CSSC Science & Technology (600072.SH) announced on November 27 that on November 27, 2024, the company held the eighth meeting of the tenth board of directors to review and approve the "Proposal on Public Listing and Transfer of Equity of Wind Power Field Products of the Company." In order to further improve the quality of the company's operations, recover the initial investment funds, and use them for the development and investment in subsequent wind farm products, the company's subsidiary, CSSC Wind Power, intends to publicly list and transfer 100% equity of Gao Tai New Energy, held by its subordinate Zhangye New Energy, in accordance with the relevant provisions of the "Regulations on the Supervision and Administration of State-Owned Assets Transactions by Enterprises" (No. 32 of SASAC and Ministry of Finance) on the Property Rights Exchange. According to the relevant valuation report issued by the asset assessment company as of May 31, 2024, the valuation of 100% equity of Gao Tai New Energy Company is 274.37 million yuan. Due to the public listing, there is uncertainty with the transaction party, and it is currently impossible to determine whether it involves related party transactions.
The transfer of equity of the company's wind power field in this instance is in accordance with the company's overall operational strategy, through the sale of mature wind power products, recovering initial investment funds, improving operational quality, and using them for the development and investment in subsequent wind farm products.
