Shenzhen Energy plans 200 bn yuan bond issuance, corporate restructuring

Shenzhen Energy Group announced a preliminary proposal for a public issuance of corporate bonds, targeting professional investors, with a total value not exceeding 200 billion yuan. The issuance, which could include various specialized bond types and maturities up to 30 years, aims to broaden financing channels, optimize debt structure, and meet strategic development needs. This proposal requires shareholder approval and regulatory registration.

In a related move, the board approved the transfer of 100% equity of Shenzhen Energy Shenzhen New Energy Investment Co., Ltd. to Shenzhen Energy (Shenzhen) Innovation Technology Co., Ltd., effective December 31, 2024. This move is aimed at fostering resource sharing and synergy within the group. The board also agreed to inject 958.3 million yuan into Innovation Technology Co., Ltd., increasing its registered capital to 986.3 million yuan, to support future R&D and operational needs.

Additionally, the board approved a plan to engage in low-risk, fixed-income wealth management products, with a total investment limit of 2 billion yuan at any given time, for a period of 12 months. This initiative seeks to enhance liquidity management and capital utilization, investing in R1 and R2 risk-rated products such as money market funds and structured deposits.