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Huaihe Energy: Plans to sell 100% equity of its wholly-owned subsidiary Huai Mining Power Fuel (Huainan) Co., Ltd. for 210 million yuan
Huaihe Energy announced that to further optimize the company’s asset structure and focus on core business development, the company plans to transfer 100% equity of Huainan Mining Power Fuel (Huainan) Co., Ltd. through a private agreement to the controlling shareholder Huainan Mining, at a transfer price of 210 million yuan. This transaction constitutes an associated transaction and does not constitute a major asset reorganization. The transaction has been approved by the 21st meeting of the company’s eighth board of directors, with related directors abstaining from voting; the voting results were 3 votes in favor, 0 votes against, and 0 abstentions. The transaction is still subject to completion of payment, registration of property rights transfer, and other related procedures.