China Power International Development (HK:2380) has released an update.
China Power International Development Limited has entered into a Cooperation Framework Agreement with Huainan Mining to deepen their collaboration in ‘coal-and-power joint-operation’. The agreement includes the development of the Pingwei Phase IV Project, which will add two ultra-supercritical coal-fired power generating units, and an equity restructuring that will see China Power’s stake in Pingwei Power decrease from 60% to 49%, making it an associate rather than a subsidiary. This strategic move is aimed at enhancing China Power’s high-quality development and aligns with its goals of sustainable growth and shareholder interests.
For further insights into HK:2380 stock, check out TipRanks’ Stock Analysis page.
