DATANG POWER (00991) plans to issue up to 2.667 billion new A shares, with a total fundraising amount not exceeding 8 billion yuan.

DATANG POWER (00991) announced that on July 9, 2026, the Board of Directors decided to convene an extraordinary general meeting of shareholders to approve the issuance of up to 2.667 billion new class A shares (including this number) to not more than 35 specific investors (including Datang Group) at the A-share subscription price, raising a total of no more than RMB 8 billion. Datang Group, the controlling shareholder of the company, has agreed to subscribe to the A-shares issued to specific investors in cash, with a subscription ratio of 20% of the total number of shares issued in the proposed A-share issuance, and a subscription amount not exceeding RMB 1.6 billion (including this number). The remaining shares will be subscribed to by other investors in cash. The company is committed to achieving its "dual-carbon" goals, with a focus on green and low-carbon transformation as the development direction, orderly advancing the transformation and upgrade of existing coal-fired power plants, and key coal-fired power projects. The funds raised from this issuance will be used for the ultra-supercritical coal-fired power plant projects, which is a strong strategic move for the company. The ultra-supercritical coal-fired power projects adopt environmentally friendly power generation technology with high parameters, efficiency, and low emissions, fully leveraging the role of coal-fired power as a base load guarantee and flexibility regulator. The implementation of this investment project will help the company seize the strategic opportunity of energy transition, enhance its core competitiveness, and promote green transformation and improvement. As of the end of 2023, 2024, and 2025, the company's asset-liability ratios were 70.90%, 71.02%, and 70.15%, respectively. The relatively high asset-liability ratio to some extent limits the company's continuous financing capability and is not conducive to its sustainable operation and green transformation. By using the funds raised from this issuance, the company's financial strength will be enhanced, the asset-liability ratio will decrease, the capital structure will be further optimized, and the company's financial condition will be improved, enhancing its ability to resist risks. As a large-scale power generation listed platform, the company's business development is at a critical stage of expansion and structural optimization. In 2025, the company's net profit attributable to owners of the company increased by 63.91% year-on-year, and the proportion of clean energy installed capacity reached 42.99%. The operating performance and transformation achievements are synchronized and positive, laying a solid foundation for sustainable development. This issuance will further broaden the company's financing channels through the capital market platform, provide long-term financial support for key project construction, enhance the company's competitive edge in the power market, improve its profitability, and enhance its value creation capability and shareholder returns, achieving win-win development with investors.