Gelonghui, January 23, 丨 Shuifa Energy (00750.HK) announced that the company sold 100% of the shares of the target company Tongyu Qiangfeng Electric Power Co., Ltd. through a listing sale. On January 23, 2024, the Shandong Property Exchange Center notified Tongyu Gaodeng (a non-wholly-owned indirect subsidiary of the company) that CNNC was confirmed as the winning bidder.
On January 23, 2024, Tongyu Gordon signed a property rights transaction contract with CNNC Huineng. According to this, Tongyu Gordon agreed to sell, while CNNC Huineng agreed to buy the shares to be sold at a cost of RMB 85.55 million.
The target company is a limited liability company established in China, mainly engaged in wind power generation (projects subject to approval according to law, and business activities can only be carried out after approval by relevant departments).
Considering the Group's business direction and development strategy, the cost of operating and the prospects of the wind power business, the company believes that the sale will enable the Group to reallocate resources to other businesses with higher returns and development prospects and help streamline its business, thereby achieving better returns and value for the company and its shareholders as a whole.