Jiaze Renewables receives final payment for subsidiary equity transfer

Ningxia Jiaze Renewables Corporation (SSE:601619) announced that it has received the final equity transfer payment of RMB 24.43 million from China Power Investment Corporation Xinjiang Energy and Chemical Group Hami Co., Ltd. This payment completes the transfer of all equity in a first-level wholly-owned subsidiary, Xinjiang Jiaze Power Generation Co., Ltd. Approvals for the initial transfer were obtained at the company's 22nd board meeting, 22nd supervisory board meeting, and the first extraordinary general meeting in 2021. The original equity transfer agreement was disclosed on June 10, 2021. With this final payment, related litigation matters are now concluded.