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Shunfa Hengneng Scraps Plan to Buy Stake in Puxing Deneng Natural Gas Power Generation
Shunfa Hengye Corporation (000631.SZ): Shunfa Energy City cancels the acquisition of 30% equity in Puxing Deneng.
On December 30, Ge Long Hui reported that Shunfa Hengye Corporation (000631.SZ) announced that its wholly-owned subsidiary, Shunfa Nengcheng Limited (referred to as "Shunfa Nengcheng"), intends to acquire 30% equity of Zhejiang Puxing Deneng Natural Gas Power Generation Co., Ltd. (referred to as "Puxing Deneng") from Zhejiang Puxing Lanne Natural Gas Power Generation Co., Ltd. (referred to as "Puxing Lantian") using its own funds. Since the above trade has not yet entered the actual implementation stage and the objective circumstances have changed, the Equity Transfer Agreement no longer has a basis for continued performance. Additionally, according to the provisions of Article 9.4(a) of the Equity Transfer Agreement, if this agreement cannot be completed in time.
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