Yunnan Wenshan Electric Power Co.,Ltd. (SHSE:600995) agreed to acquire China Southern Power Grid Peak and Frequency Modulation Power Generation Co., Ltd. from China Southern Power Grid Co., Ltd on September 26, 2021. As part of the Consideration buyer is carrying out a asset swap transaction supplemented by issuance of shares, with assets including company's direct power supply services in five cities and equity in different companies, the final price of asset to be swapped out was approximately CNY 2.1 billion with the difference to be covered by issuance of shares. Yunnan carry out a private placement to raise matching funds.

China Southern Power Grid Peak and Frequency Modulation Power Generation reported total assets of CNY 2.3 billion and total common equity of CNY 640 million till June 30, 2021.