Tianbao Energy (01671) plans to further acquire 40% equity stake in Lingang Thermal Power.

TIANBAO ENERGY (01671) announced on May 26, 2026, that the company plans to acquire a 40% stake in Tianjin Tianbao Lingang Thermal Power Co., Ltd. from Tianjin Free Trade Zone Emerging Technology Industry Group Co., Ltd. for approximately RMB 106.5 million. After completion, the company will hold 85% of the target company's shares. The target company is an important cogeneration enterprise in the bonded area of Tianjin Port Holdings Lingang District. The acquisition will help the group integrate core business resources in cogeneration and regional heating, optimize the layout of the energy business, improve the industrial chain from energy production to end supply, thereby enhancing the stability, reliability, and economy of energy supply. Additionally, against the backdrop of the country's "dual carbon" policy and energy structure transformation, the company can lead the low-carbon transformation and technological upgrades of the target company through controlling it (including waste heat utilization, distributed energy, and energy storage related projects), to explore new business growth points for the group and enhance long-term competitiveness. The acquisition will also help the group and the target company achieve synergies in procurement, operations, and management, reduce overall operating costs, improve operational efficiency, thereby improving profitability and asset return levels. At the same time, the target company has a stable regional customer base and market demand, and the acquisition helps the group consolidate its position in the energy supply market in the Tianjin Port Holdings bonded area and surrounding areas.