Shanghai Electric subsidiary asset transfer process continues

Shanghai Electric Group Company (SSE:601727) announced further developments regarding the planned transfer of assets related to a project by its subsidiary, Ningbo Haifeng Environmental Protection. The initial listing of the project assets, including land use rights and construction in progress located in Yuyao City, failed to attract any potential buyers by the deadline of January 15, 2025. The assets were initially valued at RMB 90.66 million as of May 31, 2024. The company's board of directors approved a resolution on March 13, 2025 to relist the assets at a reduced price, a 10% decrease from the original valuation, bringing the new listing price to RMB 81.594 million. Shanghai Electric stated it would continue to disclose relevant information as the transfer process progresses.