Haining China Leather Market (002344.SZ) subsidiary plans to acquire equity in 38 photovoltaic companies for 226 million yuan.

Haining China Leather Market (002344.SZ) announced that its wholly-owned subsidiary, Haining China Leather City Investment Co., Ltd., plans to acquire the equity of 38 photovoltaic companies under Zhejiang Shengmao New Energy Technology Co., Ltd., Haining Juhui New Energy Co., Ltd., and Haining Xinjie New Energy Technology Co., Ltd. for a total price of 226 million yuan. The related equity transfer agreement was signed in Haining, Zhejiang Province on August 11, 2026. It is reported that the main business of the target companies is CECEP Solar Energy's photovoltaic power generation. Upon completion of the transaction, the company will hold 100% equity of the aforementioned 38 target companies through its subsidiary, New Energy Company, which will be included in the companys consolidated financial statements after the completion of the equity transfer. Leveraging its own experience in green energy operations, New Energy Company is positioning itself in the high-quality photovoltaic asset sector in the Yangtze River Delta region, which will further expand its upstream and downstream businesses in comprehensive energy services and carbon asset management, thereby strengthening the scale of the new energy sector. The target companies involved in this transaction are concentrated in industrial parks in the Yangtze River Delta, with relatively mature projects, stable grid connections, and long remaining operational periods (averaging about 20 years), offering sustainable and stable investment returns.