China Longyuan Power to Divest Wind Turbine Generator Maker; Shares Down 1%
MT Newswires Live
Yesterday
China Longyuan Power Group (HKG:0916, SHE:001289) agreed to transfer its 30% equity in Guodian United Power Technology to CHN Energy New Energy Technology, according to a Hong Kong filing on Saturday.
The Chinese power company's Hong Kong shares slipped over 1% during Monday's morning trade.
United Power, a manufacturer of wind turbine generators, has been incurring losses in 2023, 2024 and 2025.
The stake is priced at a consideration of 1 yuan.
CHN Energy (Beijing) Electrical Engineering Technology, a subsidiary of China Energy Investment, the controlling shareholder of Longyuan, will also offload its 30% equity in United Power for the same price of 1 yuan.
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