ENN ENERGY (02688) announced that it has recently received a no-objection letter from the Shenzhen Stock Exchange regarding its proposed establishment of the "ENN Pan-Energy 1-8 Carbon Neutral Green Asset-Backed Special Plan" (the ABS Plan) and its application for listing. The underlying assets of the ABS Plan consist of equity interests in project companies holding distributed photovoltaic power generation and energy storage projects owned by ENN (China) Gas Investment Co., Ltd. China Securities Co., Ltd. and Huatai Securities (Shanghai) Asset Management Co., Ltd. will serve as the plan managers. The plan managers will issue asset-backed securities (ABS) to investors, supported by these underlying assets, and jointly oversee the management and execution of the ABS Plan. The initiative aims to further optimize the asset and financing structure of the company and its subsidiaries. According to the no-objection letter, the total issuance of the ABS Plan will not exceed RMB4 billion, with the securities to be issued in tranches (up to eight). Principal and interest payments will be funded by cash flows generated from the underlying assets held by the project companies. The company expects the first tranche to amount to approximately RMB608 million, with plans to list the related ABS on the Shenzhen Stock Exchange. The final issuance size, tenor, and other terms of the ABS will be determined based on prevailing market conditions at the time of issuance.