Summary by Moomoo AI
China Power International Development Limited ("China Power") announced on September 30, 2024, that it has received a proposed intention notice of asset restructuring from its ultimate controlling shareholder, State Power Investment Corporation Limited ("SPIC"). The proposal involves the transfer of the controlling rights of several sub-subsidiaries of China Power, including Wu Ling Power Limited and SPIC Yuanda Environmental-Protection Limited, to subscribe for new shares of SPIC Yuanda Environmental-Protection as consideration. Upon completion, China Power will become the direct controlling shareholder of SPIC Yuanda Environmental-Protection, further solidifying its position as the flagship listing platform of SPIC in comprehensive clean energy. Currently, the asset restructuring proposal is still in the preliminary planning stage, with the price or details yet to be confirmed, and implementation still subject to uncertainties. The implementation of the asset restructuring proposal will be subject to the final agreement, regulatory approvals, and compliance with listing rules. China Power will prioritize shareholder interests, actively consider and evaluate the asset restructuring proposal, and announce further details at the appropriate time.
