Summary by Moomoo AI
China Power International Development Co., Ltd. (“China Power”) announced a third renewal of the Framework Agreement with its ultimate holding shareholder, National Power Investment Group Limited (“National Electricity”), on 12 January 2024, for a period of three years until 31 December 2026. The agreement allows the National Electricity Subsidiary Service Provider to continue to provide integrated services to the PRC Power Subsidiary, including technical maintenance, maintenance and day-to-day operations support for the generator sets and related equipment. According to the listing rules, this transaction is a continuing connected transaction, as National Electric Power and its subsidiaries are connected persons of China Power. The proposed annual limit for the third renewal of the framework agreement is RMB3.5 billion and will comply with the announcement, declaration and annual audit requirements of Chapter 14A of the Listing Rules. China Power said the agreement helps save operating costs and ensures efficient and safe operation of power plants and offices.
