Three Gorges Water Conservancy sells associate stake to Bosai Mining

Chongqing Three Gorges Water Conservancy & Electric Power (Group) Co., Ltd. has announced a significant development in the public listing and transfer of its subsidiary associate company's equity. Its wholly-owned subsidiary, Chongqing Liangjiang Changxing Electric Power Co., Ltd., has officially signed an “Equity Transaction Contract” with Chongqing Bosai Mining (Group) Co., Ltd. for the transfer of its 41.0071% stake in Chongqing Tiantai Energy Group Co., Ltd. The transaction price is RMB 640,759,600, which aligns with the appraised value from an assessment by Zhongrui Shilian Asset Appraisal Group Co., Ltd.

The full payment of RMB 640,759,600 for the transaction has been received by Changxing Electric Power from Bosai Mining through the Chongqing United Assets and Equity Exchange. This deal is not a related-party transaction and does not constitute a major asset reorganization under relevant regulations. The company expects this transaction to generate an investment income of approximately RMB 190 million for the current period, subject to audited financial statements for 2025.

While the contract has been signed and payment completed, the parties still need to finalize the equity transfer registration with the relevant market supervision authority. The company will continue to monitor the progress and fulfill its information disclosure obligations.