Core Viewpoint - China General Nuclear Power Corporation (CGN) plans to acquire 82% stake in Huizhou Nuclear Power Co., Ltd., 100% stake in Huizhou Second Nuclear Power Co., Ltd., 100% stake in Huizhou Third Nuclear Power Co., Ltd., and 100% stake in Zhanjiang Nuclear Power Co., Ltd. from its controlling shareholder, China General Nuclear Group Co., Ltd. The transaction price is set at 9.375 billion yuan [1]. Group 1 - The acquisition includes stakes in nuclear power projects that are currently under construction and in the preparatory phase [1]. - Huizhou Nuclear Power and Huizhou Second Nuclear Power are involved in ongoing construction projects, while Huizhou Third Nuclear Power is in the pre-approval stage [1]. - Zhanjiang Nuclear Power is engaged in the development of nuclear power projects [1]. Group 2 - The transaction is part of CGN's commitment to avoid competition with its controlling shareholder by transferring these nuclear power assets [1].

Core Viewpoint - The report outlines the commitment fulfillment status of the controlling shareholder of Beijing Aeronautical Materials Research Institute Co., Ltd. regarding the establishment and management of a joint venture focused on titanium alloy precision casting, emphasizing compliance with relevant regulations and the ongoing processes for equity transfer [1][2][4]. Commitment Details and Timeline - The joint venture, Jiangsu Da Lu Aviation Industry Development Co., Ltd., was established to enhance the self-sufficiency of key components for aircraft engines and increase production capacity in titanium alloy precision casting. The agreement stipulates that within 24 months of the joint venture's establishment, 77% of its shares will be transferred to the controlling shareholder, Aeronautical Materials Research Institute, pending approval from higher authorities [1][2]. Commitment Fulfillment Status - Since making the commitment, the controlling shareholder has adhered strictly to the agreement, actively advancing the necessary procedures for the equity transfer. The relevant approvals from the State-owned Assets Supervision and Administration Commission have been obtained, and the shareholder has proposed the equity transfer to the company [2][3]. Ongoing Processes - The asset evaluation for the joint venture has been completed and is undergoing the public announcement process. The controlling shareholder will follow the required procedures for state-owned asset transactions once the evaluation report is approved by the relevant supervisory authority [3][4].

Group 1 - The establishment of Jiangsu Titanium Alloy Precision Casting Co., Ltd. aims to enhance the self-sufficiency of key components for aviation engines and increase the production capacity of titanium alloy precision casting [1] - The agreement between the company and the Jiangsu Economic Development Zone Management Committee includes a commitment to transfer 77% of the shares of Jiangsu Titanium Alloy to the company within 24 months after its establishment, pending approval from higher authorities [1] - The company has been managing Jiangsu Titanium Alloy since December 2021 under a management agreement, ensuring that it acts in the best interest of the company while avoiding any competition [2] Group 2 - As of June 3, 2024, the company obtained 77% control of Jiangsu Titanium Alloy after receiving necessary approvals from relevant government bodies [2] - The asset evaluation for the share transfer has been completed and is awaiting the issuance of an evaluation report from the state-owned asset supervision authority to proceed with the transfer [3] - The company is in compliance with national asset supervision and securities regulations, indicating no substantial obstacles to the share transfer process [3]