Inner Mongolia Electric Power Energy's restructuring plan approved by SASAC

Inner Mongolia Electric Power Investment Energy Co. Ltd. has announced that its proposed material asset restructuring has been approved by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). The company's controlling shareholder, State Power Investment Group Co. Ltd., received SASAC's "Reply on Matters Related to Asset Restructuring and Supporting Financing of Inner Mongolia Electric Power Investment Energy Co., Ltd." which grants principal consent to the overall plan.

The proposed transaction involves the company acquiring 100% equity of State Power Investment Group Inner Mongolia Baiyinhua Coal Power Co. Ltd. through a combination of share issuance and cash payment. Additionally, the company plans to raise supporting funds by issuing shares to no more than 35 specific investors. This transaction constitutes a material asset restructuring and a connected transaction but will not result in a backdoor listing or a change in actual control.

The completion of this restructuring is still contingent on approval by the company's shareholders, review by the Shenzhen Stock Exchange, registration approval by the China Securities Regulatory Commission, and other necessary approvals. The company will continue to provide updates on the progress of the restructuring.