Group 1 - The company held its 27th meeting of the 7th Board of Directors on September 12, 2025, with all 7 directors present, and the meeting was chaired by the Chairwoman Feng Junjie [2] - The Board approved a proposal to continue issuing REITs products based on the assets of Liangcun Thermal Power, with a vote of 7 in favor, 0 against, and 0 abstentions [3][8] - The proposal was discussed and recommended by the Strategic Investment Committee prior to the meeting, and the suggestions were adopted by the Board [4] Group 2 - The company plans to issue a new REITs product based on Liangcun Thermal Power, with an expected issuance scale of no more than 1.74 billion yuan, following the previous issuance of 1.77 billion yuan in November 2022 [8] - The transaction does not require shareholder approval and does not constitute a related party transaction or a major asset restructuring as per relevant regulations [8] - The project involves a transfer of LP1 shares between two trust management companies and is currently undergoing regulatory approval [10] Group 3 - The target entity for the transaction is Dongfang Xinseng (Hebei) Energy Partnership, with a registered capital of 2.35558 billion yuan and total assets of 2.354 billion yuan as of April 30, 2025 [11][12] - The partnership has no liabilities and reported a net profit of 18.29 million yuan for the first four months of 2025 [12] - The valuation of the partnership's net assets was assessed at 2.38026 billion yuan, reflecting an increase of 26.48 million yuan, or 1.12% [14] Group 4 - The purpose of the transaction is to maintain the original equity financing channel and avoid adverse impacts on the company's asset-liability ratio due to debt financing [14] - After the transaction, the company will retain control over the project and continue to consolidate Liangcun Thermal Power in its financial statements [14] - The implementation of the REITs product will not adversely affect the interests of the company or its shareholders [14]