Guangyu Development: intends to replace 100% equity of Luneng New Energy with real estate and property companies and other assets

　　Guangyu DevelopmentSeptember 5 eveningannouncement, To belong toreal estateThe company’s and property company’s equity and other assets and liabilities, together with Luneng Group Co., Ltd. (hereinafter referred to as “Luneng Group”) and Metro City Weiye Group Co., Ltd. (hereinafter referred to as “Ducheng Weiye”), jointly hold Luneng New Energy (Group) Co., Ltd. ( Hereinafter referred to as “Luneng New Energy”) 100% equity of the company will be exchanged for assets. The price of this transaction has not yet been determined, and the method of making up the difference is determined by the parties through negotiation, but does not involve the issuance of shares.

According to reports, the counterparty Luneng Group is the company’s holdingshareholder, Ducheng Weiye is a related party of the company, the controlling shareholders of Luneng Group and Ducheng Weiye are China Green Development Investment Group Co., Ltd. (hereinafter referred to as “China Green Development”), and the actual controller is the State-owned Assets Supervision and Administration Commission of the State Council. Therefore, this transaction constitutes a connected transaction .According to preliminary research and calculations, this transaction is expected to constitute the “Major Assets of Listed CompaniesReorganizationMajor asset reorganization as stipulated in the Administrative Measures. After the completion of this transaction, the company’s controlling shareholder and actual controller remained unchanged.

The announcement stated that the transaction is still in the planning stage, and the transaction plan still needs to be further demonstrated and communicated and negotiated, and necessary decision-making and approval procedures must be performed in accordance with relevant laws, regulations and the company’s articles of association. The company has not yet signed an agreement of intent with the counterparty for this transaction.

The announcement shows that the transaction price has not yet been determined, and the specific replacement price will be determined on the basis of the proposed assets and the estimated value of the assets that have been filed by the state-owned assets supervision and administration department or other competent units.The company will organize independent financial advisors, legal advisors, audit agencies, and appraisal agencies and other relevant intermediaries to conduct due diligence as soon as possible, and sign a formal agreement after completing the audit and appraisal of relevant assets, and submit it to the company’s board of directors andGeneral meeting of shareholdersDeliberate.

(Source: China Securities Network)

Article source: China Securities Network

Editor in charge: DF546

Original title: Guangyu Development: intends to replace 100% equity of Luneng New Energy with real estate and property companies and other assets