CSSC Science & Technology (600072.SH) intends to list and transfer some of the equity and related debt of the wind power plants owned by its subsidiary company.

CSSC Science & Technology (600072.SH) issued an announcement that, in order to further enhance the company's operational quality, recoup initial investment funds, and use them for the development and investment construction of future wind farm products, its subsidiary CSC Wind Power's affiliated companies Beijing Technology Company and Zhangye Investment Company intend to publicly list and transfer their holdings of certain wind farm products' equity and related debts, according to the relevant provisions of the "Enterprise State-owned Assets Trading Supervision and Management Measures" (No. 32 of the State-owned Assets Supervision and Administration Commission, Ministry of Finance), namely the 100% equity and related debts of Dunhuang New Energy, Shengyuan Wind Power, and Zhangye New Energy. The initial listing price of the equity shall not be lower than the evaluation value, and the debt price shall be determined based on the debt confirmation date (before the formal listing). According to the evaluation report issued by the asset evaluation company, with the evaluation date set as May 31, 2024, the evaluation value of 100% equity of Dunhuang New Energy is 279 million yuan, Shengyuan Wind Power is 271 million yuan, and Zhangye New Energy is 368 million yuan. Among them, Dunhuang New Energy, Shengyuan Wind Power, and Zhangye New Energy are one of the performance commitment targets of a major asset restructuring completed by the company in 2023. In accordance with the Company's Articles of Association, Shanghai Stock Exchange Listing Rules, and other relevant laws, regulations, and guidelines, this proposal still needs to be submitted to the company's shareholders' meeting for approval. Due to the uncertainty of the transaction parties involved in the public listing, it is currently impossible to determine whether it involves related transactions. The transfer of equity in the company's wind farms is in line with the company's overall operational strategy, aiming to recoup initial investment funds by selling mature wind energy products, enhancing operational quality, and using them for the development and investment construction of future wind farm products. According to calculations, if the aforementioned wind farm products are successfully transferred, it is expected to have a positive impact on the company's profits in 2024, subject to the final transaction price and the audit by the accounting firm.