PJRC(SH:600395) Shang Hai Zheng Quan Bao·2025-11-24 18:39Core Viewpoint - The company plans to increase its investment in its wholly-owned subsidiary, Panjiang (Puding) Power Co., Ltd., by 1.334 billion yuan to support the construction of the Guizhou Energy Puding Power Plant project, which has a total investment of 6.66994 billion yuan [4][10]. Group 1: Investment Overview - The investment amount is set at 1.334 billion yuan [3]. - The investment will be used for the construction of the Guizhou Energy Puding Power Plant project, which includes the procurement of main equipment, engineering costs, land acquisition, and other expenses [11]. - The project aims to build two 660MW high-efficiency supercritical coal-fired generating units and is expected to take 25 months to complete [8]. Group 2: Company and Subsidiary Information - Panjiang (Puding) Power Co., Ltd. was established on April 29, 2022, with a registered capital of 1 billion yuan [6]. - As of June 30, 2025, the subsidiary has total assets of approximately 5.7029584 billion yuan, total liabilities of about 4.7056733 billion yuan, and a net asset value of approximately 997.2851 million yuan, resulting in a debt-to-asset ratio of 82.51% [7]. - The company holds 100% equity in Panjiang (Puding) Power Co., Ltd. [6][10]. Group 3: Decision-Making Process - The investment decision was approved during the 11th temporary meeting of the company's 7th board of directors, held on November 24, 2025, with unanimous support from all participating directors [5][16]. - The investment does not require shareholder approval as it falls within the board's authority [5][12]. Group 4: Impact on the Company - The investment represents 12.80% of the company's most recent audited net assets and will be funded from the company's own funds [12]. - This investment aligns with the company's strategic goals of structural adjustment, green transformation, and high-quality development, contributing to regional economic growth and energy supply security [12].