Beijing Jingneng Clean Energy Co., Ltd. Class H (HK:0579) has released an update.
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Beijing Jingneng Clean Energy Co., Ltd. faces significant financial impacts as their subsidiary, Sichuan Dachuan, is ordered to cease operations of four hydropower stations in Sichuan Province to protect the ecological environment of the Giant Panda National Park. This shutdown is expected to reduce the company’s annual operating revenue by approximately RMB30 million and result in asset impairments between RMB750 million and RMB850 million. The company is in discussions for compensation arrangements following this government directive.
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