Kinetic Development Group(01277.HK): Completes Acquisition of Taiyuan Shidi

NewTimeSpace · 2026/07/09 17:15 · By Zeyu Wu

NewTimeSpace News: Kinetic Development Group announced on 9 July that Taiyuan Administrative Approval and Service Administration officially approved the transfer of 100% equity interest in Taiyuan Shidi to Power Shanxi on 8 July. The completion of the acquisition transaction was settled on the same date, and Taiyuan Shidi has become an indirect wholly-owned subsidiary of the Group.

NewTimeSpace News: On 9 July 2026, Kinetic Development Group(01277.HK) issued an announcement. Taiyuan Administrative Approval and Service Administration formally approved the transfer of 100% equity interest in Taiyuan Shidi to Power Shanxi, the Group’s indirect wholly-owned subsidiary, on 8 July, with the acquisition settlement completed on the same day.

Upon completion, Taiyuan Shidi has become an indirect wholly-owned subsidiary of the Group. The RMB 803 million advance payment made by Power Qinhuangdao to the vendor for the target property under the 2022 Property Purchase Agreement has been fully offset in batches through the acquisition of other assets from relevant companies.

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