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Huaneng Power Forms Joint Venture with Hydropower Unit
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Huaneng Power Forms Joint Venture with Hydropower Unit

Huaneng Power International (HK:0902) has released an update.

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Huaneng Power International has formed a joint venture with Huaneng Hydropower, creating Yuwang Company with a combined investment of over RMB2.96 billion. Huaneng Power will hold a 51% stake, while Huaneng Hydropower will control 49%, as part of a strategic move to expand in the power sector. This connected transaction aligns with Hong Kong Listing Rules, requiring reporting and announcement but exempting independent shareholder approval.

For further insights into HK:0902 stock, check out TipRanks’ Stock Analysis page.

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