Huadian Liaoning Energy Co., Ltd. agreed to acquire Liaoning Huadian Tieling Power Generation Co., Ltd. and 51% stake in Fuxin Jinshan Coal Gangue Thermal Power Co., Ltd from Shenyang Jinshan Energy Co., Ltd. (SHSE:600396) on June 16, 2023. On June 27, 2023, Shenyang Jinshan Energy Co., Ltd and Huadian Liaoning Energy Co., Ltd. signed the "Equity Transfer Agreement" as signatories. On June 16, 2023, Fuxin Jinshan Coal Gangue Thermal Power Co., Ltd held an extraordinary shareholders meeting to review and approve this transaction. For the period ended February 28, 2023, Total Assets were of CNY 5.3 billion and Net Liabilities were of CNY 3 billion. On June 19, 2023, China Huadian Corporation Ltd, the sole shareholder of Huadian Liaoning Energy Co., Ltd., made a shareholder decision and agreed to this transaction. On June 20, 2023, Shenyang Jinshan Energy Co., Ltd., the sole shareholder of Liaoning Huadian Tieling Power Generation Co., Ltd, made a shareholder decision to review and approve this transaction. On June 25, 2023, China Huadian Corporation Ltd?s filing procedures for this assessment report was completed. On June 27, 2023, the company held the tenth meeting of the eighth session of the board of directors, and reviewed and approved the transaction. The transaction is approved by the shareholders of Shenyang Jinshan Energy in a meeting held on August 10, 2023.

Huatai United Securities Co., Ltd. acted as financial advisor and King & Wood Mallesons, Australia Branch acted as legal advisor for Shenyang Jinshan.

Huadian Liaoning Energy Co., Ltd. completed the acquisition of Liaoning Huadian Tieling Power Generation Co., Ltd. and 51% stake in Fuxin Jinshan Coal Gangue Thermal Power Co., Ltd from Shenyang Jinshan Energy Co., Ltd. (SHSE:600396) on August 30, 2023.