Zhongmin Energy (600163.SH) plans to acquire a 51% stake in Fujian Yongtai Mintou Pumped Storage Energy Co., Ltd.
Zhongmin Energy (600163.SH) has announced that the company plans to acquire 51% equity of Fujian Yongtai Mintou Pumped Storage Energy Co., Ltd. (referred to as "Mintou Pumped Storage") held by its controlling shareholder Fujian Provincial Investment and Development Group Co., Ltd. in cash. The transaction price is based on the valuation result of the asset appraisal report, with a total consideration of 864 million yuan.
Zhongmin Energy (600163.SH) announced that the company plans to acquire 51% equity of Fujian Yongtai Mintou Pumped Storage Energy Co., Ltd. ("Mintou Pumped Storage Energy") held by its controlling shareholder, Fujian Provincial Investment and Development Group Co., Ltd., in cash. The transaction price is determined based on the assessment results of an asset valuation report, with a total consideration of 864 million yuan.
This transaction is to fulfill the commitment made by the company's controlling shareholder to avoid industry competition by injecting high-quality assets into the listed company. The transaction will expand the company's business into the pumped storage energy sector, helping to increase the company's asset size and comprehensive competitiveness, further enhancing the company's industry position and sustainable profitability.
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