TIDMCYPC
RNS Number : 5800X
China Yangtze Power Co. Ltd.
26 April 2023
China Yangtze Power Co., Ltd.
Announcement on Issue Results and Shares Changes for Purchasing
Assets and Raising Subscription Funds by Issuing Shares and Paying
Cash, as well as the Related Party Transaction
The board of directors and all directors of China Yangtze Power
Co., Ltd. (the "Company") warrant that there are no false
representations and misleading statements contained in, or material
omissions from, this announcement, and severally and jointly accept
the responsibility for the truthfulness, accuracy, and completeness
of the contents of this announcement.
Important note:
l Number of issues and offering price :
Class of shares: RMB ordinary stock (A shares)
Number of shares issued: 804,436,061
Offering price: RMB 20.01 per share
l Issue targets and lock-up periods
Number Issuing entity Number of Allocated Lock-up
shares allocated amount (RMB) period
(shares) (months)
---------------------------- ------------------ ------------------ ----------
China Merchants Securities
1 Co. Ltd 67,366,316 1,347,999,983.16 6
------- ---------------------------- ------------------ ------------------ ----------
Guotai Junan Securities
2 Co. Ltd 62,068,965 1,241,999,989.65 6
------- ---------------------------- ------------------ ------------------ ----------
J.P. Morgan Securities
3 plc 56,721,639 1,134,999,996.39 6
------- ---------------------------- ------------------ ------------------ ----------
4 Goldman Sachs International 53,523,238 1,070,999,992.38 6
------- ---------------------------- ------------------ ------------------ ----------
5 GIC Private Limited 51,624,187 1,032,999,981.87 6
------- ---------------------------- ------------------ ------------------ ----------
China Life Asset
6 Management Co., Ltd. 49,975,012 999,999,990.12 6
------- ---------------------------- ------------------ ------------------ ----------
Ruiyuan Fund Management
7 Co., Ltd. 49,975,012 999,999,990.12 6
------- ---------------------------- ------------------ ------------------ ----------
China State-Owned
Enterprise Restructuring
Fund Co., Ltd. Phase
8 II 49,975,012 999,999,990.12 6
------- ---------------------------- ------------------ ------------------ ----------
Zhejiang Energy Equity
Investment Fund Management
Co., Ltd. - Zhejiang
Zheneng Green Energy
Equity Investment
Fund Partnership
9 (Limited Partnership) 49,475,262 989,999,992.62 6
------- ---------------------------- ------------------ ------------------ ----------
Gaoguan Investment
10 Co., Ltd. 44,977,511 899,999,995.11 6
------- ---------------------------- ------------------ ------------------ ----------
Shanghai Dingwei
New Energy Private
Equity Investment
Fund Partnership
11 (Limited Partnership) 39,980,009 799,999,980.09 6
------- ---------------------------- ------------------ ------------------ ----------
Golden Eagle Asset
12 Management Co., Ltd. 37,481,259 749,999,992.59 6
------- ---------------------------- ------------------ ------------------ ----------
JP Morgan Chase Bank,
13 National Association 34,382,808 687,999,988.08 6
------- ---------------------------- ------------------ ------------------ ----------
Shenwan Hongyuan
14 Securities Co., Ltd. 28,485,757 569,999,997.57 6
------- ---------------------------- ------------------ ------------------ ----------
Caitong Fund Management
15 Co., Ltd. 27,086,456 541,999,984.56 6
------- ---------------------------- ------------------ ------------------ ----------
The Hongkong and
Shanghai Banking
16 Corporation Limited 25,875,350 517,765,753.50 6
------- ---------------------------- ------------------ ------------------ ----------
China Re Asset Management
17 Co., Ltd 25,487,256 509,999,992.56 6
------- ---------------------------- ------------------ ------------------ ----------
Guangfa Securities
18 Co., Ltd. 24,987,506 499,999,995.06 6
------- ---------------------------- ------------------ ------------------ ----------
Huaneng Guicheng
19 Trust Co., Ltd. 24,987,506 499,999,995.06 6
------- ---------------------------- ------------------ ------------------ ----------
Total 804,436,061 16,096,765,580.61 -
------------------------------------- ------------------ ------------------ ----------
l Expected Listing Date
The offline registration of the additional shares for the issue
of shares to raise subscription funds was completed on 24 April
2023 at the Shanghai Branch of China Securities Depository and
Clearing Corporation Limited.
The additional shares are expected to be listed and traded on
the Shanghai Stock Exchange on the first trading day following the
expiration of the lock-up period (if the expected listing date
falls on a statutory holiday or rest day, it will be postponed to
the first trading day thereafter). The lock-up period will commence
from the completion date of the share issuance. After the lock-up
period, the transfer of the subscribed shares by the issuing
entities shall be carried out in accordance with relevant laws,
regulations, and rules of the China Securities Regulatory
Commission and the Shanghai Stock Exchange.
Upon completion of the Issue, the shareholding distribution of
the Company complies with the listing conditions stipulated in the
Shanghai Stock Exchange Listing Rules.
l Asset Transfer Status
All shares issued in this offering are subscribed with cash and
do not involve any asset transfer.
Unless otherwise specified, the definitions in this announcement
are consistent with those disclosed in the "China Yangtze Power
Co., Ltd. Issuance of Shares and Payment of Cash for Asset
Acquisition and Fundraising and Related Transactions Disclosure
Document" disclosed on the website of the Shanghai Stock Exchange
(www.sse.com.cn). (China Yangtze Power Co., Ltd hereinafter
referred to as the "Company", "Listed Company", "CYPC")
I. Overview
(I) Relevant procedures performed for this Transaction
1. Decision-making and approval by the Company
On 10 December 2021, the 30th meeting of the Fifth Session of
the Board of Directors of China Yangtze Power Co., Ltd. was held to
consider and approve the "Proposal and summary on protocols for the
Issue of Shares and Payment of Cash to Purchase Assets and Raise
Subscription Funds and Connected Transaction by China Yangtze Power
Co., Ltd. " and other proposals relating to the transaction.
On 30 June 2022, the Eighth Meeting of the Sixth Session of the
Board of Directors of China Yangtze Power Co., Ltd. was held to
consider and approve the " Proposal and summary on the Report
(draft) of the Issue of Shares and Payment of Cash to Purchase
Assets and Raise Subscription Funds and Connected Transaction by
China Yangtze Power Co., Ltd.", and other proposals relating to the
transaction.
On 20 July 2022, the Second Extraordinary General Meeting of
China Yangtze Power Co., Ltd. was held, at which the monition of
Issuing Shares and Paying Cash to Purchase Assets and Raise
Subscription Funds and Connected Transaction and other proposals
relating to the transaction were considered and approved.
On 16 March 2023, the 15th meeting of the Sixth Session of the
Board of Directors of China Yangtze Power Co., Ltd. was held to
consider and approve the "Proposal on the Authorization of the
Company to Raise Subscription Funds through the Issuing Shares and
other Connected Transaction and other proposals related to the
transaction.
2. Decision-making and Approval of Counterparty
China Three Gorges Corporation, China Three Gorges Investment
Management Co., Ltd., Yunnan Provincial Energy Investment Group
Co., Ltd., and Sichuan Energy Investment Group Co., Ltd. have
completed their internal decision-making procedures and agreed in
principle to the relevant proposal for this transaction.
3. Appraisal filings and approvals from SASAC
On 22 June 2022, the State-owned Assets Supervision and
Administration Commission of the State Council issued a State-owned
Assets Appraisal Project Filing Form (filing number:
0006GZWB2022006), to record the evaluation results of the subject
assets identified in the Appraisal Report.
