Three Gorges Water Power sells stake in Tiantai Energy for 64bn yuan

Chongqing Three Gorges Water Conservancy & Electric Power (Group) Co., Ltd. announced the successful public listing and transfer of its 41.0071% equity in Chongqing Tiantai Energy Group Co., Ltd. Chongqing Bosai Mining (Group) Co., Ltd. was confirmed as the successful bidder with a final offer of 64.07596 billion yuan, matching the assessed valuation. This transaction, approved by the company's 2025 first extraordinary general meeting, aims to enhance asset operating efficiency and optimize strategic deployment.

The divestment is expected to generate an investment income of approximately 190 million yuan for Changxing Electric Power, a wholly-owned subsidiary of Chongqing Three Gorges Water Conservancy & Electric Power (Group) Co., Ltd., after deducting relevant costs. This will positively impact the company's financial status and operating results for 2025.

As of the announcement date, the formal property rights transaction contract has not yet been signed, and further approval from market supervision authorities is pending. Chongqing Three Gorges Water Conservancy & Electric Power (Group) Co., Ltd. will continue to monitor developments and fulfill its information disclosure obligations.