China Power International Development Limited (stock code: 02380) announced that on 13 March 2026 its 97.80%-owned subsidiary, SPIC Yuanda Environmental Protection Engineering Co., Ltd. (Yuanda Engineering), signed a Sale and Purchase Contract with Shandong Ludian International Technology and Trade Corp., Ltd., an indirect subsidiary of State Power Investment Corporation (SPIC).
Under the contract, Yuanda Engineering will design, procure, fabricate, transport, install and commission a full set of dedusting equipment and components for the ultra-supercritical 1,320 MW Liutang coal-fired power project in Guizhou Province. The scope also covers a one-year warranty period with defect rectification obligations, staff training and final acceptance services.
Total consideration is RMB59.86 million (approximately HK$68.02 million), inclusive of taxes. Payment will be settled in six tranches: 10% prepayment within one month of contract signing, 30% upon ordering main materials, 30% at 60% fabrication completion, 15% on delivery acceptance, 10% after a 168-hour full-load trial run, and the remaining 5% after warranty expiry or issuance of the final acceptance certificate.
Pricing was determined through a public tender on national procurement platforms, benchmarked against recent successful bids for comparable dedusting projects and Yuanda Engineering’s contracts with independent third parties.
Because SPIC controls 65.61% of CHINA POWER and Shandong Ludian is a SPIC subsidiary, the deal constitutes a connected transaction under Hong Kong Listing Rules. The applicable percentage ratios exceed 0.1% but fall below 5%, requiring announcement and reporting only; independent shareholders’ approval is not needed.
Management states the contract supports tighter environmental standards for coal-fired plants and aligns with the group’s strategy to expand green and low-carbon solutions. All directors, including independent non-executive directors, consider the terms fair, reasonable and in the interests of shareholders. No director abstained from voting on the approval.