On 19 July 2022, the State-owned Assets Supervision and
Administration Commission of the State Council issued the Approval
on Matters Relating to the Asset Restructuring and Supporting
Financing of China Yangtze Power Co., Ltd (State-owned Assets
Property Rights [2022] No. 328), which agreed in principle to the
transaction.
4. Approval from CSRC
On 26 October 2022, the M&A and Restructuring Review
Committee of Listed Companies of China Securities Regulatory
Commission held the 16th M&A and Restructuring Committee
Working Meeting in 2022 to review the issue of shares and payment
of cash to purchase assets and raise matching funds and connected
transactions of China Yangtze Power Co., Ltd. According to the
results of the meeting, the transaction was unconditionally
approved.
On 14 November 2022, China Yangtze Power Co., Ltd has received
the Reply on Approving the Application of China Yangtze Power Co.,
Ltd to Purchase Assets and Raise Supporting Funds from China
Yangtze River Three Gorges Group Company Limited and Other
subsidiaries (CSRC Permit No. [2022] 2740), and the transaction has
been approved by the CSRC.
(II) Status of this issue
1. Type, par value and place of listing of shares to be
issued
The shares offered in this transaction to specific targets for
raising matching funds are RMB ordinary shares (A shares) listed
domestically, with a face value of RMB 1.00 per share and listed on
the Shanghai Stock Exchange.
2. Pricing base date, pricing principles and issue price
The shares offered to specific targets in this transaction were
priced through a competitive bidding process, with the pricing date
being the first day of the offering period, i.e., March 27, 2023.
The offering price was set at no less than 80% of the average
trading price of the company's shares for the 20 trading days prior
to the pricing date (excluding the pricing date). Specifically, the
average trading price for the 20 trading days prior to the pricing
date was calculated as the total trading volume divided by the
total trading value for the same period. If the company's shares
underwent price adjustments due to dividend payments, bonus issues,
capital reserve increases, or other corporate actions during the 20
trading days, the prices for the adjusted trading days were used
for the calculation. Accordingly, the offering price was set at RMB
16.87 per share.
Beijing Zhong Lun Law Firm has witnessed the entire process of
investor subscription invitations and bid submissions for this
offering. The issuer and the joint lead underwriters, CITIC
Securities Company Limited, Huatai United Securities Co., Ltd.,
China International Capital Corporation Limited and Changjiang
Financing Service Co., Limited (hereinafter collectively referred
to as the "Joint Lead Underwriters"), determined the offering price
of RMB 20.01 per share based on the investor bid submissions and in
strict accordance with the procedures and rules set forth in the
Invitation to Subscribe to Shares by Specific Targets for Raising
Matching Funds in the Issuance of Shares and Payment of Cash to
Purchase Assets and Raising Matching Funds for Related Transactions
by China Yangtze Power Co., Ltd. (hereinafter referred to as the
"Invitation Document"). The ratio of the offering price to the
floor price was 118.61%.
3. Number and Scale of Issuance
According to the Issuance of Shares and Payment of Cash by China
Yangtze Power Co., Ltd to Purchase Assets and Raise Supporting
Funds and Related Party Transactions to Specific Objects Issuance
and Underwriting Plan (hereinafter referred to as the "Issuance and
Underwriting Plan"), the number of shares to be issued to specific
objects this time shall not exceed 954,165,121 shares and total
shall not exceed 6,822,557,769 shares (including the above number).
Within the above range, the board of directors of the company and
its authorized personnel will determine the final issuance quantity
in accordance with the authorization of the shareholders' meeting,
based on the relevant provisions of the Measures for the
Administration of the Issuance and Underwriting of Securities, the
Administrative Measures for the Registration of Securities Issued
by Listed Companies, and the Implementation Rules for the Issuance
and Underwriting Business of Securities of Listed Companies on the
Shanghai Stock Exchange, as well as the actual subscription
situation and negotiation with the joint lead underwriters, and
based on the approval document issued by the China Securities
Regulatory Commission for this issuance.
According to the subscription situation of investors, the number
of shares to be issued to specific objects this time is 804,436,061
shares, which does not exceed 30% of the total share capital of the
listed company before the issuance; the issuance scale is
16,096,765,580.61 RMB, which does not exceed 100% of the
transaction consideration to be paid in the form of share issuance.
The number of shares issued complies with the relevant provisions
of the resolutions of the board of directors and shareholders'
meetings of the listed company, as well as the Measures for the
Administration of the Issuance and Underwriting of Securities, the
Administrative Measures for the Registration of Securities Issued
by Listed Companies, and the Implementation Rules for the Issuance
and Underwriting Business of Securities of Listed Companies on the
Shanghai Stock Exchange, meets the requirements of the Approval for
the Application for China Yangtze Power Co., Ltd. to Issue Shares
to Purchase Assets and Raise Supporting Funds from China Three
Gorges Corporation and Other Parties (CSRC Approval [2022] No.
2740), and exceeds 70% of the proposed number of shares to be
issued in the Issuance and Underwriting Plan for this issuance.
4 Issue target and subscription method
The method of issuing shares to specific investors for the
fundraising of the matching funds in this offering is through
competitive bidding. The issuance targets are legal persons,
natural persons or other legitimate investors who meet the relevant
requirements of the China Securities Regulatory Commission, such as
securities investment fund management companies, securities
companies, insurance institutions, trust companies and qualified
overseas institutional investors.
5. Results of the Allocation
The final number of targets for the issuance was determined to
be 19. The results are as follows:
Number Issuing entity Number of shares allocated (shares) Allocated amount (RMB)
---------------------------------------------- ------------------------------------ -----------------------
1 China Merchants Securities Co. Ltd 67,366,316 1,347,999,983.16
------- ---------------------------------------------- ------------------------------------ -----------------------
2 Guotai Junan Securities Co. Ltd 62,068,965 1,241,999,989.65
------- ---------------------------------------------- ------------------------------------ -----------------------
3 J.P. Morgan Securities plc 56,721,639 1,134,999,996.39
------- ---------------------------------------------- ------------------------------------ -----------------------
4 Goldman Sachs International 53,523,238 1,070,999,992.38
------- ---------------------------------------------- ------------------------------------ -----------------------
5 GIC Private Limited 51,624,187 1,032,999,981.87
------- ---------------------------------------------- ------------------------------------ -----------------------
6 China Life Asset Management Co., Ltd. 49,975,012 999,999,990.12
------- ---------------------------------------------- ------------------------------------ -----------------------
7 Ruiyuan Fund Management Co., Ltd. 49,975,012 999,999,990.12
------- ---------------------------------------------- ------------------------------------ -----------------------
China State-Owned Enterprise Restructuring
8 Fund Co., Ltd. Phase II 49,975,012 999,999,990.12
------- ---------------------------------------------- ------------------------------------ -----------------------
9 Zhejiang Energy Equity Investment Fund 49,475,262 989,999,992.62
Management Co., Ltd. - Zhejiang Zheneng Green
Energy
Equity Investment Fund Partnership (Limited
Partnership)
------- ---------------------------------------------- ------------------------------------ -----------------------
10 Gaoguan Investment Co., Ltd. 44,977,511 899,999,995.11
------- ---------------------------------------------- ------------------------------------ -----------------------
11 Shanghai Dingwei New Energy Private Equity 39,980,009 799,999,980.09
Investment Fund Partnership (Limited
Partnership)
------- ---------------------------------------------- ------------------------------------ -----------------------
12 Golden Eagle Asset Management Co., Ltd. 37,481,259 749,999,992.59
------- ---------------------------------------------- ------------------------------------ -----------------------
13 JP Morgan Chase Bank, National Association 34,382,808 687,999,988.08
------- ---------------------------------------------- ------------------------------------ -----------------------
14 Shenwan Hongyuan Securities Co., Ltd. 28,485,757 569,999,997.57
------- ---------------------------------------------- ------------------------------------ -----------------------
15 Caitong Fund Management Co., Ltd. 27,086,456 541,999,984.56
------- ---------------------------------------------- ------------------------------------ -----------------------
16 The Hongkong and Shanghai Banking Corporation 25,875,350 517,765,753.50
Limited
------- ---------------------------------------------- ------------------------------------ -----------------------
17 China Re Asset Management Co., Ltd 25,487,256 509,999,992.56
------- ---------------------------------------------- ------------------------------------ -----------------------
18 Guangfa Securities Co., Ltd. 24,987,506 499,999,995.06
------- ---------------------------------------------- ------------------------------------ -----------------------
19 Huaneng Guicheng Trust Co., Ltd. 24,987,506 499,999,995.06
------- ---------------------------------------------- ------------------------------------ -----------------------
Total 804,436,061 16,096,765,580.61
------------------------------------------------------- ------------------------------------ -----------------------
(III) Collection of funds and verification status
According to the verification report (DHHZ [2023] No. 000173)
issued by Dahua Certified Public Accountants, as of 4:00 pm on
April 3, 2023 (Monday), 19 allocated objects have deposited a total
of RMB 16,096,765,580.61 (including a deposit of RMB
500,000,000.00) into the subscription fund special account
designated by CITIC Securities for the subscription of RMB ordinary
shares (A shares) issued by China Yangtze Power Co., Ltd. to
specific objects.
