SPICYD's application for the issuance of new shares related to the acquisition has been approved by the Shanghai Stock Exchange
SPICYD announced that the company plans to acquire a 63% stake in Wuling Power held by China Power International Development Limited, a 37% stake held by Hunan Xiangtou International Investment Co., Ltd., and a 64.93% stake held by State Power Investment Corporation Guangxi Electric Power Co., Ltd. through a private placement of shares and cash payment. At the same time, the company plans to issue shares to no more than 35 specific investors to raise matching funds. The Shanghai Stock Exchange's review committee has approved the transaction application on September 17, 2025, deeming it to meet the restructuring conditions and information disclosure requirements
According to the Zhitong Finance APP, SPICYD (600292.SH) announced that the company intends to purchase 63% of the shares of Wuling Power Co., Ltd. (hereinafter referred to as "Wuling Power") held by China Power International Development Limited through the issuance of shares and cash payment, purchase 37% of the shares of Wuling Power held by Hunan Xiangtou International Investment Co., Ltd., and purchase 64.93% of the shares of State Power Investment Corporation Guangxi Changzhou Hydropower Development Co., Ltd. held by State Power Investment Corporation Guangxi Electric Power Co., Ltd. The company also plans to issue shares to no more than 35 qualified specific investors to raise supporting funds.
The Mergers and Acquisitions Review Committee of the Shanghai Stock Exchange held the 16th Mergers and Acquisitions Review Committee meeting of 2025 on September 17, 2025, to review the company's application for this transaction. According to the announcement of the results of the 16th review meeting of the Mergers and Acquisitions Review Committee of the Shanghai Stock Exchange in 2025, the review result of this meeting is that this transaction meets the restructuring conditions and information disclosure requirements
