Jiangsu Guoxin invests in subsidiary for power generation expansion

Jiangsu Guoxin Corp. announced a RMB180bn capital increase for its subsidiary, Jiangsu Guoxin Yangdian Power Generation Co., Ltd. ("Guoxin Yangdian"), to advance the 2x1000MW third-phase expansion project. This investment will increase Guoxin Yangdian's registered capital from RMB100bn to RMB195,592.1402m. Jiangsu Guoxin will contribute RMB106,755m, maintaining a 75% stake post-investment, with other shareholders and new investors also participating.

In a related announcement, Jiangsu Guoxin also completed the election of its Seventh Board of Directors and appointed senior management. Xu Wenjin was elected chairman, while Li Zhengxin was appointed general manager. Gu Zhonglin will serve as deputy general manager, board secretary, and CFO, with Sun Baoli as securities affairs representative.

The capital increase, which will proceed in two phases, aligns with Jiangsu Province's "15th Five-Year Plan" for medium and long-term regulated coal-fired power projects. This strategic move aims to optimize the company's power generation structure and enhance energy supply capabilities.