CGN Power 01816K announced that on January 8, 2025, the board of directors had reviewed and approved the resolution for the company as the transferee and CGN as the transferor to enter into an equity transfer agreement. Pursuant to the equity transfer agreement, CGN agreed to sell and the Company agreed to acquire 100% equity of Taishan Second Nuclear Power, with a total consideration of RMB 120,387.56 million.
Taishan Second Nuclear Power was established on January 13, 2011 sri lanka telegram data and was wholly owned by CGN on the date of the equity transfer agreement. Its main business is the investment and development of nuclear power plants. Taishan Second Nuclear Power was registered and established by CGN with an initial registered capital of RMB 200.00 million. As of the date of this announcement, Taishan Second Nuclear Power Plant has not yet started construction of nuclear power projects and did not generate any profits audited in 2022, 2023 and the period from January 1, 2024 to September 30, 2024.
Before the company's A-share listing, CNNC retained certain nuclear power-related businesses, including nuclear power-related businesses that are still in the relatively early stages or under planning. CNNC has made a commitment to further avoid competition in the same industry and will transfer the above-mentioned retained businesses to the company based on the development of the retained businesses.