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CGN New Energy: Subsidiary intends to sell all the equity of Nantong Meiya, with a preliminary public bidding price of about 475 million yuan.
China General Nuclear New Energy plans to sell all the equity of its wholly-owned subsidiary Meiya Electric held by Nantong Meiya through a public bidding process on the Shanghai United Exchange, which is expected to start on February 8, 2025, with a preliminary bidding price of approximately 475 million yuan. This is due to the decline in the performance of Nantong Meiya's business, which is affected by the environmental protection measures and changes in the cogeneration planning of the local government.
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