Shunfa Hengye Corporation (000631.SZ) announced that the company held the ninth Board of Directors meeting on November 22, 2022...
According to the Zhito Finance APP, Shunfa Hengye Corporation (000631.SZ) announced that it held the 13th meeting of the 9th Board of Directors on November 22, 2022, where it reviewed and approved the proposal regarding the acquisition of 30% of the shares of the gas and electricity company by its wholly-owned subsidiary, agreeing that its wholly-owned subsidiary, Shunfa Nengcheng Co., Ltd., would use its own funds to acquire 30% of the shares of Zhejiang Puxing De Energy Natural Gas Power Co., Ltd. (referred to as "Puxing De Energy") from Zhejiang Puxing Blue Natural Gas Power Co., Ltd. Given that PUXING ENERGY Co., Ltd. (stock abbreviation: PUXING ENERGY, stock code: 00090) indirectly holds 100% of Puxing De Energy's shares. According to the securities listing rules of the Hong Kong Stock Exchange, PUXING ENERGY must comply with the regulations for declaration, announcement, and shareholder approval regarding the above-mentioned sale. PUXING ENERGY held a special general meeting of shareholders on January 10, 2023, but the above-mentioned sale did not receive approval from independent shareholders at the special general meeting.
According to the company's strategic development layout and arrangements, the company, PUXING ENERGY (Hong Kong) Co., Ltd. (referred to as "PUXING ENERGY"), and Puxing De Energy jointly signed the "Equity Transfer Agreement." The company intends to use its own funds of RMB 0.143 billion to acquire 51% of the shares of Puxing De Energy held by PUXING ENERGY. Upon completion of the trade, Puxing De Energy will become a majority-owned subsidiary of the company, included within the company's consolidated financial statements. Puxing De Energy holds 100% of the shares of Quzhou Puxing. After the completion of this acquisition, Quzhou Puxing will become an indirectly controlled subsidiary of the company and included within the company’s consolidated financial statements. This acquisition of mature power plant resources will help achieve resource integration, further optimize the business structure, expand the company's business layout in the field of clean energy, accelerate the company’s transformation speed, increase power generation revenue, enhance profitability, and continuously improve the company's core competitiveness.
