Sichuan Xichang Electric Power Co.,Ltd. (SHSE:600505) intends to acquire 39% equity in Yanyuan Fengguang New Energy Co., Ltd. from Sichuan Zhonghuan Energy Co., Ltd. for CNY 48.5 million on December 30, 2021. The board of directors of Sichuan Xichang Electric Power reviewed and approved the Proposal on the Acquisition of the Equity Project of Yanyuan Fengguang New Energy Co., Ltd. After the completion of the acquisition, the equity structure of Yanyuan Fengguang New Energy Co., Ltd is that Sichuan Xichang Electric Power holds 90% of the shares, and Yanyuan County Gold Iron Mining Group Co., Ltd. holds 10% of the shares. The financials stated as on December 2021, total assets for approximately CNY 343 million, net assets for approximately CNY 155 million and net profit for CNY 5 million.