SPIC Dongfang asset restructuring review resumes at Shenzhen Stock Exchange

SPIC Dongfang New Energy Corp. (stock code: 000958) announced today that the Shenzhen Stock Exchange (SZSE) has resumed its review of the company's major asset replacement and share issuance to acquire assets, coupled with a private placement of supporting funds. The company aims to acquire 100% equity of SPIC Nuclear Power Co., Ltd. through asset replacement and share issuance, while divesting 100% equity of SPIC Capital Holdings Co., Ltd.

The SZSE had initially accepted the application on June 13, 2025, but suspended the review on September 30, 2025, due to the expiration of financial and valuation data. SPIC Dongfang updated these materials and submitted a request for resumption on November 13, 2025, with the SZSE approving the resumption on November 14, 2025.

Concurrently, SPIC Dongfang held its Fifth Extraordinary General Meeting of Shareholders on November 14, 2025, where shareholders approved the proposal concerning the extension of an entrusted loan from SPIC Capital to SPIC Dongfang. The proposal passed with 99.9557% of votes in favor from attending shareholders. The company emphasized that the transaction still requires further review by the SZSE and approval from the China Securities Regulatory Commission, noting that the final outcome and timing remain uncertain.