On April 5, 2023, Dahua Certified Public Accountants issued the
verification report (DHHZ [2023] No. 000174).
As of April 4, 2023, the total amount of funds raised in this
offering was RMB 16,096,765,580.61, and the net proceeds of the
funds raised, after deducting the issuance expenses (excluding tax)
of RMB 46,680,620.18, was RMB 16,050,084,960.43, of which RMB
804,436,061 was included in the registered capital (equity) and the
remaining RMB 15,247,790,780.19 was recorded in the capital reserve
(share premium).
(IV) Registration of additional shares
On 24 April, 2023, Shanghai branch of China Securities
Depository and Clearing Corporation Limited issued the Certificate
of Securities Change Registration, confirming that the registration
of the new shares corresponding to the issuance of stocks to
specific objects in this fundraising has been completed on 24
April, 2023. The number of new shares issued in this fundraising to
specific objects is 804,436,061 shares, all of which are restricted
shares. After this issuance, the total number of the company's
shares is 24,468,217,716 shares.
(V) Conclusion opinions of joint lead underwriters and law firms
on the compliance of the issuance process and subscription objects
to specific objects.
1. Opinion of the Joint Lead Underwriters
The joint lead underwriters for the private placement of shares
to specific investors, namely CITIC Securities Co., Ltd., Huatai
United Securities Co., Ltd., China International Capital
Corporation Limited, and Changjiang Financing Service Co., Limited,
have formed the following opinion regarding the compliance of the
issuance process and the subscription eligibility of the
investors:
"The organization process of this issuance strictly complies
with relevant laws and regulations, as well as the requirements
approved by the company's board of directors, shareholders'
meeting, and China Securities Regulatory Commission.
The bidding, pricing, and allocation process of this issuance
comply with relevant provisions of the issuance plan, as well as
laws and regulations such as the Company Law, the Securities Law,
the Measures for the Administration of Issuance and Underwriting,
and the Measures for the Administration of Registration.
The determination process of the subscription objects of the
issuer is fair and impartial, in the interests of the company and
its shareholders, and in compliance with relevant laws and
regulations such as the Company Law, the Securities Law, the
Measures for the Administration of Issuance and Underwriting, and
the Measures for the Administration of Registration.
The subscription funds of the investors in this issuance are not
directly or indirectly derived from the controlling shareholders,
actual controllers, directors, supervisors, senior management
personnel, or related parties that exert significant influence of
the issuer or the joint lead underwriters, nor do they directly or
indirectly accept financial assistance or compensation provided by
the issuer, its controlling shareholders, actual controllers, major
shareholders, or relevant parties with interests. The information
on the sources of subscription funds is true, accurate, and
complete, and the arrangement of subscription funds can effectively
protect the legitimate rights and interests of the issuer and small
and medium-sized shareholders, in compliance with laws and
regulations such as the Measures for the Administration of
Registration."
2. Opinions of legal advisers
The legal advisor for this private placement of shares to
specific investors, Beijing Zhong Lun Law Firm, has formed the
following conclusion regarding the compliance of the issuance
process and the subscription eligibility of the investors:
"The issuer has obtained necessary approvals, authorizations,
and filings in accordance with the law for this issuance. The legal
documents involved in this issuance process, such as the
Subscription Invitation, the Purchase Order, and the formal Share
Subscription Agreement, are legal and valid. The issuance process
and results are fair and just, and the subscription investors have
the necessary qualifications to subscribe to the shares in this
issuance, in compliance with relevant laws and regulations such as
the Regulation on the Registration of Securities and the Measures
for the Administration of Underwriting. The issuance also meets the
relevant requirements of the issuer's shareholder meeting
resolution regarding this private placement."
