Gelonghui November 15 | CSIC (600072.SH) announced that its wholly-owned subsidiary, CSIC Wind Power Development Co., Ltd., plans to transfer 100% of the shares of Shouyang County Shengshou Wind Power Co., Ltd. (“Shengshou Company”) held by its wholly-owned subsidiary CSIC Clean Energy Technology (Beijing) Co., Ltd. (“Beijing Technology Company”) at an initial listing price of no less than RMB 21,24.9 million yuan.
This asset transfer will help CSIC Wind Power, a wholly-owned subsidiary, reduce the overall balance ratio, improve the quality of operations, return early investment capital, and meet the development needs of CSIC Wind Power's subsequent clean energy power plant development, investment and construction. This asset sale will have a positive impact on the current profit situation on the day the asset transaction is completed.