Core Viewpoint - Shanghai Electric has terminated its plan to acquire 66.4% of K-Electric Limited in Pakistan after over nine years of planning, citing changes in the business environment and unmet conditions for the deal [2][6][8]. Group 1: Termination of Acquisition - On September 9, Shanghai Electric announced the termination of its acquisition of 183.36 billion shares of K-Electric, originally valued at $1.77 billion [2][3]. - The decision was made during the company's ninth board meeting, where the proposal to terminate the acquisition was approved [3]. - The company stated that the termination of the transaction would not have a substantial impact on its operations or financial status [5][7]. Group 2: Reasons for Termination - The termination was attributed to the failure of the counterparty to meet the closing conditions and changes in the business environment in Pakistan, which no longer aligned with the company's international development strategy [6][8]. - Shanghai Electric emphasized that the acquisition had been in planning since 2016, with multiple disclosures made over the years regarding the transaction [6]. Group 3: New Investment Plans - Concurrently, Shanghai Electric announced plans to invest 6 billion yuan in two new projects: the Fengxian No. 1 offshore photovoltaic project and a 400,000 kW wind power project in Mudanjiang, Heilongjiang [8]. - The Fengxian project will have a capacity of 500,000 kW and a total investment of up to 3.78 billion yuan, while the wind power project will require up to 2.26 billion yuan [8]. - Both projects will be financed with 20% equity and the remainder through loans, reinforcing the company's commitment to green energy initiatives [8].

Group 1 - The core point of the article is that Shanghai Electric Power announced the investment decision for the "Shangdian Green Energy Fengxian No. 1 Offshore Photovoltaic Project" during its board meeting held on September 9, 2025 [1] - For the first half of 2025, the company's revenue composition was 98.98% from the power industry and 1.02% from other industries [1] - As of the report date, Shanghai Electric Power has a market capitalization of 65.1 billion yuan [1]

Mergers and Acquisitions - Shanghai Electric has announced the termination of its acquisition of K-Electric Limited, which involved purchasing 18.336 billion shares, representing 66.40% of the total issued share capital, for a planned consideration of $1.77 billion [1] Shareholding Changes - Yongxin Optical's major shareholder, Ningxing Asset Management Co., plans to reduce its stake by no more than 1%, equating to a maximum of 1.1094 million shares [2] - Tianzheng Electric's actual controller, along with associated parties, intends to reduce their holdings by a total of up to 2.36%, which includes a maximum of 1.194 million shares through centralized bidding and 6.879 million shares through block trading [3] - China Integrated Circuit Industry Investment Fund, holding 7.3747% of China Electric Port, plans to reduce its stake by up to 3% through centralized bidding or block trading [4] Company Operations - Zhongjin Gold has reported that its subsidiary, China Gold Group Inner Mongolia Mining Co., has resumed production, and the suspension did not significantly impact the company's overall operations and performance [5] - Juran Smart Home has announced a change in its actual controller from Wang Linpeng to Yang Fang due to the former's passing, with no significant adverse impact on the company's operational stability and independence [6] Fundraising Activities - Guangxun Technology plans to issue up to 242 million shares to specific investors, including its actual controller, China Information Communication Technology Group, with expected total fundraising of up to 3.5 billion yuan, aimed at funding production projects and supplementing working capital [7]

Group 1 - The company announced investment decisions for two renewable energy projects: the Fengxian No. 1 offshore photovoltaic project and the Heilongjiang Mudanjiang 400,000 kW wind power project [1] - The Fengxian No. 1 offshore photovoltaic project has a capacity of 500,000 kW and a total investment not exceeding 3.78 billion yuan, with 20% funded by equity and the remainder through loans [1] - The Heilongjiang Mudanjiang wind power project has a capacity of 400,000 kW and a total investment not exceeding 2.261 billion yuan, also with 20% funded by equity and the rest through loans [1] Group 2 - The company planned to acquire 183.36 million shares of K-Electric Limited, representing 66.4% of its total issued share capital, for a cash consideration of 1.77 billion USD, with potential additional rewards not exceeding 27 million USD [2] - The acquisition was classified as a major asset restructuring, not involving share issuance or related party transactions, and would not change the company's controlling shareholder or actual controller [2] - The company has decided to terminate the major asset purchase matter [2]

Core Viewpoint - Shanghai Electric has decided to terminate the acquisition of K-Electric Limited due to unmet conditions and changes in the business environment in Pakistan [1] Group 1: Acquisition Details - The company planned to acquire 183.36 billion shares of K-Electric, representing 66.40% of its total issued share capital, for a cash consideration of $1.77 billion [1] - An additional incentive payment of up to $27 million was to be provided based on the operational performance of K-Electric [1] Group 2: Reasons for Termination - The counterparty failed to meet the closing conditions outlined in the share purchase agreement [1] - Changes in the business environment in Pakistan led to the transaction no longer aligning with the company's international development strategy [1] - The company exercised its right to terminate the agreement based on the provisions of the share purchase agreement [1]

Core Viewpoint - Shanghai Electric has decided to terminate and write off the acquisition of a stake in Pakistan's KE Company, indicating a strategic shift in its investment approach [1] Group 1 - The company held its ninth board meeting on September 9, where the decision to terminate the acquisition was made [1] - The resolution to end the significant asset purchase was approved during the board meeting [1]

Core Viewpoint - Shanghai Electric has approved investment decisions for two renewable energy projects, indicating a strategic focus on expanding its green energy portfolio [1] Group 1: Project Investments - The company has decided to invest in the "Shangdian Green Energy Fengxian No. 1 Offshore Photovoltaic Project" with a total investment not exceeding 3.78 billion yuan, where the capital contribution will be 20% of the total investment [1] - Additionally, the company approved the investment in the "Xinjiang Zhenyuan Heilongjiang Mudanjiang 400,000 kW Wind Power Project" with a total investment not exceeding 2.26 billion yuan, also with a capital contribution of 20% [1]

国泰海通证券股份有限公司 关于上海电力股份有限公司 终止重大资产购买之独立财务顾问核查意见 国泰海通证券股份有限公司（以下简称"国泰海通""独立财务顾问"） 接 受上海电力股份有限公司（以下简称"上海电力""上市公司""公司"）的委 托，担任上海电力本次重大资产购买的独立财务顾问，根据《上市公司重大资产 重组管理办法》《上海证券交易所上市公司自律监管指引第 6 号——重大资产 重组》等相关法律、法规及规范性文件的规定，对上市公司终止本次交易进行审 慎核查，并出具独立财务顾问核查意见（以下简称"本核查意见"）如下： 一、本次重大资产购买的基本情况 上市公司拟以现金方式收购KES POWER LTD.（以下简称"KES能源公司"） 持有的K-ELECTRIC LIMITED（以下简称"KE公司"）18,335,542,678股，占KE 公司总发行股本的66.40%，可支付对价为17.70亿美元，并视标的公司经营情况 给予交易对方或其指定方奖励金合计不超过0.27亿美元（简称"本次重大资产购 买""本次交易"）。 本次交易构成重大资产重组，不涉及发行股份，不构成关联交易、重组上市， 亦不会导致公司控股股东和实际控制 ...

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