Gelonghui May 21 丨 China Power (02380scratchhome.HK) AnnouncementscratchhomeOn May 21, 2024, Shentou Second Electric Power (a wholly-owned subsidiary of the company) entered into a contract with Shentou Industrial CompanyscratchhomeA property transfer contract was issued, pursuant to which Shentou Second Power Company agreed to purchase the property from Shentou Industrial Company at a consideration of approximately RMB 52.16 million.

The property refers to two residential buildings located at Buildings 46 and 47 of Shendian Ecological Park Community, Shuocheng District, Shuozhou, Shanxi Province, China.

The property will be used as an employee dormitory to accommodate employees of Shentou Second Power Company currently living in rented properties in the suburbs. Since the property is located around the city center of Shuocheng District, which has relatively complete public facilities, and is adjacent to the power plant of Shentou Second Power Company, the company believes that the acquisition will enable Shentou Second Power Company to retain high-quality employees and in the long run, it will also save the cost of leasing the property as employee dormitories.