II. Issue Results and Target Profile
(I) Issue results
1 Issue targets, number of issues and lock-up period
The total amount of funds raised from the issue to specific
targets was RMB16,096,765,580.61 and the number of shares issued
was 804,436,061 shares, which were subscribed based on the issue
price of RMB 20.01 per share as follows:
Number Issuing entity Number Allocated Lock-in
of shares amount (RMB) period
allocated (months)
(shares)
----------------------------- ------------ ------------------ ----------
China Merchants Securities
1 Co. Ltd 67,366,316 1,347,999,983.16 6
------- ----------------------------- ------------ ------------------ ----------
Guotai Junan Securities
2 Co. Ltd 62,068,965 1,241,999,989.65 6
------- ----------------------------- ------------ ------------------ ----------
J.P. Morgan Securities
3 plc 56,721,639 1,134,999,996.39 6
------- ----------------------------- ------------ ------------------ ----------
4 Goldman Sachs International 53,523,238 1,070,999,992.38 6
------- ----------------------------- ------------ ------------------ ----------
5 GIC Private Limited 51,624,187 1,032,999,981.87 6
------- ----------------------------- ------------ ------------------ ----------
China Life Asset Management
6 Co., Ltd. 49,975,012 999,999,990.12 6
------- ----------------------------- ------------ ------------------ ----------
Ruiyuan Fund Management
7 Co., Ltd. 49,975,012 999,999,990.12 6
------- ----------------------------- ------------ ------------------ ----------
China State-Owned Enterprise
Restructuring Fund
8 Co., Ltd. Phase II 49,975,012 999,999,990.12 6
------- ----------------------------- ------------ ------------------ ----------
Zhejiang Energy Equity
Investment Fund Management
Co., Ltd. - Zhejiang
Zheneng Green Energy
Equity Investment Fund
Partnership (Limited
9 Partnership) 49,475,262 989,999,992.62 6
------- ----------------------------- ------------ ------------------ ----------
Gaoguan Investment
10 Co., Ltd. 44,977,511 899,999,995.11 6
------- ----------------------------- ------------ ------------------ ----------
Shanghai Dingwei New
Energy Private Equity
Investment Fund Partnership
11 (Limited Partnership) 39,980,009 799,999,980.09 6
------- ----------------------------- ------------ ------------------ ----------
Golden Eagle Asset
12 Management Co., Ltd. 37,481,259 749,999,992.59 6
------- ----------------------------- ------------ ------------------ ----------
JP Morgan Chase Bank,
13 National Association 34,382,808 687,999,988.08 6
------- ----------------------------- ------------ ------------------ ----------
Shenwan Hongyuan Securities
14 Co., Ltd. 28,485,757 569,999,997.57 6
------- ----------------------------- ------------ ------------------ ----------
Caitong Fund Management
15 Co., Ltd. 27,086,456 541,999,984.56 6
------- ----------------------------- ------------ ------------------ ----------
The Hongkong and Shanghai
Banking Corporation
16 Limited 25,875,350 517,765,753.50 6
------- ----------------------------- ------------ ------------------ ----------
China Re Asset Management
17 Co., Ltd 25,487,256 509,999,992.56 6
------- ----------------------------- ------------ ------------------ ----------
Guangfa Securities
18 Co., Ltd. 24,987,506 499,999,995.06 6
------- ----------------------------- ------------ ------------------ ----------
Huaneng Guicheng Trust
19 Co., Ltd. 24,987,506 499,999,995.06 6
------- ----------------------------- ------------ ------------------ ----------
Total 804,436,061 16,096,765,580.61 -
-------------------------------------- ------------ ------------------ ----------
2. Lock-up period arrangement
According to the relevant regulations of the CSRC, the shares
subscribed by the subscribers in this offering may not be
transferred in any form within 6 months from the end of the
offering. After the completion of the offering and the subscription
of the fundraising, the subscribers shall also comply with the
above lock-up arrangement in relation to the bonus shares, shares
from conversion of capital reserve and other shares related to the
offering that they are entitled to.
3. Expected Listing Date of Subscribed Shares
The offline registration of the additional shares for the issue
of shares to raise matching funds was completed on 24 April 2023 at
the Shanghai Branch of China Securities Depository and Clearing
Corporation Limited.
The additional shares will be listed and traded on the Shanghai
Stock Exchange on the first trading day immediately following the
expiration of the lock-up period (if the expected listing date
falls on a statutory holiday or rest day, it will be postponed to
the first trading day thereafter). The lock-up period will be
calculated from the date of completion of the share issuance. After
the expiration of the lock-up period, the transfer of subscribed
shares by the subscribers shall be subject to relevant laws,
regulations and rules of the China Securities Regulatory Commission
and the Shanghai Stock Exchange.
(II) Information on the issuer
1. China Merchants Securities Co. Ltd
Company name China Merchants Securities Co. Ltd
----------------------------------------------------------------------------------------
Date of Establishment 1 August 1993
---------------------------- ----------------------------------------------------------------------------------------
Registered Capital RMB8,696,526,806
---------------------------- ----------------------------------------------------------------------------------------
Legal representative Huo Da
---------------------------- ----------------------------------------------------------------------------------------
Registered Address No.111 Fuhua 1st Road, Futian Street, Futian District, Shenzhen
---------------------------- ----------------------------------------------------------------------------------------
Type of business Company Limited by Shares (Listed)
---------------------------- ----------------------------------------------------------------------------------------
Unified Social Credit Code 91440300192238549B
---------------------------- ----------------------------------------------------------------------------------------
Business Scope Securities brokerage; securities investment consulting; financial advisory related to
securities
trading and securities investment activities; securities underwriting and sponsorship;
securities
proprietary trading; margin trading and securities lending; sales agency of securities
investment
funds; middleman services for futures companies; sales agency of financial products;
dual-license
insurance agency business; securities investment fund custody; stock option market
making;
market making trading for listed securities. (For projects that require approval by
law, business
activities can only be carried out after approval by relevant departments, and specific
business
projects shall be subject to the approval documents or licenses issued by the relevant
departments.)
---------------------------- ----------------------------------------------------------------------------------------
2. Guotai Junan Securities Co. Ltd
Company name Guotai Junan Securities Co. Ltd
-----------------------------------------------------------------------------------------
Date of Establishment 18 August 1999
--------------------------- -----------------------------------------------------------------------------------------
Registered Capital RMB8,906,671,631
--------------------------- -----------------------------------------------------------------------------------------
Legal representative He Qing
--------------------------- -----------------------------------------------------------------------------------------
Registered Address 618 Machang Road, China (Shanghai) Pilot Free Trade Zone
--------------------------- -----------------------------------------------------------------------------------------
Type of business Other companies limited by shares (listed)
--------------------------- -----------------------------------------------------------------------------------------
Unified Social Credit Code 9131000063159284XQ
--------------------------- -----------------------------------------------------------------------------------------
Business Scope Securities brokerage; securities proprietary trading; securities underwriting and
sponsorship;
securities investment consulting; financial advisory related to securities trading and
securities
investment activities; margin trading and securities lending; distribution of securities
investment
fund; distribution of financial products; intermediation business for futures companies;
stock
options market making; other businesses approved by China Securities Regulatory
Commission
that require approval by relevant authorities before conducting business activities.
--------------------------- -----------------------------------------------------------------------------------------
3. J.P. Morgan Securities plc
Company name J.P. Morgan Securities plc
--------------------------------------------------------------
Registered Capital US$17,546,050,000
--------------------- --------------------------------------------------------------
Legal representative Chi Ho Ron Chan
--------------------- --------------------------------------------------------------
Registered Address 25 Bank Street, Canary Wharf, London, E14 5JP, United Kingdom
--------------------- --------------------------------------------------------------
Type of business QFII
--------------------- --------------------------------------------------------------
Licence number QF2016EUS309
--------------------- --------------------------------------------------------------
Business Scope Domestic Portfolio Investment
--------------------- --------------------------------------------------------------
4. Goldman Sachs International
Company name Goldman Sachs International
-----------------------------------------------------------
Registered Capital US$3,414 million
------------------- -----------------------------------------------------------
Registered Address Plumtree Court, 25 Shoe Lane, London, United Kingdom, EC4A
4AU
------------------- -----------------------------------------------------------
Type of business QFII
------------------- -----------------------------------------------------------
Licence number QF2014EUS274
------------------- -----------------------------------------------------------
Business Scope Domestic Portfolio Investment
------------------- -----------------------------------------------------------
5. GIC Private Limited
Company name GIC Private Limited
----------------------------------------------------------
Legal representative Lim Chow Kiat
--------------------- ----------------------------------------------------------
Registered Address 168 Robinson Road, #37-01 Capital Tower, Singapore 068912
--------------------- ----------------------------------------------------------
Type of business QFII
--------------------- ----------------------------------------------------------
Licence number QF2005ASO030
--------------------- ----------------------------------------------------------
Business Scope Domestic Portfolio Investment
--------------------- ----------------------------------------------------------
6. China Life Asset Management Co., Ltd.
Company name China Life Asset Management Co., Ltd.
