Summary by Moomoo AI
China Power (02380.HK) announced that it is negotiating with Yuanda Environmental-Protection, a subsidiary of State Power Investment Corporation, on a proposed asset restructuring. The proposal involves China Power transferring its controlling equity in its main hydropower business subsidiary to Yuanda Environmental-Protection, and subscribing to new shares issued by Yuanda Environmental-Protection. The trade signed a restructuring framework agreement on October 18, 2024. It is expected that after completion, China Power will become a direct controlling shareholder of Yuanda Environmental-Protection, while the ultimate controlling shareholder of Yuanda Environmental-Protection will still be State Power Investment Corporation. Wuling Power and Cheung Chau Hydropower are expected to continue as subsidiaries of China Power. However, the scope or structure of the trade, the...Show More