SPIC Capital Holdings M&A deal approved by Shenzhen Stock Exchange

National Power Investment Group Capital Holdings Co., Ltd. announced its major asset restructuring, including an asset swap, share issuance to acquire assets, and a related fundraising, has been approved by the Shenzhen Stock Exchange M&A and Restructuring Review Committee. The committee, in its 12th review meeting on December 4, 2025, concluded that the transaction meets restructuring conditions and information disclosure requirements.

The transaction involves the company acquiring 100% equity of SPIC Nuclear Power Co., Ltd. through an asset swap and share issuance, while divesting 100% equity of National Power Investment Group Capital Holdings Co., Ltd. Concurrently, the company plans to raise supporting funds.

The proposed transaction still requires registration approval from the China Securities Regulatory Commission. The company highlighted that the timing and ultimate outcome of this final approval remain uncertain and committed to timely information disclosure regarding future developments. Investors are advised to be aware of potential investment risks.