Xintian Green Energy (00956) transferred 20% of Shangyi Xintian's shares to Huihai Company for 127.6 million yuan

According to the Zhitong Finance App, Xintian Green Energy (00956) announced that Hebei Construction Investment New Energy, a wholly-owned subsidiary of the company, signed an equity transfer contract with Huihai Company on October 18, 2024. Based on this, Hebei Construction Investment New Energy transferred 20% of Shangyi Xintian's shares to Huihai Company, at a consideration of approximately RMB 127.6 million. After the equity transfer is completed, Hebei Construction Investment New Energy and Huihai Company will hold 80% and 20% of Shangyi Xintian's shares respectively, and Shangyi Xintian will remain subsidiaries of the company.

Established in China in March 2011, Shangyi Xintian mainly invests in the construction and operation of the Dadongshan Wind Farm. The company considers and makes share transfer decisions based on actual business conditions and overall development needs. In recent years, the company's wind power development business has grown rapidly. It has successively obtained new energy construction targets in many parts of the province, and future capital requirements are high. This equity transfer is conducive to relieving capital pressure, enriching capital allocation methods, forming greater capital coordination in subsequent joint project investment activities to leverage more high-quality resources, and further enhance the company's project development and construction capabilities.