Core Viewpoint - Shanghai Electric has terminated its plan to acquire 66.4% of K-Electric Limited in Pakistan, a deal that had been in planning for over nine years, and announced a new investment of 6 billion yuan in construction projects [2][5]. Group 1: Termination of Acquisition - The company announced the termination of the acquisition of 18.336 billion shares of K-Electric, which was originally valued at 1.77 billion USD [2][5]. - The decision was made due 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 [5][6]. - The termination of the acquisition is not expected to have a significant impact on the company's operations or financial status [6]. Group 2: New Investment Projects - Shanghai Electric has approved investments in two new projects: the Fengxian No. 1 offshore photovoltaic project and a 400,000 kW wind power project in Mudanjiang, Heilongjiang, with total investments not exceeding 3.78 billion yuan and 2.26 billion yuan, respectively [7][8]. - The Fengxian No. 1 offshore photovoltaic project will have a capacity of 500,000 kW and is part of Shanghai's first batch of offshore photovoltaic pilot projects [8]. - The company aims to finance these projects with 20% equity and the remaining 80% through loans [8].
600021，终止重大重组！同时宣布大消息