name approved by the Provincial Market Supervision Administration). The company's current investment will fulfill its investment obligations in installments according to the actual operating needs of the electricity sales company. After the investment, the company holds 100% of the shares in the electricity sales company.
The company has set up a power sales company this time, which can effectively integrate the company's electricity generation and consumption resources, achieve the company's power resource sharing and complementary development, improve the efficiency of the power production and trading process, enhance the market competitiveness of the company's electricity generation business, and increase the revenue of the power generation business. At the same time, it can help the company's internal energy consumption enterprises carry out fine management of electric energy, reduce electricity consumption costs, and improve the company's overall economic benefits.