Kowloon Electric Power &Nbsp; Intends To Divest Non Environmental Assets.

Kowloon power (600292) announcement, the company's application for non-public issuance of A shares has been conditionally examined and approved. In addition, China Power Investment Corp, the controlling shareholder of the company, has made further commitments to avoid competition in the same industry. During the period of being a shareholder or actual controller of the Kowloon power company, the China Electric Power Investment Group or the actual control enterprise (except for Kowloon power) will not directly or indirectly participate in any business or activities that are competing with the Kowloon power industry in China or abroad.

China Electric Power Investment Group will build Kowloon electric power as the only platform for the development of environmental protection industry of CIC group. It agrees that within three years after the completion of the non-public offering, the non environmental assets of Kowloon electric power should be gradually acquired according to the related assets and capital market situation of Kowloon electric power and so on.

In recent years, the profitability of Kowloon power's environmental protection business has remained relatively stable, and the profitability of power generation business has been greatly affected by the rise in coal prices and other factors. The company believes that stripping off non environmental businesses is conducive to maintaining the company's continued profitability.