Core Viewpoint - The company, Jinkong Electric, plans to sell 51% of its wholly-owned subsidiary, Tongying Thermal Power, to Jinbei Energy for 266 million yuan to improve asset liquidity and support ongoing project financing [1][6]. Group 1: Transaction Details - The transaction involves a non-public agreement for the transfer of shares between two subsidiaries under the same parent company, Jinneng Holdings [1]. - The assessed value of Tongying Thermal Power is 521 million yuan, with a minimal increase of 0.66% over its book value [3]. - The project under Tongying Thermal Power is still in the construction phase and has not yet generated revenue [2][5]. Group 2: Financial Implications - The sale will result in a cash inflow of 266 million yuan for Jinkong Electric, but will not impact its profit or loss due to the lack of accumulated profits from Tongying Thermal Power [5][6]. - The transaction has been approved through a rigorous process, ensuring compliance with corporate governance standards [6][7]. Group 3: Strategic Rationale - The sale is part of a strategy to optimize asset structure amid the energy sector's transformation, allowing for quicker capital recovery [1][6]. - Jinbei Energy, the acquiring company, is positioned to expedite the project’s construction due to its strong financial backing [4].