GD Power Development Co Ltd

On August 19, several A-share companies disclosed major capital operations. Nanjing Public Utilities received an indirect acquisition of a 54.19 percent stake by the Nanjing municipal state-owned assets group. Litong Electronics plans a private placement to raise no more than 5 billion yuan for building an intelligent computing center. Sieyuan Information signed a 6.45 billion yuan high-performance computing services sales contract. GD Power plans to start acquiring some assets of its controlling shareholder, China Energy Group, involving a total of about 320,000 kilowatts of controlling installed capacity in operation and 13.54 million kilowatts under construction or planned. Sinopharm Modern plans to acquire a 51 percent stake in Guorui Pharmaceutical for 406 million yuan. Minxin Micro plans to acquire a 54 percent stake in Beijing Putian Optoelectronics for 177 million yuan. In addition, Huaxin Building Materials shareholder Huaxin Group plans to increase its stake by 340 million to 680 million yuan. Hengrui Medicine plans to repurchase its A-shares for 1 billion to 2 billion yuan. On the capital side, main funds in the Shanghai and Shenzhen markets saw a net outflow of 193.964 billion yuan that day, with coke, shipping ports, and wind power equipment sectors receiving the largest net inflows from main funds.

Sieyuan Information signed two computing power service contracts with Company W, with a total tax-inclusive amount of 6.45 billion yuan, accounting for 311.11% of the company's audited revenue for 2025. The contract service period is 60 months, during which Sieyuan Information will provide high-performance computing power services to Company W. In addition, Litong Electronics plans to raise no more than 5 billion yuan through a private placement for projects including the construction of an intelligent computing center. Guodian Power plans to start acquiring part of the assets of its controlling shareholder, China Energy Group. Hengrui Pharmaceuticals plans to repurchase its A-shares with 1 billion to 2 billion yuan.

GD Power Development announced on the evening of August 19 that it plans to start work on acquiring some assets of its controlling shareholder, China Energy Investment Corporation. The assets to be acquired include equity stakes in several conventional energy power generation companies under China Energy, with total controlling installed capacity in operation of about 320,000 kilowatts, and controlling installed capacity under construction or planned for construction of 13.54 million kilowatts. GD Power Development plans to acquire with cash a 67 percent stake in Guoneng Hubei Songzi Pumped Storage Company Limited, a 100 percent stake in China Energy Anhui Energy Company Limited, a 65 percent stake in Guoneng Hengshui Thermal Power Company Limited, a 100 percent stake in Guoneng Diannan Kaiyuan Power Generation Company Limited, and a 100 percent stake in Guoneng Qinghai Delingha Coal Power Company Limited. Its controlling subsidiary, Guoneng Dadu River Basin Hydropower Development Company Limited, plans to acquire with cash a 51 percent stake in China Energy Jinsha River Benzilan Hydropower Company Limited and a 51 percent stake in China Energy Jinsha River Xulong Hydropower Company Limited. GD Power Development said the transaction is being planned to fulfill the commitment to avoid horizontal competition issued by China Energy in March 2018, and to further reduce and resolve horizontal competition issues with China Energy. As of the close of trading on August 19, GD Power Development's share price was 5.13 yuan per share, up 1.99 percent, with a total market value of 91.5 billion yuan.

Guodian Power announced that in the first half of 2026, the company's consolidated power generation reached 218.911 billion kilowatt-hours, with on-grid electricity of 207.875 billion kilowatt-hours, representing year-on-year increases of 6.25% and 6.17% respectively. Market-based trading electricity accounted for 94.2% of on-grid electricity, with an average on-grid tariff of 393.31 yuan per thousand kilowatt-hours. In the second quarter, the company generated 112.927 billion kilowatt-hours of electricity, with on-grid electricity of 107.449 billion kilowatt-hours, up 6.73% and 6.53% year-on-year respectively. Market-based trading electricity accounted for 93.4%, and the average on-grid tariff was 391.28 yuan per thousand kilowatt-hours.

Guodian Power announced that China Energy has designated the company as its integration platform for conventional energy generation businesses, continuously injecting thermal and hydropower assets to strengthen supply security foundations and accelerate green and low-carbon transformation. China Energy will continue to fulfill its capital market commitments, reduce and resolve horizontal competition, improve long-term mechanisms for resolving horizontal competition, and steadily advance the integration and injection of conventional energy generation assets.