Changyuan Electric Power (000966.SZ) issued an announcement. After internal research, in view of the Hubei Songzi Pumped Storage Power Plant project...
Zhitong Finance App News, Changyuan Electric Power (000966.SZ) issued an announcement. After internal research, due to the large investment amount of the Hubei Songzi Pumped Storage Power Plant Project (hereinafter referred to as the Songzi Project), the company plans to withdraw from the Songzi Project and transfer the entire project to Guoneng Hubei Songzi Water Storage Co., Ltd. (hereinafter referred to as Songzi Company), which is controlled by National Energy Group Hubei Energy Co., Ltd., in order to reduce the company's investment and financing pressure and financial burden and effectively control the balance ratio and financial risks. At present, the two sides have reached an agreement on the “Hubei Songzi Pumped Storage Power Plant Project Transfer Agreement” and hired Beijing China Enterprise China Asset Evaluation Co., Ltd. to carry out asset evaluation work. The estimated transaction price without tax for this transfer is no more than 0.345 billion yuan. The final transfer price is based on the assessed value determined by the evaluation report filed by the state-owned assets management unit issued by China Enterprise China.
According to the estimated evaluation results, this related transaction is expected to increase the company's cash flow by about 0.345 billion yuan in 2025 and increase disposal revenue by 10-20 million yuan in 2025, and will not have a significant impact on the company's financial situation in 2025. At the same time, this transfer helps the company focus on safeguarding the capital requirements for the development of strategic emerging industries such as new energy, optimizing the company's asset structure, improving profitability and resilience to risks, and conforms to the interests of the company and all shareholders.
