Xinte Energy subsidiary plans ABS scheme for asset optimization

Xinte Energy Co., Ltd. announced that its subsidiary, Sunoasis, proposes to issue the first phase of an asset-backed securities (ABS) scheme, utilizing two new energy power generation projects as underlying assets. This initiative falls under a shelf quota of RMB3 billion registered by TBEA, the controlling shareholder, on the Shanghai Stock Exchange, allowing for multiple tranches. The estimated issuance scale for the first phase, open to qualified professional investors, is not expected to exceed RMB1.5 billion.

The ABS scheme aims to optimize Xinte Energy's capital structure, revitalize existing assets, and accelerate asset turnover within the group. Sunoasis intends to dispose of a portion of its equity interests in subsidiaries Rongsheng Power and Xinyuan Energy to the manager of the ABS scheme. The consideration for this disposal will be based on the valuation of these subsidiaries and the shareholder loan provided by Sunoasis.

The proposed transaction is classified as a discloseable transaction under Chapter 14 of the Listing Rules, with a highest applicable percentage ratio expected to be between 5% and 25%. Shareholders and potential investors are cautioned that the transaction is subject to market conditions and regulatory approvals, and details are not yet finalized, with no binding agreements currently in place.