Summary by Moomoo AI
China Power announced on 6 December 2024 that it had signed a Framework Cooperation Agreement II with Huainan Mining, which plans to further deepen the cooperative model of coal-fired power after the sale of the items considered for sale. Under the agreement, China Power will reduce its shareholding in Pingxu Electric and Pingkou Tri-Electric from 60% to 51%, and Hainan Mining will increase its shareholding from 40% to 49% through a direct equity transfer. The initiative aims to expand the strategic partnership between the two sides and take full advantage of the coal and coal-fired power and new energy industry models.Ping Ku Electric Power and Ping Ku Si Electric are currently joint ventures, mainly engaged in coal-fired power generation. Once the...Show More