Shanghai Electric Power (600021.SH): Subsidiary intends to apply for registration and issuance of up to 3.9 billion yuan asset support special plan (similar to REITs)

Shanghai Electric Power (600021.SH) announced that its controlling subsidiary, State Power Investment Group Jiangsu Power Co., Ltd. (referred to as "Jiangsu Company"), plans to use the Dafeng H3#300MW offshore wind power project held and operated by its subsidiary Shanghai Electric Power Dafeng Offshore Wind Power Co., Ltd. (referred to as "SEDafeng") as the target asset to apply for registration and issuance of an asset support special plan (similar to REITs) on the Shanghai Stock Exchange, with a planned issuance size of up to 3.9 billion yuan. It is reported that through the issuance of REITs-like equity financing, the raised funds can be used to repay existing debts, and broaden the sources of investment funds for new projects, which will further expand the company's equity financing channels, revitalize existing assets, and reduce the asset-liability ratio.