Linyang Energy: Sale of subsidiary equity is expected to generate over 10% of net profit in 2024.

2026-04-04 17:17:48

Linyang Energy announced that its wholly owned subsidiary, Linyang New Energy, plans to transfer the 100% equity interest it holds in Qidong Hualsheng New Energy Technology Co., Ltd. to Shanghai Datun Energy Co., Ltd. for RMB 421 million, with the project transaction total price of RMB 2.071 billion. After the transaction is completed, Qidong Hualsheng New Energy Technology Co., Ltd. will no longer be included in the company’s consolidated financial statements. Based on calculations, and after considering factors including gains and losses from the equity transfer and profits from the project BT revenue, the overall profit expected to be generated from this transaction is estimated to exceed the company’s audited net profit for 2024 by more than 10%.

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