Hunan Development: Issuance of shares and payment of cash to purchase assets and raise supporting funds approved

K-LinePoet · 2026-03-04T14:51:03+00:00

Hunan Development announced plans to acquire stakes in multiple companies through share issuance and cash payments, while also raising supporting funds from no more than 35 investors. The Shenzhen Stock Exchange Review Committee has reviewed and approved the plan, but registration still requires approval from the China Securities Regulatory Commission, and there is uncertainty.

K-LinePoet

2026-03-04 14:51:03

Abstract generation in progress

Hunan Development announced that the company plans to acquire an 85% stake in Hunan Xiangtou Yuánlíng Gaotan Power Generation Co., Ltd., a 90% stake in Hunan Xiangtou Tongwan Water Conservancy and Hydropower Development Co., Ltd., a 90% stake in Hunan Xiangtou Qingshuitang Hydropower Development Co., Ltd., and an 88% stake in Hunan Xinshao Xiaoxi Hydropower Development Co., Ltd., through issuing shares and paying cash. It will also issue shares to no more than 35 qualified specific investors to raise supporting funds. The Shenzhen Stock Exchange M&A Review Committee held its 3rd review meeting for 2026 on February 6, 2026, to review the company’s application for this transaction. According to the announcement of the review results issued by the Shenzhen Stock Exchange M&A Review Committee, the review concluded that: this transaction meets the restructuring conditions and disclosure requirements. The transaction still requires approval and registration from the China Securities Regulatory Commission. Whether the approval will be granted and the final registration date remain uncertain.

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