Jiawei Renewable Energy's (300317.SZ) Subsidiary Plans to Acquire 100% Equity in Yuxian Lufeng-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Jiawei Renewable Energy's (300317.SZ) Subsidiary Plans to Acquire 100% Equity in Yuxian Lufeng

Stock News2025-12-16

Jiawei Renewable Energy Co., Ltd. (300317.SZ) announced that its wholly-owned subsidiary, Jiawei (Shanghai) Solar Power Co., Ltd. ("Shanghai Jiawei"), intends to acquire a 100% stake in Yuxian Lufeng New Energy Technology Co., Ltd. ("Yuxian Lufeng") from Zhangjiakou Lufeng New Energy Technology Co., Ltd. ("Zhangjiakou Lufeng") for RMB 1.

The acquisition stems from prior business cooperation and subsequent accounts receivable recovery issues between the company's controlling subsidiary and the target company. The specific background is as follows:

In March 2023, Shenzhen Jiawei Green Energy Construction Co., Ltd. ("Jiawei Green Energy"), a controlling subsidiary of the company, signed an EPC contract with Yuxian Lufeng for the Yuxian Hengchang Grid-Parity 100MW Photovoltaic Power Generation Project, with a total contract value of RMB 616 million (including tax). The project was fully completed and met acceptance standards by August 2024. As of the announcement date, Yuxian Lufeng still owes Jiawei Green Energy RMB 194 million in unpaid project fees.

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