Summary by Moomoo AI
China Power Holdings Limited (“China Power Holdings”) announced the renewal and re-establishment of a number of power purchase and energy transmission agreements with Southern Grid Group, triggering an annual review of the listing rules. These agreements include the West Village Solar PV, Chundian and Sundu Wind projects and will be combined with other related continuing connected transactions during 2023. The annual total ceiling is expected to exceed 1% but less than 5% of the relevant listing rule percentage. The agreement, which entered into force or re-established after the announcement in 2023, mainly concerns energy transmission and part of the HVAC Group's existing projects in the Mainland of China. All transactions are computed in accordance with the Listing Rules and are based on the sale of power to Southern Grid Group or related sales agreements by CPC Group. The Board considers that the terms of all relevant transactions are fair and reasonable and in the overall interests of the Company and its shareholders.