National Energy Group listed company, big move!

Polaris Electric Network learned thatNational Energy GroupListed companiesGuodian Electric Power、Longyuan PowerAn announcement was issued involving multiple asset transfers.

Guodian Power: Transfer of 50% of Guodian Construction Investment's equity to the State Energy Group has been completed

Guodian Power announced on July 1 that it had transferred the 50% equity of Guodian Construction Investment Inner Mongolia Energy Co., Ltd. (hereinafter referred to as "Guodian Construction Investment") held by the controlling shareholder, Western Energy Company, a wholly-owned subsidiary of the controlling shareholder State Energy Group, had completed the delivery on June 30, 2024.

Guopin Construction Investment invested in the construction of a coal-to-power integration project in Yijinhuoluo Banner, Ordos City, Inner Mongolia. The coal mine side of the project is Chahasu Coal Mine and the power generation side is Bulian Power Plant (2×660MW, all put into production in March 2013).

On April 15, Guodian Power announced that in order to reduce the continued impact of the uncertainty of the resumption of Chahasu Coal Mine on the company and improve the company's asset quality and profitability, it plans to transfer 50% of the equity of Guodian Construction Investment held by the company to its wholly-owned subsidiary of the controlling shareholder, State Energy Group Western Energy Investment Co., Ltd., a non-public agreement. The Chahasu Coal Mine, which is affiliated to the State Power Construction Investment, has temporarily suspended production in accordance with relevant requirements of the local government because it is applying for a mining license. As of now, the Chahasu Coal Mine mining license is still being processed.

National Energy Group plans to inject new energy assets into Longyuan Power

Longyuan Power announced on July 1 that recently, Longyuan Power Group Co., Ltd. received a notice from its controlling shareholder State Energy Group that in order to implement the agreement of the "Supplementary Commitment Letter of the State Energy Investment Group Co., Ltd. on Avoiding Competition with Longyuan Power Group Co., Ltd." and promote the reduction and resolution of competition among the industry, the State Energy Group plans to start the work of injecting some new energy assets into the company.

The equity of new energy companies that meet the injection conditions in some provincial companies under the State Energy Group is expected to have a new energy installed capacity of about 4 million kilowatts, and initially planned to inject them in batches. According to preliminary estimates, it is expected that this transaction will not constitute a major asset restructuring.

Longyuan Power: To transfer 27% of the equity of Jiangyin Sulong Thermal Power Co., Ltd.

Longyuan Power announced on June 27 that the company plans to transfer 27% of the equity of Jiangyin Sulong Thermal Power Co., Ltd. (referred to as "Jiangyin Sulong") held by the company and its wholly-owned subsidiary Xiongya (Viling) Co., Ltd. in a total of 1.319 billion yuan. Before this transaction, the company and its wholly-owned subsidiaries held a total of 27% of the equity of Jiangyin Sulong. After the completion of this transaction, the company and its wholly-owned subsidiaries will no longer hold shares in Jiangyin Sulong.

After the completion of this transaction, Jiangyin Sulong will no longer be included in the scope of the company's consolidated financial statements. The company's holding installed capacity will be reduced by 1240.764 MW, of which the installed capacity of thermal power will be reduced by 1215MW and the installed capacity of photovoltaic will be reduced by 25.764MW. According to the 2023 data calculations of the company and Jiangyin Sulong (no consideration of the impact of the merger offset), the company's total assets will decrease by 6.215 billion yuan, and the net assets will decrease by 3.376 billion yuan. According to the transfer price of 1319.15007 million yuan, the net profit will increase by 297 million yuan. The increase in net profit mainly comes from the investment income from the transfer of Jiangyin Sulong equity.