Grandblue Environment progresses with major asset restructuring

Grandblue Environment (SSE:600323) announced significant progress in its major asset restructuring, involving the privatization of Yue Feng Environmental Power Co., Ltd., a company listed on the Hong Kong Stock Exchange. The privatization will be executed through Grandblue's subsidiary, Grandblue (Hong Kong) Environmental Investment Co., Ltd. All precedent conditions for the transaction have been met. A shareholder meeting to deliberate on the privatization is scheduled for May 12, 2025. Furthermore, Grandblue Hong Kong has signed a letter of intent with AEP GREEN POWER LIMITED, a shareholder holding 3.62% (88,374,678 shares) of Yue Feng, with AEP confirming its intention to support the privatization by exercising all its voting rights at the relevant shareholder meetings.