Jin Rui Provides Comprehensive Legal Services for Huadian International's New Energy Asset Restructuring

On May 24, 2021, Huadian Power International Corporation Limited (hereinafter referred to as "Huadian International"), Huadian Fuxin Energy Development Co., Ltd. (hereinafter referred to as "Fuxin Development") and Huadian Fuxin Energy Co., Ltd. came to Capital Increase and Share Expansion Agreement, which proposed to subscribe for 37.19% of Fuxin Development's equity with a total of approximately 21.237 billion yuan in new energy company equity and cash contributions, and sold its indirectly held equity and assets in related new energy companies to Fuxin Development at a price of approximately 2.082 billion yuan. On June 30, 2021, the Huadian International General Meeting of Shareholders reviewed and approved the above transaction plan, and completed the asset delivery and other related work simultaneously. The wind and photovoltaic assets with a total installed capacity of about 8 million kilowatts were successfully injected into Fuxin Development, and the new energy restructuring work was basically completed.   Entrusted by Huadian International, Jin Rui provided comprehensive legal services for restructuring new energy assets. As the leading firm for this new energy asset restructuring, Jin Rui Law Offices has participated in many important negotiations on the subscription matters, and is responsible for legal due diligence, preparation, review and revision of relevant legal documents, A-share market disclosure, and communicated with the Shanghai Stock Exchange on related matters about connected transactions. Jin Rui lawyers are highly praised by clients for serious, professional, dedicated and efficient work attitude and work ability.   Huadian International, as the final integration platform of Huadian Group's conventional energy power generation assets and the core enterprise for the development of conventional energy power generation business, the future development goal is to become a clean energy listed company with global layout and active expansion on new industries and new formats. Through equity control, Huadian International constructs and combines with the expansion of conventional energy, improves the regional structure of assets, relies on hydropower and gas power to substantially increase the proportion of clean energy installed capacity; takes a large proportion of shares in new energy professional platforms to rapidly promote the development of new energy, expands international business and initiates international clean power generation business via establishment and M&A; actively cultivates new growth points such as comprehensive energy services and auxiliary services, and plays basic and auxiliary functions in the new power system.   This new energy asset transaction not only provides Huadian International with a new profit growth point, but also can further increase the equity installed capacity of new energy by taking a large proportion equity of Huadian Group's only new energy development and integration platform. In addition, the Fuxin Development management team has rich and professional experience in project selection, construction, operation management, etc., which is also conducive to Huadian International's realization of resource integration, policy pursuit and potential exploration, thereby better improving the management efficiency and profitability level of new energy business.