China Power International Development (HK:2380) has released an update.
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China Power International Development has completed the sale of an 11% equity stake in Pingwei Power to Huainan Mining, reducing its ownership from 60% to 49%. This change means Pingwei Power is now classified as an associate rather than a subsidiary, affecting how its financials will be reported in China Power’s accounts. Investors may find this strategic shift significant as it could influence the company’s future financial performance.
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