Chongqing Three Gorges Water Conservancy to absorb wholly-owned subsidiary

The proposed absorption merger will see Chongqing Changdian United Energy’s legal entity status cancelled, with all its assets, liabilities, and operations transferred to Chongqing Three Gorges Water Conservancy. The move aims to compress management layers, optimize the organizational structure, and enhance operational efficiency. As Chongqing Changdian United Energy is a wholly-owned subsidiary, its financial statements are already consolidated, and the merger is not expected to significantly impact the company’s financial position or operating results. The company's board approved the resolution on September 10, 2025.

As of June 30, 2025, Chongqing Changdian United Energy reported total assets of yuan 15.22bn, total liabilities of yuan 8.13bn, and net assets attributable to the parent company of yuan 6.86bn. For the first half of 2025, its operating revenue was yuan 3.86bn, and net profit attributable to the parent company was yuan 92.32m. The merger still requires approval from Chongqing Three Gorges Water Conservancy’s general meeting of shareholders.