China Power International Development (HK:2380) has released an update.
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China Power International Development is set to reduce its stake in Pingwei Power from 60% to 49% as part of a capital injection agreement with Huainan Mining. This transaction, valued at approximately RMB152.8 million, will result in Pingwei Power transitioning from a subsidiary to an associate of the company. The deal aligns with a broader strategy to foster joint coal-and-power operations.
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