Gelonghui, Feb. 2, 丨 Yuneng Holdings (001896.SZ) announced that the company recently received a written notice from the controlling shareholder Henan Investment Group Co., Ltd. (“Investment Group”) to inquire about the company's investment intentions for projects related to foreign investment by its subsidiary Henan Investment Smart Energy Co., Ltd. (“Provincial Investment Smart Energy”), with an investment amount of 422,582,14 million yuan.
Distributed photovoltaics, charging piles, and energy storage projects have individualized differences, and are affected by factors such as industry policies and industry competition. There is a possibility that future benefits of related projects will fall short of expectations. Based on the current status of related projects and the company's development strategy, the company decided not to participate in distributed photovoltaics, charging piles, and energy storage projects invested abroad by the Province Smart Energy for the time being.
According to the “Letter of Commitment to Avoid Competition in the Industry” issued by the Investment Group in October 2014, the Investment Group undertakes to transfer the new power generation project to Yuneng Holdings through equity transfer, asset injection, or other legal means within two years from the date the listed company is completed and put into operation, on the premise that the listed company is in line with the interests of the listed company and the listed company is capable.
In summary, the company has now decided not to participate in the distributed photovoltaics, charging stations and energy storage projects invested abroad by Provincial Investment Smart Energy. The company has managed 65% of the shares of Provincial Investment Smart Energy held by Provincial Investment Technology Investment, and there are no circumstances that harm the rights and interests of the company's shareholders, especially small and medium-sized investors.