---
title: "GDG's subsidiary plans to participate in the auction for a 50% stake in China Electric Power Construction (Fumin) Pumped Storage Development Co., Ltd"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/263707844.md"
description: "Guangzhou Development's wholly-owned subsidiary, Guangzhou Development Power Group Co., Ltd., plans to participate in the bidding for a 50% stake in China Electric Power Construction (Fumin) Pumped Storage Development Co., Ltd., with a transfer base price of 53.2284 million yuan. This move aims to support national strategies, promote the \"dual carbon\" goals, and facilitate the company's industrial transformation and upgrading as well as collaborative development"
datetime: "2025-10-31T10:04:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/263707844.md)
  - [en](https://longbridge.com/en/news/263707844.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/263707844.md)
---

# GDG's subsidiary plans to participate in the auction for a 50% stake in China Electric Power Construction (Fumin) Pumped Storage Development Co., Ltd

According to the announcement from GDG (600098.SH), in order to implement the national strategy, achieve the "dual carbon" goals, and build a new power system, as well as to secure quality pumped storage project resources to promote the company's industrial transformation and collaborative development, the company's wholly-owned subsidiary, Guangzhou Development Power Group Co., Ltd. (referred to as "Power Group"), intends to participate in the bidding for a 50% equity stake in China Energy Engineering Group (Fumin) Pumped Storage Development Co., Ltd. (referred to as "Fumin Company"), with a transfer base price of 53.2284 million yuan

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