CONCORD NE(00182): Intends to sell 100% equity of Xiehe County in Yilan County for 506 million yuan.

CONCORD NE (00182) announced that on January 15, 2025, the company's several wholly-owned subsidiaries (namely Xinyuan Juneng, Yilan County Xiehe, and Xiehe Wind Power) entered into a sales agreement with Shadian, to sell 100% equity of Yilan County Xiehe for a total consideration of approximately RMB 506 million. Yilan County Xiehe is mainly engaged in the operation of a 200-megawatt wind power plant project located in Yilan County, Harbin City, Heilongjiang Province, China. The Group has adopted a strategy of "build-sell", under which the Group constructs power plants and sells its interests in the power plants upon completion or operation. The Directors believe that the "build-sell" strategy will help the Group fully utilize its advantages in wind power and CECEP Solar Energy power generation development and power plant construction, to achieve more attractive investment returns, enhance the Group's cash flow returns, reduce debt ratios, and support the steady and rapid development of the Group.