Shanghai Electric Power Co.Ltd(600021) (600021) announced on December 31 that the shareholder China Yangtze Power Co.Ltd(600900) reduced 63.1095 million shares of the company through centralized bidding and block trading on December 30, 2021, accounting for 2.41% of the total share capital of the company. After the reduction, China Yangtze Power Co.Ltd(600900) holds Shanghai Electric Power Co.Ltd(600021) 198 million shares, accounting for 7.56% of the total share capital of the company.
On November 9, Sichuan Chuantou Energy Co.Ltd(600674) disclosed that China Yangtze Power Co.Ltd(600900) planned to reduce its holdings of no more than 4% of the company’s shares through centralized bidding or block trading in the next six months. This is the first case in recent years that China Yangtze Power Co.Ltd(600900) has reduced its holdings. From December 3 to 16, China Yangtze Power Co.Ltd(600900) reduced Sichuan Chuantou Energy Co.Ltd(600674) 58.6904 million shares, with a reduction ratio of 1.33%.
Prior to today’s announcement, China Yangtze Power Co.Ltd(600900) and its concerted actor, China Three Gorges Group Co., Ltd., held 9.98% and 6.15% of Shanghai Electric Power Co.Ltd(600021) shares respectively, with a total shareholding ratio of 16.13%. After the change, the shareholding ratio of China Yangtze Power Co.Ltd(600900) decreased to 7.56%, the shareholding ratio of China Three Gorges Group Co., Ltd. remained unchanged, and the total shareholding ratio of the two decreased to 13.71%.
Shanghai Electric Power Co.Ltd(600021) said in the announcement that the reason for this reduction is that according to the needs of China Yangtze Power Co.Ltd(600900) ‘s own business development, the shares reduced this time are the shares of the company purchased by China Yangtze Power Co.Ltd(600900) through the centralized bidding transaction of Shanghai Stock Exchange.
In retrospect, Shanghai Electric Power Co.Ltd(600021) previously announced on the evening of November 12, 2019. On that day, the company received a notice from the shareholder China Yangtze Power Co.Ltd(600900) : China Yangtze Power Co.Ltd(600900) increased its holdings of 401400 shares on November 12, accounting for about 0.0153% of the total share capital of the company. After the change of equity, China Yangtze Power Co.Ltd(600900) holds 130 million shares of the company, accounting for about 5% of the total share capital of the company. In the next 12 months, China Yangtze Power Co.Ltd(600900) plans to continue to increase its holdings of Shanghai Electric Power Co.Ltd(600021) shares by no less than 1 million shares.
After that, China Yangtze Power Co.Ltd(600900) and its persons acting in concert continued to increase their holdings of Shanghai Electric Power Co.Ltd(600021) until they reached the total shareholding ratio of 16.13%.
It is worth mentioning that Shanghai Electric Power Co.Ltd(600021) announced on May 28 that it plans to raise no more than 2.231 billion yuan for eight projects, including Yancheng Binhai South h3# offshore wind power project and Jiangsu Rudong h4# offshore wind farm project, and supplement working capital. The issuing objects are the controlling shareholders of the company, state power investment group and China Yangtze Power Co.Ltd(600900) . After the issuance, China Yangtze Power Co.Ltd(600900) will hold 14.21% of the shares of the company and become the second largest shareholder of the company. The company also signed a strategic cooperation agreement with China Yangtze Power Co.Ltd(600900) and China Yangtze Power Co.Ltd(600900) plans to carry out multi-dimensional business cooperation with the company.
On December 29, Shanghai Electric Power Co.Ltd(600021) issued an announcement. On December 27, because the company received China Yangtze Power Co.Ltd(600900) notice that it planned not to subscribe for the non-public offering shares, the company held the tenth interim meeting of the board of directors in 2021 and the seventh interim meeting of the board of supervisors in 2021, deliberated and adopted the proposal on the termination of the conditional share subscription agreement signed by the company and the specific object, On the same day, the company and China Yangtze Power Co.Ltd(600900) signed the termination agreement of Shanghai Electric Power Co.Ltd(600021) share subscription agreement with effective conditions for non-public development of shares.
According to the official website of China Yangtze Power Co.Ltd(600900) , focusing on the main business of hydropower, the company continuously improves the company’s equity installation, optimizes the company’s power supply structure, actively promotes the joint dispatching of hydropower resources in the Yangtze River Basin, and realizes the synchronous growth of benefit and scale through a large proportion of shares in high-quality power enterprises such as Hubei Energy Group Co.Ltd(000883) , Guangzhou Development Group Incorporated(600098) , Sdic Power Holdings Co.Ltd(600886) , Sichuan Chuantou Energy Co.Ltd(600674) , Shanghai Electric Power Co.Ltd(600021) . Give full play to the characteristics of stable and abundant cash flow of hydropower enterprises, steadily carry out investment, smooth the impact of incoming water on the company’s performance fluctuation and improve the company’s sustainable profitability by obtaining stable investment income.
In fact, in recent years China Yangtze Power Co.Ltd(600900) has given the impression that it is constantly buying and increasing its shares in power peers. Now, with a sudden change in painting style, China Yangtze Power Co.Ltd(600900) reduces its holdings of Sichuan Chuantou Energy Co.Ltd(600674) and Shanghai Electric Power Co.Ltd(600021) shares.
(Securities Times · e company)
