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 investment, construction, operation and management of electric power generation projects. The Company is involved in electric power business mainly through coal-fired thermal power generation and heat supply, as well as the investment in new energy projects such as nuclear power, wind power, hydropower and others. The Company also provides hotel catering and accommodation services and integrated energy services. The Company operates its businesses mainly in Hebei Province, China.
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.