Dongfang Electric's wind power unit forms new energy joint venture

Dongfang Electric Corporation (DEC) announced its controlling subsidiary, Dongfang Electric Wind Power Co., Ltd. (Dongfang Wind Power), will form a joint venture, Woodley Wan Dong New Energy Co., Ltd., with Anhui Wanneng Energy Exchange Co., Ltd. (Wanneng Energy). Dongfang Wind Power will hold a 49% stake, contributing its 100% equity in Woodley Dongji New Energy Co., Ltd., valued at 90,984.68万元. Wanneng Energy will hold 51% and contribute 94,698.3405万元 in cash. The total registered capital of the joint venture will be 185,683.0205万元.

The transaction, approved by DEC's board on November 19, 2025, aims to optimize capital allocation and enhance specialized operations within the wind power sector. The joint venture is expected to increase DEC's 2025 total profit, with Woodley Dongji New Energy Co., Ltd. no longer consolidated into DEC’s financial statements post-transaction.

The board also approved a separate transfer where Dongfang International will transfer 19.4289% of Dongfang Electric Group Power Engineering Design Co., Ltd.'s equity to DEC, valued at approximately 6519.64万元, effective March 31, 2025.