Jointo Energy Investment Co., Ltd. Hebei signed an contract to acquire 30% stake of Yangmei Group Shouyang Boqi Power Generation Co., Ltd. from Huayang New Material Science And Technology Group Co., Ltd.
November 19, 2020
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Jointo Energy Investment Co., Ltd. Hebei (SZSE:000600) signed an contract to acquire 30% stake of Yangmei Group Shouyang Boqi Power Generation Co., Ltd. from Huayang New Material Science And Technology Group Co., Ltd. on September 30, 2020. September 29, 2020, Jointo Energy Investment Co., Ltd. Hebei agreed to acquire 21% stake of Yangmei Group Shouyang Boqi Power Generation from Beijing Boqi Environmental Solutions Technology Co., Ltd. As a result of both the transactions Jointo Energy will hold 51% stake in Yangmei Group. For the year ended December 31, 2020, Yangmei Group reported Total Assets of CNY 1.5 billion, Net assets of CNY 609.2 million, Net loss of 0.4 million and CNY 0 as Revenue. As of November 19, 2020, the transaction is approved by board of directors of Jointo Energy.
Jointo Energy Investment Co Ltd Hebei is a China-based company principally engaged in the generation, supply and investment of electricity power. The Company is principally engaged in the investment, construction, operation and management of energy projects mainly based on power generation, the investment in coal-fired thermal power generation, urban centralized heating, the investment in photovoltaic, nuclear power, offshore wind power, hydropower and other new energy projects, as well as the provision of power, heat supply and comprehensive energy services for North China. The Company also provides catering and accommodation services, energy services and trade and distribution services. The Company principally conducts its businesses in domestic and overseas markets.
Jointo Energy Investment Co., Ltd. Hebei signed an contract to acquire 30% stake of Yangmei Group Shouyang Boqi Power Generation Co., Ltd. from Huayang New Material Science And Technology Group Co., Ltd.