Another IPO terminated! Termination of listing of Xinhua Hydropower

On July 3, the official website of the Shanghai Stock Exchange reported that Xinjiang Xinhua Hydropower Investment Co., Ltd. (Hereinafter referred to as Xinhua Hydropower) had withdrawn its application for listing, and the Shanghai Stock Exchange terminated its listing review in accordance with relevant regulations. On March 3

this year, Xinhua Hydropower submitted its first IPO application to the Shanghai Stock Exchange, which conducted a listing inquiry on March 16 in accordance with relevant regulations.

The company intends to raise 1.3 billion yuan for the construction of Henan Wuyue Pumped Storage Power Station, the construction of Xinjiang Yarkant River Altash Water Conservancy Project and the repayment of bank loans. According to

the data, Xinhua Power Generation is the main body of strategic implementation of hydropower and new energy business under China Nuclear Group. The company's main business is hydropower, and its main product is electricity. Its business is distributed in Kashgar, Hotan, Aksu, Bazhou, Altay and other prefectures in Xinjiang, as well as in Ningxia, Hunan, Henan and other regions outside Xinjiang. As of June 30, 2022, the Company has 17 hydropower stations in full operation and 2 hydropower stations under construction, one of which has been partially put into operation. The total installed capacity of the Issuer in operation is 2.2579 million kilowatts, and the installed capacity under construction is 1.18 million kilowatts.

From 2019 to 2021, the revenue of the Company will be RMB1.448 billion, RMB1.474 billion and RMB1.348 billion respectively; the net profit will be RMB224 million, RMB258 million and RMB240 million respectively; and the net profit after deduction of non-profits will be RMB170 million, RMB154 million and RMB185 million respectively. From January to June 2022, the revenue was 854 million yuan, and the net profit attributable to the parent company was 116 million yuan.