China Nuclear Energy Technology to Acquire Ningxia Energy Storage Plant for RMB80 Million

China Nuclear Energy Technology Corporation Limited ( (HK:0611) ) has shared an announcement.

China Nuclear Energy Technology Corporation Limited, through its subsidiary CNI, has agreed to acquire the entire equity interest in a target company that owns a 200MW/400MWh shared energy storage power station in Tongxin County, Ningxia Hui Autonomous Region. The deal, valued at RMB80.38 million, will turn the target into a wholly owned subsidiary, allowing the project’s financial results to be consolidated into the group’s accounts and strengthening its position in energy storage assets.

The acquisition qualifies as a discloseable transaction under Hong Kong’s Listing Rules, as the highest applicable percentage ratio exceeds 5% but is below 25%. As part of the conditions precedent, the seller Ningxia Jiayang must enter into a three-year operational services commissioning agreement with the target company, ensuring continuity of charging and discharging services for the project and providing operational support as the asset transitions under the group’s control.

The most recent analyst rating on (HK:0611) stock is a Hold with a HK$0.47 price target. To see the full list of analyst forecasts on China Nuclear Energy Technology Corporation Limited stock, see the HK:0611 Stock Forecast page.

More about China Nuclear Energy Technology Corporation Limited

China Nuclear Energy Technology Corporation Limited is a Hong Kong-listed company engaged in the nuclear and clean energy sector, focusing on investment, construction and operation of energy-related projects. Through its subsidiaries, the group develops and manages power and energy storage assets in mainland China to expand its presence in the broader renewable and energy infrastructure market.

Average Trading Volume: 3,317,393

Technical Sentiment Signal: Sell

Current Market Cap: HK$824.2M

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