Xinte Energy (01799.HK) subsidiary Xinjiang New Energy plans to acquire the remaining 39.05% equity of Fengsheng Power Generation for RMB 500 million.

Zhitong Finance APP news, Xinte Energy (01799.HK) announced that pursuant to the capital increase agreement, ICBC Financial agreed to increase the capital of Fengsheng Power Generation by RMB 500 million, of which RMB 469,651,993 will be counted as registered capital of Fengsheng Power Generation, and the remaining RMB 30,348,007 will be counted as capital reserve. Upon completion of the capital increase, ICBC Financial will hold 39.05% equity interest in Fengsheng Power Generation, while Xinjiang New Energy will hold 60.95% equity interest in Fengsheng Power Generation, and Fengsheng Power Generation will remain a non-wholly-owned subsidiary of the Company.