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.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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