Summary by Moomoo AI
On December 6, 2024, china power entered into a capital increase and share expansion agreement with Huainan Mining and Pingqiao Power. Huainan Mining will acquire an 11% stake in Pingqiao Power for 152,823,808.16 RMB, resulting in china power's ownership in Pingqiao Power dropping from 60% to 49%. Therefore, Pingqiao Power will no longer be a subsidiary of china power but will become an associated company. This trade constitutes a disclosure requirement and a connected transaction, in compliance with the listing rules Chapters 14 and 14A. According to the agreement, Huainan Mining must pay the cash contribution within 10 business days after the agreement takes effect; otherwise, it will incur a penalty of 0.05% per day on the unpaid amount. The capital increase amount is based on the asset evaluation...Show More