SPIC IFH(000958) Zheng Quan Zhi Xing·2025-05-15 13:27Core Viewpoint - The company plans to acquire 100% equity of Guodian Power Nuclear Co., Ltd. through asset swaps and share issuance, while also divesting 100% equity of State Power Investment Group Capital Holdings Co., Ltd. This transaction aims to enhance the company's asset scale and profitability, with measures in place to mitigate any potential dilution of immediate returns for investors [1][4]. Financial Impact - Before the transaction, the total assets were approximately 4,783.17 million, and after the transaction, they are expected to increase to about 12,732.36 million [2]. - The total liabilities before the transaction were around 1,804.26 million, which will rise to approximately 7,785.04 million post-transaction [2]. - The total operating revenue is projected to grow from 574.45 million before the transaction to 1,070.06 million afterward [3]. - Net profit is expected to increase from 136.29 million to 390.49 million following the transaction [3]. - The net profit attributable to the parent company is anticipated to rise from 104.40 million to 343.72 million [3]. - The asset-liability ratio will change from 37.72% to 61.14% post-transaction [3]. Measures to Mitigate Dilution - The company plans to accelerate the integration of Guodian Power Nuclear to enhance profitability, focusing on procurement, sales, finance, and daily operations [4][5]. - The governance structure will be improved to ensure effective management and protect investor interests, particularly for minority shareholders [5][6]. - The company will enhance its profit distribution policy to ensure reasonable returns for investors, aligning with regulatory requirements [6]. Commitments from Management - The board of directors and senior management have committed to not transferring benefits unfairly and to adhere to the measures for mitigating return dilution [7]. - The controlling shareholder and its affiliates have also pledged not to interfere with the company's management and to bear responsibility for any losses incurred by the company or its investors [8].