Towngas Smart Energy Announces Equity Interests Disposal in Subsidiaries to Asset-Backed Securities Program

Reuters
06-03
Towngas Smart Energy Announces Equity Interests Disposal in Subsidiaries to Asset-Backed Securities Program

Towngas Smart Energy Company Ltd. has announced the disposal of equity interests in its subsidiaries to an Asset-Backed Securities (ABS) Program. This update follows earlier announcements made on 9 September 2024 and 3 December 2024 regarding the ABS Program and the issuance of the first tranche of ABS. The company has agreed to subscribe for equity class ABS under the Second Tranche Program with a principal amount of RMB24 million, representing approximately 5.1% of the total principal of the ABS to be issued. This move aims to enhance the Group's liquidity by securitizing its solar photovoltaics assets. The proceeds from this transaction will be used for investments in rooftop photovoltaic power generation, energy storage power station projects, repayment of bank borrowings, and general working capital purposes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Towngas Smart Energy Company Ltd. published the original content used to generate this news brief on June 03, 2025, and is solely responsible for the information contained therein.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

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