Guizhou Gas(SH:600903) Shang Hai Zheng Quan Bao·2025-10-20 19:22Core Viewpoint - Guizhou Gas Group Co., Ltd. has approved the establishment of a wholly-owned subsidiary, Guizhou Gas Group Guiyang Gas Co., Ltd., and the transfer of assets totaling 2.786 billion yuan, with liabilities of 1.943 billion yuan, resulting in a net asset value of 843 million yuan [3][10][12]. Meeting Details - The fourth board meeting of Guizhou Gas was held on October 20, 2025, with all nine directors present, confirming the legality and validity of the meeting [2][4]. Approval of Proposals - The board approved the establishment of the new subsidiary with an investment of 300 million yuan and the asset transfer, which includes a total asset transfer of 2.786 billion yuan and a total liability of 1.943 billion yuan, effective from June 30, 2025 [3][10][12]. - The board also authorized the management to handle all related procedures for the establishment and asset transfer [5][6]. Company Establishment Details - The new subsidiary will be named Guizhou Gas Group Guiyang Gas Co., Ltd., with a registered capital of 300 million yuan, and will operate within the framework of the Guiyang Urban Pipeline Gas Franchise Agreement [11][12]. Asset Transfer Specifics - The asset transfer will include a total of 2.786 billion yuan in assets and 1.943 billion yuan in liabilities, with adjustments made based on changes occurring between the transfer base date and the actual transfer date [10][13]. - The transfer will not affect the consolidated financial statements of Guizhou Gas, and it does not constitute a major asset restructuring or related party transaction [10][18]. Impact on Company - The asset transfer is expected to enhance operational efficiency, optimize governance, and improve market competitiveness, aligning with the company's long-term strategic goals [18].