Group 1 - Xinjiang Zhenjiang Yingzhen New Energy Co., Ltd. has been established with a registered capital of 10 million yuan [1] - The legal representative of the company is Chen Jinwan [1] - The business scope includes sales of wind power equipment, research and development of wind power systems, and technical services for wind and solar power generation [1] Group 2 - The company is jointly held by Jiangsu Yingzhen Electric Power Industry Co., Ltd. and Liaoning Zheneng Technology Co., Ltd., a wholly-owned subsidiary of Zhenjiang Co., Ltd. (stock code: 603507) [1]

Core Viewpoint - Victory Pipeline (01080.HK) plans to sell 98% equity held by Shandong Victory in a target company through a public bidding process at Shanghai United Assets and Equity Exchange, with a minimum bid price set at RMB 29.5 million [1] Group 1: Company Overview - The target company, Zhejiang Victory Industrial Co., Ltd., is a limited company registered in China and is a subsidiary of the company, with 98% equity owned by Shandong Victory Steel Pipe Co., Ltd. [1] - Shandong Victory is an indirectly wholly-owned subsidiary of the company, also registered in China [1] Group 2: Asset Details - The target company has no operational business, and its core asset is a non-listed equity investment, specifically a 19.95% stake in Xinfeng Energy Group Co., Ltd. [1] - This investment is classified as a financial asset measured at fair value through other comprehensive income [1] Group 3: Industry Context - Xinfeng Energy is a limited company established in China, primarily engaged in the manufacturing and sales of new energy power equipment, sales of wind farm-related equipment, wind power technology services, and research and development of emerging energy technologies [1]

Overview - Shenzhen Baoying Construction Holding Group Co., Ltd. plans to publicly transfer 50.10% equity stake in Danhua Renewable (Zhuhai) New Energy Technology Co., Ltd. through Guangdong United Property Exchange to optimize resource allocation [1][2] - The transfer is subject to necessary approval procedures, and details regarding the transaction counterpart and price are yet to be determined [1][2] Transfer Target Basic Information - Danhua Renewable focuses on technology research and development in resource recycling, wind power systems, solar thermal utilization equipment sales, and environmental protection equipment sales [2] - As of March 31, 2025, Danhua Renewable reported total assets of 9.5773 million yuan and a net asset of -978,400 yuan, with no revenue generated in the first quarter of 2025 [2] Financial Audit and Asset Evaluation - The company has engaged accounting and asset evaluation firms to conduct financial audits and asset evaluations for Danhua Renewable, with the process currently underway [3] Impact of the Equity Transfer - Danhua Renewable is still in its initial phase and has not generated significant revenue, thus not impacting the company's overall operational status [3] - If the transfer is completed, the company will no longer hold equity in Danhua Renewable, allowing it to focus on core business development, aligning with its strategic goals [3]