HUNAN DEVELOPMENT(SZ:000722) Zheng Quan Zhi Xing·2025-08-25 17:26Core Viewpoint - The company, Hunan Energy Group Development Co., Ltd., is undergoing a significant asset restructuring involving the acquisition of multiple hydropower companies through a combination of issuing shares and cash payments, which is expected to enhance its operational capacity in the electricity sector [3][4][5]. Group 1: Company Overview - Hunan Energy Group Development Co., Ltd. was established in 1993 and is headquartered in Changsha, Hunan Province, with a registered capital of 464,158,282.00 RMB [2][3]. - The company operates primarily in the electricity sector, focusing on power supply activities [3]. Group 2: Major Asset Restructuring Plan - The restructuring plan includes acquiring 90% stakes in Hunan Xiangtou Copper Bay Hydropower Development Co., Ltd., 90% in Hunan Xiangtou Qingshui Pond Hydropower Development Co., Ltd., 88% in Hunan Xinshao Xiaoxi Hydropower Development Co., Ltd., and 85% in Hunan Xiangtou Yuanling High Beach Power Generation Co., Ltd. [4][5][6]. - The total estimated transaction value for acquiring these assets is approximately 49,950.81 million RMB for Copper Bay Hydropower, 33,821.88 million RMB for Qingshui Pond Hydropower, 40,800.76 million RMB for Xiaoxi Hydropower, and 26,671.07 million RMB for Yuanling High Beach Power Generation [13][14][15][16]. Group 3: Financial Details - The company plans to issue shares at a price of 7.81 RMB per share, with 55% of the payment made through shares and 45% through cash [6][7]. - The total planned fundraising for supporting the acquisition is 80,000.00 million RMB, which will be used for cash payments, working capital, and intermediary fees [7][8]. Group 4: Regulatory Approvals - The transaction has received approval from the Hunan Provincial State-owned Assets Supervision and Administration Commission and will require further approval from the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission [8].