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An announcement from CGN Power Co ( (HK:1816) ) is now available.
CGN Power Co., Ltd. has announced the approval of a new Engineering Services Framework Agreement for 2026-2028 with its controlling shareholder, CGN. This agreement, which requires approval from independent shareholders at the 2024 AGM, will continue the provision of various engineering services to the CGN Group, reflecting the company’s ongoing strategic partnership and operational continuity. The agreement is significant as it constitutes non-exempt continuing connected transactions under the Listing Rules, necessitating reporting and independent shareholder approval, thus impacting CGN Power’s operational and financial planning.
More about CGN Power Co
CGN Power Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, primarily engaged in providing engineering services. The company focuses on pre-construction engineering, survey, design, technical services, engineering project management, general engineering, procurement and construction services, bidding agency services, and sales of used or superfluous materials.
YTD Price Performance: -0.05%
Technical Sentiment Signal: Strong Sell
Current Market Cap: $23.84B
For a thorough assessment of 1816 stock, go to TipRanks’ Stock Analysis page.