Zhongshan Public Utilities re-engages on acquisition talks

Zhongshan Public Utilities Group (SZSE:000685) has resumed discussions with Longqing Group regarding the potential acquisition of Longqing Environmental Energy (Zhongshan) Co., Ltd. and Zhongshan Longqing Environmental Thermal Energy Co., Ltd. Initial framework agreements were signed in June 2023, with extensions until May 2024, but the deal stalled as parties could not agree on terms. Considering current market conditions and company strategies, Zhongshan Public Utilities is re-engaging with Longqing Group, further negotiations depend on due diligence, auditing and evaluations. The company cautions investors that no formal agreement has been reached, and significant uncertainty remains.