Over 1 billion yuan! GCL New Energy Sells Shares in 36 Companies

2023-10-13 09:24:24

Suzhou Xinkunneng acquired all the shares of 36 target companies of Xiexin New Energy for 1.04 billion yuan.

GCL announced in the evening of October 12 that its holding subsidiary, Suzhou Industrial Park Xinkunneng Clean Energy Co., Ltd. (Hereinafter referred to as "Suzhou Xinkunneng"), intends to acquire all the shares of 36 target companies held by 13 subsidiaries of GCL New Energy Holding Co., Ltd. (Hereinafter referred to as "GCL New Energy") with self-raised funds in cash. After the completion of this transaction, it will actually acquire the 583.87 MW photovoltaic power generation project of Xiexin New Energy.

The announcement shows that after evaluation, the total value of the shareholders'equity of 36 target companies is 1.182 billion yuan, and the total transfer price of the target equity of this transaction is 1.094 billion yuan, and the actual transfer consideration after deducting the deficiency is 1.04 billion yuan.

Xiexin Nengke said that the transaction is a prudent decision made by the company from the long-term interests and future development needs, which is conducive to expanding the company's asset size and installed capacity, enhancing the company's comprehensive strength, and in line with the overall interests of listed companies. This transaction will not adversely affect the company's operating conditions and finance, nor will it damage the interests of the company and all shareholders. According to the semi-annual report of

2023, as of June 30 this year, the installed capacity of Xiexin Nengke Clean Energy accounted for 91%, with a total installed capacity of 2.903 million kilowatts. In addition, GCL Nengke's market-oriented trading service has reached 9.36 billion kWh, and the scale of electricity sales and the construction of virtual power plant platform are in the forefront of China, and a number of carbon neutral demonstration projects have been put into operation.

Xiexin New Energy is an enterprise under Xiexin Group engaged in the development, construction, operation and management of photovoltaic power plants. The company announced that the proceeds from the transfer of the power plant are intended to be used to repay debts and support investments in natural gas, liquefied natural gas and operations and management services. For details of

the acquisition, please refer to the attachment: "GCL Nengke: Announcement on the Acquisition of Equity Interests in Subsidiaries of GCL New Energy Holdings Limited and Related Transaction".

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Correlation

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