Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-20 02:12Core Viewpoint - The announcement details the establishment of a joint venture between Dongfang Electric Wind Power Co., Ltd. and Anhui Wan Energy Trading Co., Ltd., aimed at enhancing operational capabilities in the wind power sector through strategic collaboration [2][5]. Summary by Sections 1. Investment Overview - Dongfang Electric's subsidiary, Dongfang Electric Wind Power, will hold a 49% stake in the joint venture, while Anhui Wan Energy will hold 51%. The registered capital of the joint venture is approximately 1.85683 billion yuan [2][5]. - Dongfang Electric Wind Power is contributing 100% equity of Muli Dongji New Energy Co., Ltd., valued at approximately 909.85 million yuan based on an asset appraisal report dated June 30, 2025 [2][5][9]. - Anhui Wan Energy will contribute approximately 946.98 million yuan in cash [2][5]. 2. Approval Process - The investment was approved during the 15th meeting of the 11th Board of Directors on November 19, 2025, with unanimous support (7 votes in favor) [6][21]. 3. Joint Venture Details - The joint venture will not be classified as a related party transaction or a major asset restructuring [3][6]. - After the investment, Muli Dongji will no longer be included in Dongfang Electric's consolidated financial statements [4][16]. 4. Strategic Implications - The partnership aims to respond to national "dual carbon" strategies, optimize state capital layout, and enhance resource sharing and risk management [16]. - The investment aligns with the company's operational status and long-term development goals, ensuring no harm to the interests of all shareholders, particularly minority shareholders [16].