SPIC Dongfang New Energy's asset restructuring review halted by Shenzhen Stock Exchange

SPIC Dongfang New Energy Co., Ltd. announced on October 9, 2025, that the Shenzhen Stock Exchange has suspended its review of the company's major asset replacement and share issuance to acquire assets, along with fundraising. This pause is due to expired financial and appraisal data. The company plans to acquire 100% of State Power Investment Nuclear Energy Co., Ltd. and divest 100% of State Power Investment Capital Holdings Co., Ltd.

The suspension, notified on September 30, 2025, follows the expiration of the assessment report's valuation base date of September 30, 2024, and the audit report's financial data base date of December 31, 2024. Both had expired on September 30, 2025, necessitating supplementary submission of updated information.

The company stated that the suspension does not constitute a material impact on the transaction. SPIC Dongfang New Energy will coordinate with intermediaries to complete updated audits and appraisals, submit the renewed materials to the Shenzhen Stock Exchange, and apply for the resumption of the review. The transaction still requires further exchange approval and China Securities Regulatory Commission registration.