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| Wednesday, 2 December 2015, 21:23 HKT/SGT | |
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HONG KONG, Dec 2, 2015 - (ACN Newswire) - CGN Meiya Power Holdings Co., Ltd. ("CGN Meiya Power" or the "Company", stock code: 1811) is pleased to announce that its Chinese name has been changed to "CGN New Energy Holdings Co., Ltd." and its English name has been changed to "CGN New Energy Holdings Co., Ltd.". The stock short name for trading in the shares of the Company on the Main Board of The Stock Exchange of Hong Kong Limited will be changed to "CGN NEW ENERGY" in Chinese and "CGN NEW ENERGY" in English with effect from 9:00a.m. on 7 December 2015. The stock code of the Company remains unchanged as "1811". In addition, the U.S.$350,000,000 4.00 per cent. bonds due 2018 issued by the Company on 19 August 2013 will be traded under a new stock short name - the English stock short name will be changed from "CGN MEIYA B1808" to "CGN NE B1808" with effect from 9:00a.m. on 7 December 2015. The stock code of the bonds of the Company remains unchanged as "5964".
Positioned as sole global platform of China General Nuclear Power Corporation, Ltd. ("CGN") for development and operation of non-nuclear clean and renewable power generation projects, the Company focuses on acquiring clean and renewable power generation projects while continuing its own greenfield and brownfield developments. The new name of the Company will better reflect the Company as the sole global platform of CGN for development and operation of non-nuclear clean and renewable power generation projects. The Company has completed the acquisition of 13 wind power projects companies and 6 solar power projects companies with an aggregate operational installed capacity of approximately 1,400 MW and is focusing on the integration and assimilation of these wind and solar power assets with its existing projects. Currently, the proportion of clean and renewable energy power generation projects of the Company and its subsidiaries (the "Group") represents approximately 65% in terms of attributable installed capacity of the total attributable installed capacity of the Group's projects. This will allow the Group to add quality wind power and solar power assets to its portfolio on one hand, and, on the other hand, gain a solid foothold in the wind power and solar power generation sectors, which are in fast growth with strong government support in the PRC. Accordingly, the Board believes that the change of the name of the Company is in the interests of the Company and its shareholders as a whole.
In the future, the Group will continue to adhere to the working principle of "Doing Things Right in One Go", giving full play as CGN's sole global platform for development and operation of non-nuclear clean and renewable power generation projects, and will continue to selectively acquire clean and renewable power generation projects with solid returns from CGN. Meanwhile, CGN will fully support the Group with, among other things, strategic management, continuous supply chain, preferred option of non-nuclear clean energy assets and excellent talent. This will enable the Group to further expand its business scale and market share, which will in turn improve the competitiveness, profitability and shareholders' return of the Group, and accordingly, strive to become one of the independent clean and renewable energy power producers with excellent profitability in Asia.
Topic: Press release summary
Sectors: Daily Finance, Energy, Alternatives, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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