Securities Code: 001289
Securities Abbreviation: Longyuan Power
Announcement No.: 2026-036
Longyuan Power Group Co., Ltd.
Announcement on the Acquisition of Guoneng Badanjilin (Gansu) Energy Development Investment Co., Ltd. Equity and Related Party Transaction
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or major omissions.
I. Overview of Related Party Transactions
(I) Basic Situation of Related Party Transactions
Longyuan Power Group Co., Ltd. (hereinafter referred to as the "Company") intends to acquire 49% of the equity of Guoneng Badanjilin (Gansu) Energy Development Investment Co., Ltd. (hereinafter referred to as "Badanjilin Company" or the "Target Company") held by National Energy Investment Group Co., Ltd. (hereinafter referred to as "National Energy Group"). The Company's Board of Directors has deliberated and approved the acquisition of the Target Equity through a non-public agreement transfer at a price of RMB 24.6317 million. Upon completion of the acquisition, Badanjilin Company will become a wholly-owned subsidiary of the Company.
(II) Overview of Related Party Relationship
As of the disclosure date of this announcement, National Energy Group is the controlling shareholder of the Company. In accordance with the "Shenzhen Stock Exchange Stock Listing Rules," "The Stock Exchange of Hong Kong Limited Securities Listing Rules," and other regulations, National Energy Group is a related legal person of the Company, and this transaction constitutes a related party transaction.
(III) Approval Process for this Related Party Transaction
The Company held the Second Meeting of the Second Session of the Sixth Board of Directors of 2026 on June 26, 2026, and the Special Meeting of Independent Directors of 2026 on June 26, 2026. The proposal "Proposal on the Acquisition of Equity of Guoneng Badanjilin (Gansu) Energy Development Investment Co., Ltd." was deliberated and approved with 3 votes in favor, 0 votes against, and 0 abstentions, and it was agreed to submit this proposal to the Board of Directors for deliberation.
The Company held the Third Meeting of the Second Session of the Sixth Board of Directors of 2026 on June 26, 2026. The proposal "Proposal on the Acquisition of Equity of Guoneng Badanjilin (Gansu) Energy Development Investment Co., Ltd." was deliberated and approved with 7 votes in favor, 0 votes against, 0 abstentions, and 2 abstentions. As this transaction constitutes a related party transaction, non-executive directors Ms. Wang Xuellian and Mr. Zhang Tong abstained from voting.
In accordance with the "Company Law of the People's Republic of China," the "Shenzhen Stock Exchange Stock Listing Rules," the "The Stock Exchange of Hong Kong Limited Securities Listing Rules," and the "Articles of Association of Longyuan Power Group Co., Ltd.," this related party transaction does not require submission to the Company's shareholders' meeting for deliberation.
This transaction does not constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies," nor does it constitute a restructuring of listing.
II. Basic Information of Related Parties
- Basic Information