----------------------------------------------------------------------------------------
Date of Establishment 23 November 2003
---------------------------- ----------------------------------------------------------------------------------------
Registered Capital RMB 4,000,000,000
---------------------------- ----------------------------------------------------------------------------------------
Legal representative Wang Junhui
---------------------------- ----------------------------------------------------------------------------------------
Registered Address 14-18/F, China Life Centre, 17 Financial Street, Xicheng District, Beijing
---------------------------- ----------------------------------------------------------------------------------------
Type of business Other limited liability companies
---------------------------- ----------------------------------------------------------------------------------------
Unified Social Credit Code 91110000710932101M
---------------------------- ----------------------------------------------------------------------------------------
Business Scope Management of the use of own funds; entrusted or commissioned asset management
business; consulting
business related to the above business; other asset management business permitted by
national
laws and regulations. (Projects subject to approval in accordance with the law, subject
to
the approval of the relevant departments before commencing business activities)
(Enterprises
shall select their own business projects and carry out business activities in
accordance with
the law; projects subject to approval in accordance with the law, subject to the
approval
of the relevant departments before carrying out business activities in accordance with
the
approved content; shall not engage in business activities of projects prohibited and
restricted
under the industrial policy of the city.)
---------------------------- ----------------------------------------------------------------------------------------
7. Ruiyuan Fund Management Co., Ltd.
Company name Ruiyuan Fund Management Co., Ltd.
-----------------------------------------------------------------------------------------
Date of Establishment October 29, 2018
--------------------------- -----------------------------------------------------------------------------------------
Registered Capital RMB 100,000,000
--------------------------- -----------------------------------------------------------------------------------------
Legal representative Rao Gang
--------------------------- -----------------------------------------------------------------------------------------
Registered Address Room 608, No. 170, Lintong Road, Hongkou District, Shanghai
--------------------------- -----------------------------------------------------------------------------------------
Type of business Limited liability company (invested or controlled by natural persons)
--------------------------- -----------------------------------------------------------------------------------------
Unified Social Credit Code 91310109MA1G5KWGXY
--------------------------- -----------------------------------------------------------------------------------------
Business Scope Public fund management (management of publicly-offered securities investment funds, fund
sales,
specific client asset management and other businesses licensed by the China Securities
Regulatory
Commission). [Projects subject to approval in accordance with the law, subject to the
approval
of the relevant authorities before the commencement of business activities]
--------------------------- -----------------------------------------------------------------------------------------
8. China State-Owned Enterprise Restructuring Fund Co., Ltd.
Phase II.
Company name China State-Owned Enterprise Restructuring Fund Co., Ltd. Phase II.
-----------------------------------------------------------------------------------------
Date of Establishment 10 August 2021
--------------------------- -----------------------------------------------------------------------------------------
Registered Capital RMB73,750,000,000
--------------------------- -----------------------------------------------------------------------------------------
Legal representative Zhu Bixin
--------------------------- -----------------------------------------------------------------------------------------
Registered Address 5/F, No.8 Finance Street 1, Wuxi
--------------------------- -----------------------------------------------------------------------------------------
Type of business Company Limited by Shares (Unlisted)
--------------------------- -----------------------------------------------------------------------------------------
Unified Social Credit Code 91320200MA26R2TB3H
--------------------------- -----------------------------------------------------------------------------------------
Business Scope General items: to engage in equity investment, investment management, asset management
and
other activities with private equity funds (must complete registration and filing with
the
China Securities Investment Fund Association before engaging in business activities)
(except
for items subject to approval in accordance with the law, with business license to carry
out
business activities independently in accordance with the law)
--------------------------- -----------------------------------------------------------------------------------------
9. Zhejiang Energy Equity Investment Fund Management Co., Ltd. -
Zhejiang Zheneng Green Energy Equity Investment Fund Partnership
(Limited Partnership)
Company name Zhejiang Energy Equity Investment Fund Management Co., Ltd.
-----------------------------------------------------------------------------------------
Date of Establishment June 7, 2017
--------------------------- -----------------------------------------------------------------------------------------
Registered Capital RMB 50 million
--------------------------- -----------------------------------------------------------------------------------------
Legal representative Feng Jun
--------------------------- -----------------------------------------------------------------------------------------
Registered Address Room 255, No. 88-2, Yuan Shuai Miao Hou, Shangcheng District, Hangzhou, Zhejiang
Province
--------------------------- -----------------------------------------------------------------------------------------
Type of business Limited liability companies (wholly owned by legal persons not invested or controlled by
natural
persons)
--------------------------- -----------------------------------------------------------------------------------------
Unified Social Credit Code 91330000MA27U0BHXG
--------------------------- -----------------------------------------------------------------------------------------
Business Scope Private equity investment, private equity investment management, industrial investment,
asset
management, investment management consulting. (without the approval of the financial and
other
regulatory authorities, shall not engage in financing deposits to the public, financial
guarantees,
customer financial management and other financial services) (projects subject to
approval
in accordance with the law, after the approval of the relevant departments before
operating
activities)
--------------------------- -----------------------------------------------------------------------------------------
10. Gaoguan Investment Co., Ltd.
Company name Gaoguan Investment Co., Ltd.
---------------------------------------------------
Registered Address 22/F Ruttonjee House, 11 Duddell Street, Hong Kong
------------------- ---------------------------------------------------
Type of business QFII
------------------- ---------------------------------------------------
Licence number QF2014ASF266
------------------- ---------------------------------------------------
11. Shanghai Dingwei New Energy Private Equity Investment Fund
Partnership (Limited Partnership)
Company name Shanghai Dingwei New Energy Private Equity Investment Fund Partnership (Limited
Partnership)
-----------------------------------------------------------------------------------------
Date of Establishment 18 July 2022
--------------------------- -----------------------------------------------------------------------------------------
Registered Capital RMB 3,010 million
--------------------------- -----------------------------------------------------------------------------------------
Legal representative Ningbo Zhongping Enterprise Management Co.
--------------------------- -----------------------------------------------------------------------------------------
Registered Address Room 116 & 117, Block 1, No. 1, Lane 1800, Xin Yang Highway, Lingang New Area, China
(Shanghai)
Pilot Free Trade Zone
--------------------------- -----------------------------------------------------------------------------------------
Type of business Limited Partnerships
--------------------------- -----------------------------------------------------------------------------------------
Unified Social Credit Code 91310000MABU9CNY01
--------------------------- -----------------------------------------------------------------------------------------
Business Scope General items: to engage in equity investment, investment management, asset management
and
other activities with private equity funds (must complete registration with the China
Securities
Investment Fund Association before engaging in business activities). (Except for items
subject
to approval in accordance with the law, with business license to carry out business
activities
independently in accordance with the law)
--------------------------- -----------------------------------------------------------------------------------------
12. Golden Eagle Asset Management Co., Ltd.
Company name Golden Eagle Asset Management Co., Ltd.
----------------------------------------------------------------------------------------
Date of Establishment 6 November 2002
---------------------------- ----------------------------------------------------------------------------------------
Registered Capital RMB 510.2 million
---------------------------- ----------------------------------------------------------------------------------------
Legal representative Yao Wenqiang
---------------------------- ----------------------------------------------------------------------------------------
Registered Address Room 3212, No.2 Huitong 2nd Street, Hengli Town, Nansha District, Guangzhou (office
only)
---------------------------- ----------------------------------------------------------------------------------------
Type of business Other limited liability companies
---------------------------- ----------------------------------------------------------------------------------------
Unified Social Credit Code 9144000074448348X6
---------------------------- ----------------------------------------------------------------------------------------
Business Scope Fund raising, fund sales, asset management, specific client asset management and other
businesses
as permitted by the CSRC. (Projects subject to approval by the relevant authorities
before
commencing business activities)
---------------------------- ----------------------------------------------------------------------------------------
13. JPMorgan Chase Bank, National Association
Company name JPMorgan Chase Bank, National Association
------------------------------------------------
Registered Capital US$1,785 million
--------------------- ------------------------------------------------
Legal representative Chi Ho Ron Chan
--------------------- ------------------------------------------------
Registered Address State of New York, the United States of America
--------------------- ------------------------------------------------
Type of business QFII
--------------------- ------------------------------------------------
Licence number QF2003NAB009
--------------------- ------------------------------------------------
Business Scope Domestic Portfolio Investment
--------------------- ------------------------------------------------
14 Shenwan Hongyuan Securities Co., Ltd.S
Company name Shenwan Hongyuan Securities Co., Ltd.
