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China Longyuan Power to Inject 161 Million Yuan Into Guoneng Tengxian; Shares Slip 3%

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China Longyuan Power (HKG:0916, SHE:001289) will invest 161.3 million yuan in subsidiary Guoneng Tengxian Energy Development as part of a 316.3 million yuan capital increase alongside shareholder CHN Energy Guangxi, according to a Friday Hong Kong bourse filing.

CHN Energy Guangxi will contribute the remaining 155 million yuan, maintaining its 49% stake.

The funds will be used mainly for construction, installation works, and equipment procurement for six wind power projects with a combined installed capacity of 820 megawatts.

The capital increase is expected to be completed by March 31, 2027.

Shares of the power company were down over 3% in Hong Kong.

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