FilingReader Intelligence

China Power's asset restructuring progresses steadily

March 27, 2025 at 10:15 PM UTCBy FilingReader AI

China Shipbuilding Industry Group Power Co., Ltd. (SSE:600482) announced ongoing progress in its asset restructuring, which includes the acquisition of a 16.5136% stake in China Diesel Engine Co. from China Shipbuilding Industry Group Co., Ltd. The deal will be financed through the issuance of convertible bonds and cash payments, along with raising supporting funds via convertible bonds. Trading of the company's stock and convertible bonds (110807, 110808) was previously halted and subsequently resumed on November 11, 2024. The company stated that all intermediary agencies involved have essentially completed their due diligence investigations and are in the process of completing final reports. The company will convene a board meeting to review the deal and will ask for the deal to be reviewed at the AGM. The company cautioned that the deal remains subject to internal approvals, regulatory approvals, and market uncertainties.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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