----------------------------------------------------------------------------------------
Date of Establishment January 16, 2015
---------------------------- ----------------------------------------------------------------------------------------
Registered Capital RMB53,500 million
---------------------------- ----------------------------------------------------------------------------------------
Legal representative Yang Yucheng
---------------------------- ----------------------------------------------------------------------------------------
Registered Address 45/F, No. 989 Changle Road, Xuhui District, Shanghai
---------------------------- ----------------------------------------------------------------------------------------
Type of business Limited liability companies (wholly owned by legal persons not invested or controlled
by natural
persons)
---------------------------- ----------------------------------------------------------------------------------------
Unified Social Credit Code 913100003244445565
---------------------------- ----------------------------------------------------------------------------------------
Business Scope Permitted items: securities business; securities investment consulting; securities
investment
fund sales services; securities investment fund custody. (Items subject to approval
according
to law, approved by the relevant departments before operating activities, specific
operating
items subject to the relevant departmental approval documents or license documents)
General
items: securities companies to provide intermediary introduction business for futures
companies.
(Except for items subject to approval in accordance with the law, operating activities
shall
be carried out independently with the business licence in accordance with the law)
---------------------------- ----------------------------------------------------------------------------------------
15. Caitong Fund Management Co., Ltd.
Company name Caitong Fund Management Co., Ltd.
----------------------------------------------------------------------------------------
Date of Establishment 21 June 2011
---------------------------- ----------------------------------------------------------------------------------------
Registered Capital RMB 200,000,000
---------------------------- ----------------------------------------------------------------------------------------
Legal representative Wu Linhui
---------------------------- ----------------------------------------------------------------------------------------
Registered Address Room 505, No. 619 Wusong Road, Hongkou District, Shanghai
---------------------------- ----------------------------------------------------------------------------------------
Type of business Other limited liability companies
---------------------------- ----------------------------------------------------------------------------------------
Unified Social Credit Code 91310000577433812A
---------------------------- ----------------------------------------------------------------------------------------
Business Scope Fund raising, fund sales, specific client asset management, asset management and other
business
as permitted by the CSRC. [Projects subject to approval by the relevant authorities
before
commencing business activities]
---------------------------- ----------------------------------------------------------------------------------------
16. The Hongkong and Shanghai Banking Corporation Limited
Company name The Hongkong and Shanghai Banking Corporation Limited
--------------------------------------------------------------------------------------------
Registered Capital HK$116,103 million
--------------------- --------------------------------------------------------------------------------------------
Legal representative Chen Shaozong
--------------------- --------------------------------------------------------------------------------------------
Registered Address 1 Queen's Road Central, Hong Kong Special Administrative Region, People's Republic of China
--------------------- --------------------------------------------------------------------------------------------
Type of business QFII
--------------------- --------------------------------------------------------------------------------------------
Licence number 02Y-170/QF2003ASB007
--------------------- --------------------------------------------------------------------------------------------
Business Scope Operating foreign shares business, domestic securities investment
--------------------- --------------------------------------------------------------------------------------------
17. China Re Asset Management Co., Ltd
Company name China Re Asset Management Co., Ltd
----------------------------------------------------------------------------------------
Date of Establishment February 18, 2005
---------------------------- ----------------------------------------------------------------------------------------
Registered Capital RMB1,500 million
---------------------------- ----------------------------------------------------------------------------------------
Legal representative Li Wei
---------------------------- ----------------------------------------------------------------------------------------
Registered Address No.11 Financial Street, Xicheng District, Beijing
---------------------------- ----------------------------------------------------------------------------------------
Type of business Other companies limited by shares (unlisted)
---------------------------- ----------------------------------------------------------------------------------------
Unified Social Credit Code 91100000717854273B
---------------------------- ----------------------------------------------------------------------------------------
Business Scope Management and application of own funds and insurance funds; entrusted fund management
business;
consulting business related to fund management business; other asset management
business as
permitted by national laws and regulations. (Market entities shall choose their own
business
projects and carry out business activities in accordance with the law; for projects
that are
subject to approval in accordance with the law, they shall carry out business
activities in
accordance with the approved content after approval by the relevant departments; they
shall
not engage in business activities of projects prohibited and restricted by the state
and the
city's industrial policy.)
---------------------------- ----------------------------------------------------------------------------------------
18. Guangfa Securities Co., Ltd
Company name Guangfa Securities Co.,Ltd
----------------------------------------------------------------------------------------
Date of Establishment January 21, 1994
---------------------------- ----------------------------------------------------------------------------------------
Registered Capital RMB7,621,087,664
---------------------------- ----------------------------------------------------------------------------------------
Legal representative Lam Chuan Fai
---------------------------- ----------------------------------------------------------------------------------------
Registered Address Room 618, No.2, Tengfei 1st Street, Sino-Singapore Guangzhou Knowledge City, Huangpu
District,
Guangzhou City, Guangdong Province, China
---------------------------- ----------------------------------------------------------------------------------------
Type of business Company limited by shares (listed, natural person investment or holding)
---------------------------- ----------------------------------------------------------------------------------------
Unified Social Credit Code 91440000126335439C
---------------------------- ----------------------------------------------------------------------------------------
Business Scope Securities brokerage; securities investment advisory; financial advisory related to
securities
trading and securities investment activities; securities underwriting and sponsorship;
securities
self-dealing; securities financing and financing; securities investment fund
distribution;
securities investment fund custody; intermediary introduction business for futures
companies;
distribution of financial products; market-making of stock options. (Projects subject
to approval
in accordance with the law, subject to the approval of the relevant authorities before
commencing
business activities)
---------------------------- ----------------------------------------------------------------------------------------
19. Huaneng Guicheng Trust Co., Ltd.
Company name Huaneng Guicheng Trust Co., Ltd.
