Jinglian Group (01751) completed the acquisition of 100% shares in Guangdong Fengxin Water Resources and Hydropower Project

According to Zhitong Finance App, Jinglian Group (01751) issued an announcement. Prior to the date of this announcement, the Group acquired 100% of the shares of Guangdong Fengxin Water Resources and Hydropower Engineering Co., Ltd. Guangdong Fengxin is a limited liability company registered in the People's Republic of China and has the relevant professional qualifications required to carry out engineering business in China. It has a Level 3 General Contracting Certificate for Construction Engineering Construction in China, a Level 3 General Contracting Certificate for Electric Power Engineering Construction, and a Level 2 Certificate for Professional Contracting for Building Decoration Projects. Guangdong Fengxin is applying to upgrade the construction engineering certificate and power engineering certificate to level 2 certificates.

On the date of this announcement, the equity transfer and industrial and commercial change registration procedures relating to the target company's acquisition have been completed, and the company has obtained Guangdong Fengxin's post-change business license issued by the market supervision and administration department. As a result, Guangdong Fengxin officially became a wholly-owned subsidiary of the Group, and its financial results will be consolidated into the Group's comprehensive financial statements.

The Group is actively expanding the engineering business segment in China, and the acquisition of Guangdong Fengxin is in line with the Group's long-term development strategy. Through this acquisition, the Group will rapidly expand its engineering business layout in China and enhance market competitiveness. Enhance sustainable profitability and profitability, thereby creating greater value for shareholders.