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Jiangsu Guoxin Subsidiary to Exit Yizheng Thermal Power Stake

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Jiangsu Guoxin (SHE:002608) indirectly controlled subsidiary Yizheng Thermal Power will exit its 28% stake in Haoyi New Energy, according to a Tuesday filing with the Shenzhen bourse.

Under a targeted capital reduction, Haoyi New Energy will cut its registered capital to 17 million yuan from 80 million yuan, with Yizheng Thermal Power reducing its subscribed contribution by 22.4 million yuan and recovering consideration based on paid-in capital.

Shares of the electricity company closed 2% lower Tuesday.

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