Ningbo thermoelectric takes over shareholder assets again

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      Ningbo Thermal Power Co., Ltd. issued a supplementary announcement to suspend the investment project and change the purpose of the raised funds, and planned to use the previously raised project funds to acquire some shares of other companies held by major shareholders. In fact, in recent years, although it has frequently acquired the assets of major shareholders, but after the assets are injected into the listed companies, the performance has not been improved, but has been dragged down by it. However, for its major shareholders, they can obtain a large number of equity and "real gold and silver" through asset transfer, while the book capital of listed companies is very little.
Frequent transfer of major shareholder assets
According to wind data statistics, in recent years, Ningbo thermoelectricity has carried out two asset acquisitions, the first one started on October 27, 2018, and the second one is the acquisition of assets by changing the raised funds published in this announcement. Interestingly, the two acquisitions have one thing in common, that is, the counterparties are their major shareholders.
Let's review the next merger. On October 27, 2018, Ningbo thermal power issued the acquisition plan to acquire part of the equity of six target companies, namely Ningbo Xikou pumped storage power station Co., Ltd., Ningbo Mingzhou Thermal Power Co., Ltd. (hereinafter referred to as "Mingzhou thermal power"), Ningbo Kefeng gas turbine thermal power Co., Ltd. (hereinafter referred to as "Kefeng gas"), Ningbo Jiufeng Thermal Power Co., Ltd. and Ningbo Municipal Thermal Power Co., Ltd Li Co., Ltd., Ningbo Ningdian Shipping Co., Ltd. In this acquisition by issuing shares, the total equity ratio of six companies is RMB 1.140 billion, and the counterparties are Ningbo Energy Group Co., Ltd. (hereinafter referred to as "energy group") and Ningbo Development and Investment Group Co., Ltd. (hereinafter referred to as "investment group"). Among them, the investment group is the largest shareholder of the listed company, while the energy group is the wholly-owned subsidiary of the investment group.


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