China Power completes restructuring, boosts control in Yuanda Environmental

China Power International Development Limited (CPID) has completed its proposed asset restructuring, making Yuanda Environmental a non-wholly-owned subsidiary. Upon completion, CPID, directly and through its subsidiary Guangxi Company, now holds approximately 55.13% of Yuanda Environmental's issued share capital, with 2,414,961,831 shares. Yuanda Environmental's financial results will now be consolidated into CPID's financial statements.

Additionally, SPIC entered into a voting agreement, entrusting CPID with voting rights for 341,533,307 Yuanda Environmental shares (approximately 7.80%). This agreement, effective for three years with automatic extensions, increases CPID's total voting control in Yuanda Environmental to approximately 62.93%.

Following the restructuring, transactions under existing agreements between Yuanda Environmental and SPIC-related entities, including desulfurization and reclaimed water treatment contracts, have become continuing connected transactions for CPID. These agreements, valued up to RMB0.04294/kWh for environmental tariffs and RMB30,850 per cubic meter for catalysts, ensure ongoing business operations.