Datang Power proposes new financial services agreement with Datang Finance

Datang International Power Generation Co., Ltd. (Datang Power) announced a proposed financial services agreement with Datang Finance Company, a subsidiary of its controlling shareholder, China Datang Group. The agreement, effective from January 1, 2026, to December 31, 2028, covers deposit services, comprehensive credit services, and other financial services. This replaces the existing 2022 agreement, which expires on December 31, 2025.

Under the new agreement, Datang Finance will offer deposit interest rates no lower than those of major commercial banks in China, with an annual maximum daily deposit balance of RMB20 bn. This represents an increase of approximately 11.11% from the previous annual cap of RMB18 bn for 2025. Comprehensive credit services will have an annual limit of RMB30 bn, with interest and discount rates not exceeding those offered by other major Chinese commercial banks.

The board of directors, including independent non-executive directors, believes the terms of the 2025 financial services agreement are fair and reasonable and are in the best interests of the company and its shareholders. The transaction, classified as a continuing connected transaction, requires approval from independent shareholders at an upcoming extraordinary general meeting.