Shanghai Electric subsidiary fails to find buyer again

Shanghai Electric Group Company (SSE:601727) announced that its subsidiary, Ningbo Haifeng Environmental Protection Co., Ltd., has again failed to find a buyer for its comprehensive treatment project assets after a second round of public listing. The assets, consisting of land use rights and construction in progress located in Yuyao City, were initially listed at a price of RMB 90.66 million. Following the unsuccessful first listing which concluded on January 15, 2025, the price was reduced by 10% to RMB 81.594 million. As no buyers emerged during the second listing which ended on March 20, 2025, Shanghai Electric's board has approved a third listing with a further 10% price reduction to RMB 73.4346 million. If this third attempt fails, the asset sale will be terminated.