China Power (02380.HK): Signs Desulfurization Project Contract Worth About RMB 220 Million, Constitutes Connected Transaction

NewTimeSpace News: On July 2, 2026, China Power (02380.HK) released an announcement on connected transaction. Yuanda Engineering and Yuanda Water Affairs, indirect subsidiaries of the company, jointly undertook the general contracting work for desulfurization system construction of the Liutang coal-fired power project awarded by Shandong Institute.

The contractor is responsible for full-process services including project survey and design, equipment procurement, construction and installation, commissioning and operation, as well as post-completion defect rectification. The total contract value stands at RMB 219.9 million. Located in Guizhou, this project is an ultra-supercritical coal-fired power generation project with an installed capacity of 1,320 megawatts. Due to shareholding links with State Power Investment Corporation, the ultimate controlling shareholder, this transaction constitutes a connected transaction. As the applicable percentage ratios fall between 0.1% and 5%, only public announcement is required without approval from independent shareholders.

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