TapTechNews October 2nd news, the State Power Investment Corporation Limited (hereinafter referred to as SPIC by TapTechNews) is preparing to inject its nuclear power assets into Electricity Investment and Financing for backdoor listing. If all goes well, the three giants in China's nuclear power industry will gather in the A-share market (China National Nuclear Corporation and China General Nuclear Power Corporation have already packaged and listed their nuclear power assets).
On September 30th, Electricity Investment and Financing released an announcement, receiving the Notice on Planning Major Asset Restructuring Matters from the controlling shareholder and actual controller, SPIC Group, intending to purchase the controlling equity of State Power Investment Nuclear Energy Co., Ltd. through the issuance of shares by the company, while disposing of the controlling equity of SPIC Capital Holding Co., Ltd., and will raise matching funds as the specific situation requires.
Electricity Investment and Financing stated that this transaction is expected to constitute a major asset restructuring and affiliated transaction, but does not involve a change in the actual controller. The specific plan is still under further discussion. The company's stock has been suspended since September 30th and is expected to disclose the transaction plan within no more than 10 trading days (that is, before October 21st).
SPIC was established through the reorganization of China Power Investment Corporation and State Nuclear Power Technology Corporation in May 2015. TapTechNews found that the main business of SPIC covers two major fields of energy and finance. The energy sector involves cogeneration, new energy and other businesses, mainly engaged in the investment, operation and management of power stations. The financial sector mainly includes trust, insurance brokerage, futures and other businesses. As of the end of June this year, the company's total assets were 46.144 billion US dollars.
Electricity Investment and Financing is a dual-main-business listed company under the SPIC Group, and its wholly-owned subsidiaries, Oriental Green Energy (Hebei) Co., Ltd. (Oriental Green Energy) and Electricity Investment Capital Holding, are the management entities of the energy business and financial business respectively. In the first half of this year, Oriental Green Energy had total assets of 18.06 billion US dollars, total revenue of 2.2 billion US dollars, and net profit of 376 million US dollars.
As the nuclear energy investment and operation management platform of SPIC, State Power Investment Nuclear Energy Co., Ltd. is mainly responsible for the investment, production and operation, nuclear safety, nuclear emergency and other business management of SPIC's domestic and foreign nuclear power plants. As of June 2024, the company's total assets exceed 100 billion US dollars, and its participating and controlled nuclear power projects include Sanmen Nuclear Power, Hongyanhe Nuclear Power, Haiyang Nuclear Power, and Laiyang Nuclear Power projects.