----------------------------------------------------------------------------------------
Date of Establishment 29 September 2002
---------------------------- ----------------------------------------------------------------------------------------
Registered Capital RMB6,194,557,406
---------------------------- ----------------------------------------------------------------------------------------
Legal representative Tian Jun
---------------------------- ----------------------------------------------------------------------------------------
Registered Address 23.24/F, Building 10, Guizhou Financial City Phase 1 Business District, No.55 Changling
North
Road, Guanshanhu District, Guiyang City, Guizhou Province
---------------------------- ----------------------------------------------------------------------------------------
Type of business Other limited liability companies
---------------------------- ----------------------------------------------------------------------------------------
Unified Social Credit Code 91520000214413134U
---------------------------- ----------------------------------------------------------------------------------------
Business Scope Businesses that are prohibited by laws, regulations, and decisions of the State Council
cannot
be operated. Businesses that require approval (examination and approval) according to
laws,
regulations, and decisions of the State Council can only be operated after obtaining a
license
(approval) document from the approving authority. For businesses that do not require
approval
(examination and approval) according to laws, regulations, and decisions of the State
Council,
market entities can choose to operate independently. Businesses are include: fund
trusts,
chattel trusts, real estate trusts, securities trusts, other property or property
rights trusts,
investment fund businesses or fund management companies as initiators, restructuring,
mergers
and acquisitions of enterprise assets, project financing, corporate finance, financial
consulting,
securities underwriting businesses approved by relevant departments of the State
Council,
intermediation, consulting, credit investigation, safekeeping and safe deposit box
businesses,
inherent property used in ways such as depositing with other banks, interbank borrowing
and
lending, lending, leasing, and investment, providing guarantees to others using
inherent property,
interbank borrowing and lending, specific purpose trust trustees, overseas entrusted
wealth
management businesses, equity investment businesses using inherent assets, stock index
futures
trading (basic category) businesses (not for speculative purposes), and other
businesses approved
by laws, regulations, and the China Banking and Insurance Regulatory Commission.
---------------------------- ----------------------------------------------------------------------------------------
(III) Issuance Targets and Affiliation with the Company
The final subscribers in this issuance do not include the
controlling shareholders, actual controllers, directors,
supervisors, senior management, and affiliated parties who control
or exert significant influence over the issuer or the joint lead
underwriters. There is no direct or indirect participation by the
institutions or individuals in the subscription for this issuance.
The issuer, its controlling shareholders, actual controllers, and
major shareholders have not made any commitments to the subscribers
to guarantee returns or provide indirect guarantees of returns, nor
have they provided financial assistance or other compensation
directly or through interested parties to the subscribers.
(IV) Significant Transactions between the Issuance Targets and
the Company
No significant Transactions between the Issuance Targets and the
Company in the recent year.
(V) Future Transaction Arrangements between the Issuance Targets
and the Company
As of the date of this announcement, there are no future
transaction arrangements between the company and the issuance
targets. For any future transactions that may occur, the company
will strictly follow the decision-making procedures required by the
company's articles of association and relevant laws and
regulations, and make sufficient information disclosures.
III. Shareholdings of the top ten shareholders of the Company
before and after the issuance
(I) Shareholdings of the top ten shareholders of the Company
before the Issue
The shareholdings of the Company's top ten shareholders as at 24
April 2023 prior to the completion of the Issue are set out in the
table below:
number Name of shareholder Number of shares held Shareholding ratio Nature of shares
(shares)
---------------------------- ---------------------------- ------------------- ---------------------------
1 China Three Gorges 10,083,138,321 42.61% A shares outstanding,
Corporation restricted A shares
outstanding
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
Hong Kong Securities
2 Clearing Company Limited 1,689,844,416 7.14% A shares outstanding
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
3 CTG - CITIC Securities - 18 1,583,647,066 6.69% A shares outstanding
Three Gorges EB Guarantee
and Trust Property Account
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
4 Sichuan Energy Investment 1,109,220,606 4.69% A shares outstanding,
Group Co., Ltd. restricted A shares
outstanding
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
5 Ping An of China Life 988,076,143 4.18% A shares outstanding
Insurance Company Limited -
Traditional - General
Insurance Products
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
6 China Three Gorges 880,000,000 3.72% A shares outstanding
Construction Engineering
Corporation
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
7 CTG - CITIC Securities - G 676,311,000 2.86% A shares outstanding
Three Gorges EB2 Guarantee
and Trust Property Account
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
8 China Securities Finance 657,980,472 2.78% A shares outstanding
Corporation Limited
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
9 Yunnan Provincial Energy 552,102,913 2.26% A shares outstanding,
Investment Group Co., Ltd. restricted A shares
outstanding
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
10 CTG Industrial Development 454,837,184 1.92% A shares outstanding
(Beijing) Co., Ltd.
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
Total 18,675,158,121 78.92%
-------------------------------------- ---------------------------- ------------------- ---------------------------
(II) Shareholdings of the top ten shareholders of the Company
after the Issue
Upon completion of the issue, the top ten shareholders of the
Company are expected to hold shares as shown in the table
below:
number Name of shareholder Number of shares held Shareholding ratio Nature of shares
(shares)
---------------------------- ---------------------------- ------------------- ---------------------------
1 China Three Gorges 10,083,138,321 41.21% A shares outstanding,
Corporation restricted A shares
outstanding
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
Hong Kong Securities
2 Clearing Company Limited 1,681,057,715 6.87% A shares outstanding
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
3 CTG - CITIC Securities - 18 1,583,647,066 6.47% A shares outstanding
Three Gorges EB Guarantee
and Trust Property Account
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
4 Sichuan Energy Investment 1,036,128,906 4.23% A shares outstanding,
Group Co., Ltd. restricted A shares
outstanding
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
5 Ping An of China Life 988,076,143 4.04% A shares outstanding
Insurance Company Limited -
Traditional - General
Insurance Products
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
6 China Three Gorges 880,000,000 3.60% A shares outstanding
Construction Engineering
Corporation
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
7 CTG - CITIC Securities - G 676,311,000 2.76% A shares outstanding
Three Gorges EB2 Guarantee
and Trust Property Account
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
8 China Securities Finance 657,980,472 2.69% A shares outstanding
Corporation Limited
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
9 Yunnan Provincial Energy 552,102,913 2.26% A shares outstanding,
Investment Group Co., Ltd. restricted A
shares outstanding
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
10 CTG Industrial Development 454,837,184 1.86% A shares outstanding
(Beijing) Co., Ltd.
-------- ---------------------------- ---------------------------- ------------------- ---------------------------
Total 18,675,158,121 76.32%
-------------------------------------- ---------------------------- ------------------- ---------------------------
(III) Effect of the issue to specific targets on the control of
the listed company
The issue to specific targets will not result in a change of
control of the listed company.
IV. Statement of changes in the share capital structure of the
Company before and after the Issue
The changes in the share capital structure of the listed company
before and after the issue are as follows:
Items Before this issue The Issue After this issue
-------------------------------------- ------------------ --------------------------------------
Number of shares Percentage of Number of shares Number of shares Percentage of
(shares) shares (shares) (shares) shares
------------------ ------------------ ------------------ ------------------ ------------------
Outstanding
shares with
restrictions 921,922,425 3.90% 804,436,061 1,726,358,486 7.06%
------------------ ------------------ ------------------ ------------------ ------------------ ------------------
Outstanding
shares without
restrictions 22,741,859,230 96.10% - 22,741,859,230 92.94%
------------------ ------------------ ------------------ ------------------ ------------------ ------------------
Total number of
shares 23,663,781,655 100.00% 804,436,061 24,468,217,716 100.00%
------------------ ------------------ ------------------ ------------------ ------------------ ------------------
V. Discussion and Analysis of the Management
The impact of the transaction on the Company is detailed in the
Report on Purchasing Assets by Issuing Shares and Paying Cash and
Raising Subscription Funds as well as on Related Party Transaction
by China Yangtze Power Co., Ltd. disclosed by the Company.
VI. Information on intermediaries related to the Issuance
(I) Independent financial adviser (j oint lead underwriter): CITIC Securities Co., Ltd.
Name CITIC Securities Co., Ltd.
