China Southern Power Grid Technology Co.,Ltd agreed to acquire Guizhou Chuangxing Electric Power Research Institute Co., Ltd. from Guizhou Dingxin Energy Development Co., Ltd. for approximately CNY 190 million.

China Southern Power Grid Technology Co.,Ltd (SHSE:688248) agreed to acquire Guizhou Chuangxing Electric Power Research Institute Co., Ltd. from Guizhou Dingxin Energy Development (Group) Co., Ltd. for approximately CNY 190 million on March 13, 2023. The funds for this transaction will be paid by the China Southern based on the final confirmed price, including but not limited to its own funds, over-raised funds, etc. As of March 31, 2023, Guizhou Chuangxing reported total assets of CNY 256.9 million and net assets of CNY 174.28 million.

The transaction has been approved in the 28th Meeting of the China Southern's 1st Directorate held on May 19, 2023, and is subject to the Shareholders’ Approval. As of May 31, 2023, the transaction is approved by shareholders of China Southern Power Grid Technology Co.,Ltd.