China Longyuan Power Group Corporation (00916) plans to acquire the 100MW wind power project in Henan Kunwu.

China Longyuan Power Group Corporation (00916) announced that the company's board of directors has approved its wholly-owned subsidiary, Shanghai Investment Company, to sign a "Purchase Agreement" with Xinyuan No. 1 Fund, to be executed no later than September 30, 2026. Accordingly, Shanghai Investment Company has conditionally agreed to acquire, while Xinyuan No. 1 Fund has conditionally agreed to sell its 100% stake in the target company, Puyang Yanjing New Energy Co., Ltd., for a consideration of 149 million yuan, with the final price not exceeding the valuation recorded by the state-owned asset supervisory authority. The target company is responsible for the investment and operation of the 100 MW wind power project in Kunwu, Henan. Before the completion of this transaction, the target company is not a subsidiary of the company. Upon completion of the transaction, the target company will become a subsidiary of the company, and its financial performance will be consolidated into the company's financial statements. To optimize the company's industrial layout in the northern Henan region and enhance market share, the company intends to complete the acquisition of the 100 MW wind power project in Puyang, Henan Province, through this transaction. The Kunwu project is funded and constructed by the target company and is a provincial key wind power project that has already achieved grid-connected power generation. After the completion of this transaction, the company will further increase its market share in the northern Henan region, creating a cluster effect with existing projects and optimizing the regional industrial layout.