Summary by Moomoo AI
Shanghao Xin Energy Group Limited issued a supplemental notice on 4 January 2024 providing additional information on all equity and liability settlement agreements in the announcement of 20 December 2023 relating to the takeover bid. The supplementary announcement clarifies the price criteria, stating that the target project will start operation and grid power generation from 10 July 2023 with an approved installation capacity of 100 MW and an average acquisition cost per watt of RMB7.3. Benchmark's consolidated net assets increased from $0 million in 2021 to $102.1 million in 2022, and total consolidated assets increased from $0 million to $613.4 million. The Board of Directors said that while Benchmark's current net asset value is lower and in a loss-making state, it is expected to generate a stable source of revenue as the target project has begun operations.