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