On January 8, Wolong Xinneng announced that Longneng Electric Power, a holding subsidiary, would sell its 100% stake in Duchang Longneng Electric Power Development Co., Ltd. The transaction price is 197 million yuan .
Wolong Xinneng said that Duchang Longneng is the company 's only subsidiary engaged in the development and operation of ground-based photovoltaic power plants , and the sale will help it concentrate its resources. We will focus on promoting the acquisition of orders for industrial and commercial distributed photovoltaic power plants , vigorously expand overseas markets, and strive to create more efficient and convenient clean energy solutions.
This transaction adopts installment payment. Within 30 days from the effective date of the agreement between the two parties , Zhejiang Longbai shall pay the transfer price of the subject equity of RMB 100,470,000 to the bank account designated by Longneng Power; Zhejiang Longbai shall pay the remaining amount of RMB96.53 million on the day before the expiration of one year from the effective date of the agreement.
The announcement shows that Longneng Power's 80 MW fishing-photovoltaic complementary photovoltaic project in Jishan Lake, Duchang County, Jiangxi Province is invested and constructed by Duchang Longneng. The total investment of the project is about 400 million yuan, and the total construction scale is 80 MW. Phase I 40MW and Phase II 40MW of the project will be put into operation in 2017 and 2020 respectively, and the project is now in normal operation.
As of the first three quarters of 2025, Duchang Longneng had total assets of RMB 361.4493 million, total liabilities of RMB 166.3505 million and net assets of RMB 195.0987 million.
It is noteworthy that the transferee, Zhejiang Longbai, is the second largest shareholder of Longneng Electric Power, accounting for 12.47% . In addition to the shares held by the actual controllers and their concerted actors, Zhejiang Longbaifang holds a total of 21.42% of Longneng Electric Power .
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