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Announcement Highlights | The December Electric Vehicles sales report has been released! BYD sold 0.515 million vehicles in a month, and "Weixiaoli" reached new highs together; 13.138 billion Hong Kong dollars! Alibaba fully divested from SUNART RETAIL, a
GCL NEWENERGY plans to sell its photovoltaic assets in Micron; XINYI SOLAR's annual profit may drop by more than 70%.
China Power International Cuts Stake in Pingwei Power to 49%
CHINA POWER (02380.HK): Completion of the deemed disposal matter, the company's equity stake in Pingwei Power Generation diluted to 49%.
On December 31, Gelonghui reported that CHINA POWER (02380.HK) announced the sale of an 11% stake in Pingwei Power to Huainan Mining ("Considered Sale"). After the transaction, the company's stake in Pingwei Power has been diluted from 60% to 49%. Pingwei Power will no longer be a subsidiary of the company and will become an associate company. Accordingly, the group will use the equity method to account for the financial performance and financial position of Pingwei Power in its consolidated financial statements.
SICHUAN EN INV recommends appointing Yao Gengsheng as a non-executive Director.
SICHUAN EN INV (01713) announced that due to changes in work arrangements, Ms. Han Chunhong has tendered her resignation as a non-executive director and a member of the audit committee. After receiving a recommendation from CHINA POWER INTERNATIONAL DEVELOPMENT CO., LTD. (which is a Shareholder), the Board of Directors has proposed the appointment of Mr. Yao Gengsheng as a non-executive director, but it must await approval from the Shareholders at the extraordinary general meeting before it can take effect.
Announcement highlights | CHINA POWER's electricity sales volume increased by nearly 30% year-on-year in the first 11 months; WUXI APPTEC plans to sell its WuXi ATU Business in the USA and United Kingdom.
WUXI APPTEC plans to sell its WuXi ATU Business in the USA and United Kingdom; GF SEC's proprietary business can participate in carbon emission trading at legal trading venues within the territory.
China Galaxy Securities: Spot market pricing is based on supply and demand, and mergers and acquisitions of Electrical Utilities central enterprises are expected to accelerate.
China Galaxy Securities believes that, from the perspective of underlying pricing logic, spot electricity prices are mainly influenced by fuel costs and the supply and demand of Electrical Utilities. Against the backdrop of a downward shift in coal price fundamentals, it is expected that thermal power companies in provinces with a high proportion of market coal and strong layout demand will have supported profits in 2025.
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