Xinte Energy Co., Ltd. Class H (HK:1799) has released an update.
Xinte Energy Co., Ltd. announced a significant capital investment of RMB 490 million through its subsidiary, Silicon New Material, acquiring a 49% stake in the Target Company. This strategic move, dated June 14, 2024, will result in Silicon New Material recognizing investment revenue via the equity method, as the financials of the Target Company will not be integrated into the group’s consolidated statements. The deal is deemed a connected transaction, subject to reporting and announcement obligations, yet exempt from independent shareholder approval.
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