Beijing Jingneng Faces Financial Hit from Hydropower Shutdown
Company Announcements

Beijing Jingneng Faces Financial Hit from Hydropower Shutdown

Beijing Jingneng Clean Energy Co., Ltd. Class H (HK:0579) has released an update.

Beijing Jingneng Clean Energy Co., Ltd. faces significant financial impacts as their subsidiary, Sichuan Dachuan, is ordered to cease operations of four hydropower stations in Sichuan Province to protect the ecological environment of the Giant Panda National Park. This shutdown is expected to reduce the company’s annual operating revenue by approximately RMB30 million and result in asset impairments between RMB750 million and RMB850 million. The company is in discussions for compensation arrangements following this government directive.

For further insights into HK:0579 stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks HongKong Auto-Generated NewsdeskBeijing Jingneng Clean Energy Announces New Share Grant
TipRanks HongKong Auto-Generated NewsdeskBeijing Jingneng Clean Energy Reports Strong Q3 Assets
TipRanks HongKong Auto-Generated NewsdeskBeijing Jingneng Clean Energy Plans Shareholder Meeting
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App