------------------------------------------------
Office address CITIC Securities Building, No. 48 Liangmaqiao
Road, Chaoyang District, Beijing
---------------------- ------------------------------------------------
Legal representative Zhang Youjun
---------------------- ------------------------------------------------
Telephone 010-60838888
---------------------- ------------------------------------------------
Fax 010-60833083
---------------------- ------------------------------------------------
Handling personnel Kang Haoyu, Qin Radium, Meng Xianyu, Zhang Nan,
Su Tianyi, Yang Liao, Lu Hongwei, Shao Renjie,
Li Guanru, Zheng Enuo, Fu Dongfeng, Zhu Yin
---------------------- ------------------------------------------------
(II) Independent financial adviser (joint lead underwriter):
Huatai United Securities Co., Ltd
Name of Institution Huatai United Securities Co., Ltd
------------------------------------------------
Legal representative Jiang Yu
---------------------- ------------------------------------------------
Address 6/F, Block A, Fengming International Building,
No.22 Fengsheng Hutong, Xicheng District,
Beijing
---------------------- ------------------------------------------------
Telephone 010-56839300
---------------------- ------------------------------------------------
Fax 010-56839400
---------------------- ------------------------------------------------
Handling personnel Wu Hao, Zhang Jian, Qi Shengxia, Gu Jinxiaohui,
Zheng Zhikai, Gu Zhenghao, Chen Yong
---------------------- ------------------------------------------------
(III) Joint lead underwriters: China International Capital
Corporation Limited.
Name of Institution China International Capital Corporation Limited
------------------------------------------------
Legal representative Shen Rujun
---------------------- ------------------------------------------------
Address 27-28/F, Tower 2, China World Trade Center,
No.1 Jianguomenwai Avenue, Chaoyang District,
Beijing
---------------------- ------------------------------------------------
Telephone 010-65051166
---------------------- ------------------------------------------------
Fax 010-65051166
---------------------- ------------------------------------------------
Handling personnel Li Tianwan, Zhang Min, Yao Yuchen, Li Yifeng,
Guo Miaomiao, Xu Xiyi, Wang Ronghan, Meng
Yizen, Dai Ziyu, Wang Huiqiang, Xiong Zedu
---------------------- ------------------------------------------------
(IV) Joint lead underwriters: Changjiang Financing Service Co.,
Limited
Name of Institution Changjiang Financing Service Co., Limited
--------------------------------------------
Legal representative Wang Chu
---------------------- --------------------------------------------
Address 28/F, 1198 Century Avenue, China (Shanghai)
Pilot Free Trade Zone
---------------------- --------------------------------------------
Telephone 010-57065268
---------------------- --------------------------------------------
Fax 010-57065375
---------------------- --------------------------------------------
Handling personnel Wang Haitao, Su Haiqing, Lu Guanzhang
---------------------- --------------------------------------------
(V) Legal advisers
Name of Institution Beijing Zhong lun Law Firm
------------------------------------------------
Head of Office Zhang Xuebing
--------------------- ------------------------------------------------
Address 22-31/F, South Tower of CP Center, 20 Jin He
East Avenue, Chaoyang District, Beijing100020,
P.R China
--------------------- ------------------------------------------------
Telephone 010-59572288
--------------------- ------------------------------------------------
Fax 010-65681022
--------------------- ------------------------------------------------
Attorneys Wei Haitao, Zhao Haiyang, Jia Chen
--------------------- ------------------------------------------------
(VI) Auditors
Name of Institution Da Hua Certified Public Accountants (Special
General Partnership)
-----------------------------------------------
Managing Partner Yang Xiong, Liang Chun
--------------------- -----------------------------------------------
Address 12/F, Building 7, No. 16, West 4th Ring Middle
Road, Haidian District, Beijing
--------------------- -----------------------------------------------
Telephone 010-583350011
--------------------- -----------------------------------------------
Fax 010-583350006
--------------------- -----------------------------------------------
Certified Public Hao Lijiang, Yang Qian
Accountants
--------------------- -----------------------------------------------
(VII) Capital Verification Agency
Name of Institution Da Hua Certified Public Accountants (Special
General Partnership)
---------------------------------------------
Managing Partner Yang Xiong, Liang Chun
--------------------- ---------------------------------------------
Address 12/F, Building 7, No. 16, West 4th Ring
Middle Road, Haidian District, Beijing
--------------------- ---------------------------------------------
Telephone 010-583350011
--------------------- ---------------------------------------------
Fax 010-583350006
--------------------- ---------------------------------------------
Certified Public Hao Lijiang, Shen Yanbo
Accountants
--------------------- ---------------------------------------------
VII. Documents for inspection
1. The Reply on Approving China Yangtze Power Co., Ltd. to
Purchase Assets and Raise Subscription Funds by Issuing Shares to
China Three Gorges Corporation and Other Companies (ZJXK [2022] No.
2740) issued by the China Securities Regulatory Commission;
2. China Yangtze Power Co., Ltd. Report of Purchasing Assets and
Raising Counterpart Funds by Issuing Shares and Paying Cash to
Specified Objects;
3. Report on the issuance of shares, cash payment for the
purchase of assets, and the raising of matching funds through the
issuance of shares to specific targets for the issuance of shares
and the associated transactions of China Yangtze Power Co., Ltd.
issued by CITIC Securities Co., Ltd., Huatai United Securities Co.,
Ltd., China International Capital Corporation Limited, and
Changjiang Securities Underwriting and Sponsorship Co., Ltd., and
the Report on the compliance of the issuance process and
subscription objects for the issuance of shares to raise matching
funds to specific targets for the associated transactions issued by
the joint lead underwriter.;
4. Legal opinion issued by Beijing Zhong Lun Law Firm regarding
the compliance of the process of issuing shares to specific
investors for raising matching funds for the issuance of shares and
the purchase of assets with cash by China Yangtze Power Co., Ltd.
and the compliance of subscribers.
5. Verification opinion of independent financial adviser CITIC
Securities Co., Ltd. on the transfer of the underlying assets of
China Yangtze Power Co., Ltd. for issuing shares and paying cash to
purchase assets and raise matching funds and related party
transactions issued by CITIC Securities Co., Ltd.;
6. Verification opinion of independent financial adviser Huatai
United Securities Co. Ltd. on the transfer of the underlying assets
of China Yangtze Power Co., Ltd. for issuing shares and paying cash
to purchase assets and raise matching funds and related party
transactions issued by Huatai United Securities Co. Ltd.;
7. Legal opinion of Beijing Zhonglun Law Firm on the transfer of
the underlying assets of China Yangtze Power Co., Ltd. for issuing
shares and paying cash to purchase assets and raising matching
funds and related party transactions issued by Beijing Zhonglun Law
Firm;Legal opinion issued by the legal adviser on the compliance of
the issuance process and the subscribers of the issuance of shares
to specific targets to raise matching funds for the issuance of
shares and payment of cash to purchase assets and raise matching
funds and connected transactions by China Yangtze River Power
Co;
8. Verification Report on the Total Amount of Funds Subscribed
for the Issue of RMB Ordinary Shares (A Shares) by China Yangtze
Power Co., Ltd. to Specified Objects (DHYZ [2023] No. 000173) and
Capital Verification Report of China Yangtze Power Co., Ltd. (DHYZ
[2023] No. 000174) issued by Dahua Certified Public Accountants
(Special General Partnership), the capital verification
institution;
9. all reporting materials reviewed by the CSRC;
10. Other important documents relating to the issue.
It is hereby announced.
Board of Directors of China Yangtze Power Co., Ltd.
26 April, 2023
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END
ROIPPUCPCUPWGWQ
(END) Dow Jones Newswires
April 26, 2023 09:26 ET (13:26 GMT)
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