Gelonghui September 6?* ST Kingsoft (600396.SH) announcementThe company has transferred its 100% stake in Tieling Company and 51% stake in Fuxin Thermal Power Company to Huadian Liaoning by agreement. In order to avoid and solve the inter-industry competition between the company and Huadian Liaoning, China Huadian Group Co., Ltd. as the company's controlling shareholder and actual controller issued a letter of commitment to avoid inter-industry competition. According to the relevant contents of the commitment letter, Huadian Liaoning signed the "Equity entrustment Management Agreement" with the company, entrusting the 100% equity of Tieling Company, 51% of Fuxin Thermal Power Company and 90.91% equity of Huanren Thermal Power Company to manage in accordance with the articles of association of the target company.
Huadian Liaoning pays the commission management fee to the company annually, of which Tieling Company 1 million yuan / year, Fuxin Thermal Power Company 250000 yuan / year, Huanren Thermal Power Company 50, 000 yuan / year. From the effective date of the agreement, the annual entrustment management fee shall be paid one year after the entrustment management expires; if the entrustment management time is less than one year on the date of termination of the agreement, the daily entrustment management fee shall be calculated on the basis of 365 days of the whole year, and the entrustment management fee shall be paid according to the actual management days.