plans a major asset restructuring.
The pace of asset integration of central state-owned enterprises has been further accelerated. On September 30, the State Power Investment Corporation (hereinafter referred to as ""), the power investment and financing and Yuanda Environmental Protection successively disclosed the suspension announcement of planning a major asset restructuring.
Both companies said that the purpose of the restructuring is to implement the relevant spirit of the State Council on promoting the high-quality development of the capital market and improving the quality of listed companies. Yuanda Environmental Protection said that after the completion of the transaction, the company will be built into a domestic hydropower asset integration platform of the State Power Investment Group, and controlled by China Power, further consolidating China Power's position as a comprehensive clean energy flagship listing platform based on hydropower, wind power, solar power generation and high-quality thermal power. The power industry will inject some of the nuclear power assets of the State Power Investment Group into the State Power Investment Group through this major asset restructuring to help the company build a "first-class green energy industry and finance enterprise".
Yuanda Environmental Protection: It is planned to build the territory of the State Power Investment Group
Hydropower asset integration platform
Specifically, on the evening of September 30, Yuanda Environmental Protection announced that it received the company's controlling shareholder and actual controller, the State Power Investment Group's "Notice on Planning Major Asset Restructuring", and initially considered that Yuanda Environmental Protection intends to issue shares or issue shares and pay cash to purchase the controlling shares of Wuling Power Co., Ltd. and Guangxi Changzhou Hydropower Development Co., Ltd., a subsidiary of China Power Investment Group, and raise matching funds simultaneously. This transaction is expected to constitute a major asset restructuring and related party transaction, and does not constitute a restructuring and listing. The company's shares have been suspended since September 30 and will continue to be suspended from the market open on the morning of October 8, and the suspension is expected to last no more than 10 trading days.
Further, the counterparties of the transaction are preliminarily determined to include China Power, Guangxi Electric Power Co., Ltd. (hereinafter referred to as "Guangxi Company"), etc., and the subsequent company will further contact the relevant shareholders of the restructuring target to determine the final scope of counterparties.
According to public information, China Power was founded in 2004 and listed on the main board of the Hong Kong Stock Exchange in the same year, mainly engaged in hydropower, wind power, photovoltaic power generation and other businesses. Guangxi Company is a 100% shareholding company of China Power, and its business scope covers the development, investment, construction, operation and management of electric power (water, fire, gas, wind, solar energy, biomass power generation).
Yuanda Environmental Protection said that after the completion of this transaction, the company will be built as a domestic hydropower asset integration platform of, and will be controlled by China Power, further consolidating CPID's position as a comprehensive clean energy flagship listing platform based on hydropower, wind power, solar power generation and high-quality thermal power.
According to the official website of, has a total installed hydropower capacity of 23.99 million kilowatts, ranking among the top 10 in the world. The assets are mainly distributed in 14 provinces (autonomous regions and municipalities) such as Qinghai and Hunan, and undertake the development of basin bases in 2 of China's 13 major hydropower basin bases (the upper reaches of the Yellow River and Xiangxi), and at the same time develop hydropower business in overseas regions such as Australia, South America and Myanmar.
The power production and financing plan is to be placed in part of the nuclear power assets of the State Power Investment Group
According to the announcement of the power investment and financing, the company intends to purchase the controlling equity of State Power Investment Nuclear Energy Co., Ltd. (hereinafter referred to as "Power Investment Nuclear Energy") by issuing shares, and at the same time purchase the controlling equity of State Power Investment Group Capital Holding Co., Ltd., and will raise matching funds according to the specific situation. This transaction is expected to constitute a major asset restructuring and related party transaction, and does not constitute a change of actual controller, and the relevant plan is subject to further discussion and determination. The company's shares have been suspended since the market opened on September 30, and the company expects to disclose the trading plan within no more than 10 trading days.
Power Investment Nuclear Energy is the nuclear power investment and operation management platform of Group, with total assets of more than 100 billion yuan and a registered capital of about 22.85 billion yuan, which is 73.24% owned by State Nuclear Power Technology Co., Ltd. (hereinafter referred to as "State Nuclear Power") and 26.76% held by Chinese Life Insurance Co., Ltd.
According to public information, the investment in nuclear energy includes 100% equity of Laiyang Nuclear Energy Co., Ltd., 65% equity of Shandong Nuclear Power Co., Ltd., 45% equity of Liaoning Hongyanhe Nuclear Power Co., Ltd., 40% equity of CNNC Henan Nuclear Power Co., Ltd., and 14% equity of Sanmen Nuclear Power Co., Ltd. This means that after the deal is concluded,'s relevant nuclear power assets will be injected into the power industry and financing.
In addition, according to the announcement, the power investment and finance plans to purchase the controlling equity of the State Appliance Investment Group Capital Holding Co., Ltd. through this asset restructuring, which is 100% owned by the power investment and financing, and the business scope covers equity investment and asset management, asset trustee management, etc.
According to the action plan of "double improvement of quality and return" released by the company, during the "14th Five-Year Plan" period, the company will fully implement the spirit of the 20th National Congress of the Communist Party of China and the 3rd Plenary Session of the 20th Central Committee, strengthen the positioning of "green energy industry and finance enterprise", and adhere to the development concept of "energy-oriented, finance-oriented, collaborative and win-win".
accelerated the optimization of the stock asset structure
According to public information, is the first energy enterprise in mainland China with all types of power generation, such as photovoltaic power generation, wind power, nuclear power, hydropower, coal power, gas power, and biomass power generation, and was reorganized and established by China Power Investment Corporation and State Nuclear Power Technology Co., Ltd. in May 2015. As of the end of July this year, had assets of 1.83 trillion yuan and a total installed capacity of 244 million kilowatts, of which clean energy accounted for 70.13%.
According to the information on the official website, is one of the three major nuclear power investment operators in China, with a total installed nuclear power capacity of 8.09 million kilowatts, a third-generation passive nuclear power industry chain, R&D, design, engineering construction, key equipment manufacturing, operation and life cycle service capabilities, and undertakes the strategic task of introducing, digesting, absorbing and re-innovating the third-generation nuclear power.
At the beginning of this year, launched a special discussion on "improving the quality of stock, optimizing increments, building momentum for the future, and promoting the high-quality development of". Liu Mingsheng, Secretary of the Party Leadership Group and Chairman of the Group, emphasized that under the guidance of China's "3060" goal, the construction of a new power system with new energy as the main body will be accelerated, and the iteration of new energy technologies will be accelerated.
In addition, has said that one of the company's main work goals in 2024 is to focus on "improving the quality of stock" and solve the outstanding problem of "large and not strong". The company will continue to optimize the structure of existing assets by creating a "horse race" atmosphere, benchmarking and improving quality and efficiency, and by paying close attention to the disposal of "double loss", "two non" and "two capital".
Sources: Shanghai Securities News, China Financial News, etc