Zhongneng Electric: Plan to bid 100 million for a 65% stake in three companies or engage in a major restructuring.

The Zhongneng Electric announced that the company plans to participate in the auction of Shandong Dachi Electric, Shandong Dachi High Voltage Switch, and 65% equity and corresponding debt of Shuifachi Xiang Electric with a total of 100 million yuan. The transfer prices are 4.71 billion yuan, 1.91 billion yuan, and 1.95 billion yuan respectively. The transaction may constitute a major asset restructuring, does not involve the issuance of shares, does not constitute a related party transaction, and will not change the controlling rights. The transaction has been approved by the board of directors and will require approval at a shareholders' meeting. The target companies mainly engage in high-voltage transformers and switches, and are in the same industry as the company. From January to October 2025, Shandong Dachi Electric and Shandong Dachi High Voltage Switch posted net losses of 30.8315 million yuan and 14.1375 million yuan respectively. This acquisition presents uncertainties, and trading of the stocks will not be suspended.