Shanghai Electric to transfer subsidiary equity to Shanghai Environment

Shanghai Electric Group (HKEX: 2727) announced the progress of its equity transfer of a subsidiary through a public tender. The company will transfer 100% equity of Shanghai Electric Group (Suning) Environmental Technology to Shanghai Environment Group Co., Ltd. following a listing on the Shanghai United Assets and Equity Exchange. Shanghai Environment emerged as the transferee on February 5, 2025. The transaction price is RMB157 million, equivalent to the appraised value of the subsidiary's shareholders' equity as of March 31, 2024. Key financial data for Shanghai Environment includes RMB2,957,303,99 as total assets as of September 30, 2024.