China Longyuan Power Group Corporation (00916) intends to acquire a 49% equity interest in Guangdong Guoneng Longyuan from CHN Energy.

China Longyuan Power Group Corporation (00916) announced that the board of directors of the Company has approved the signing of an Equity Transfer Agreement between the Company and CHN Energy, which will be signed no later than November 30, 2026. The Company has conditionally agreed to acquire, and CHN Energy has conditionally agreed to sell, a 49% equity interest in the target company Guangdong Guoneng Longyuan, for a consideration of RMB186 million. Prior to the completion of this transaction, as of the date of this announcement, the target company is a subsidiary of the Company in which the Company holds a 51% interest and which is consolidated into the Company's financial statements. Upon completion of this transaction, the target company will become a wholly-owned subsidiary of the Company. This equity acquisition is an important measure to optimize asset allocation and enhance operational efficiency. Upon completion of the acquisition, Guangdong Guoneng Longyuan will become a wholly-owned subsidiary of the Company, which will allow it to fully leverage the advantages of the listed company's capital platform, make full and effective use of the listed company's funds, resolve issues such as insufficient capital and financing constraints, concentrate resources on accelerating the acquisition of new projects such as offshore wind power in Guangdong, enhance project acquisition and development capabilities, and achieve dual improvements in the scale and efficiency of new energy in Guangdong.