Sichuan Chuantou Energy Co.,Ltd. (SHSE:600674) signed a Notice of Transaction Signing to acquire 10% stake in DaDu River Hydropower Development CO.,LTD from China Energy Investment Corporation for CNY 4 billion on November 23, 2022. Sichuan Chuantou Energy Co.,Ltd. (SHSE:600674) signed a conditionally effective contract acquire 10% stake in DaDu River Hydropower Development CO.,LTD from China Energy Investment Corporation on December 21, 2022. Sichuan Chuantou held the eighth meeting of the eleventh board of directors and the eighth meeting of the eleventh board of supervisors on August 19, 2022, and the third extraordinary general meeting of shareholders in 2022 held on September 7, 2022, Proposal Report on Participating in the Bidding for the 10% Equity Project of DaDu River Hydropower Development CO.,LTD and other proposals was approved.

On October 24, 2022, China Energy Investment Corporation Limited issued an announcement on the listing and transfer of the underlying assets on the Beijing Equity Exchange, publicly listing and transferring 10% of the equity of Dadu River. The deadline for listing is November 18, 2022. On November 23, Sichuan Chuantou received the "Notice of Transaction Signing" issued by the Beijing Equity Exchange, confirming that the company has become the transferee of the project of " Dadu River Basin 10% Equity", and the company will sign the "Property Rights Transaction Contract" with the transferor in a timely manner in accordance with the requirements of the Beijing Equity Exchange Information Disclosure Announcement, and handle related matters.

On November 30, 2022, DaDu River Hydropower Sichuan Chuantou Energy's board approved the deal. As of January 31, 2022, shareholders of Sichuan Chuantou Energy Co., Ltd. approved the transaction. For the period April 30 ,2022, DaDu River Hydropower had CNY 23,854.5762 million of Owners' equity and CNY 109,624.1754 million of total assets.

UBS Securities Co., Limited acted as financial advisor and Dacheng Law Offices acted as legal advisor to DaDu River Hydropower Development CO.,LTD. UBS Securities Co., Limited acted as financial advisor to Sichuan Chuantou Energy Co.,Ltd.