中国能源报·2025-11-16 12:30Core Viewpoint - Longyuan Power Group Co., Ltd. announced the transfer of its entire 30% stake in United Power to State Energy Group New Energy Co., Ltd. for 1 yuan due to United Power's long-term losses, with the company's net assets reported at -7.137 billion yuan as of September 2025 [1][6][40]. Group 1: Announcement Details - Longyuan Power has recorded a complete impairment of its investment in United Power in 2023 due to ongoing losses [1]. - The transfer of shares will be executed through a non-public agreement, with both Longyuan Power and another shareholder, Guoneng (Beijing) Electric Technology Co., Ltd., each transferring 30% of their stakes for 1 yuan [1][5]. - The board of directors approved the transfer unanimously, with no objections or abstentions [7][8]. Group 2: Financial Performance of United Power - As of September 2025, United Power reported net assets of -7.137 billion yuan and a net profit of -574 million yuan for the first nine months of 2025 [1][23]. - The company's total assets were reported at 85.958 billion yuan, with total liabilities of 157.329 billion yuan as of September 2025 [23]. Group 3: Related Party Transactions - Both State Energy Group New Energy and Guoneng Electric are controlled by the same parent company, State Energy Investment Group, making this transaction a related party transaction [6]. - The total amount of related party transactions between Longyuan Power and State Energy Group from January 1 to October 31, 2025, was 2.564 billion yuan [41]. Group 4: Transaction Purpose and Impact - The purpose of the transaction is to divest from United Power, which will no longer be part of Longyuan Power's consolidated financial statements post-transaction [40]. - The transfer price of 1 yuan is expected to have no significant impact on the company's current profits, as the book value of the long-term equity investment in United Power was recorded as zero [40].