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The latest update is out from China Power International Development ( (HK:2380) ).
China Power International Development’s indirect wholly owned unit Rizhao Wind Power has signed a comprehensive consulting services contract with Shandong Institute for the Rizhao Offshore Wind Power Project in Shandong province. The RMB176.2 million agreement covers regulatory coordination, feasibility studies, and a suite of technical assessments needed to secure permits and validate the project’s economic and technical viability.
The transaction is classified as a connected deal under Hong Kong’s listing rules because Shandong Institute is an indirect non-wholly owned subsidiary of state-owned SPIC, which controls about 65.61% of China Power. With the deal size falling between key threshold ratios, it requires reporting and an announcement but is exempt from independent shareholder approval, while helping the company de-risk a major offshore wind investment at its planning stage.
The most recent analyst rating on (HK:2380) stock is a Hold with a HK$3.50 price target. To see the full list of analyst forecasts on China Power International Development stock, see the HK:2380 Stock Forecast page.
More about China Power International Development
China Power International Development is a Hong Kong–incorporated power producer focused on generating and investing in electricity projects in mainland China. Through subsidiaries such as Rizhao Wind Power, the company is expanding its portfolio into offshore wind power, targeting coastal provinces like Shandong as part of China’s broader transition to cleaner energy sources.
Average Trading Volume: 24,998,533
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$40.7B
For detailed information about 2380 stock, go to TipRanks’ Stock Analysis page.