Longyuan Power (00916.HK) and State Energy Electrical Equipment will respectively transfer their joint venture Power Co-ownership of 30% to State Energy New Energy.

Wisdom Financial News APP News, Longyuan Power (00916.HK) announced that on November 14, 2025, the company, State Grid Electric, State Grid New Energy, and United Power signed a transfer agreement. The company and State Grid Electric agreed to transfer their respective 30% equity interests in United Power to State Grid New Energy (that is, State Grid New Energy collectively acquired 60% of the equity interests in United Power), at a price of 1 RMB each. After the completion of the transfer, the company will no longer hold any equity interests in United Power, and United Power will no longer be an associated company of the company.