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Xinjiang Tianfu Energy Units to Merge to Cut Costs, Streamline Structure

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Xinjiang Tianfu Energy (SHA:600509) subsidiary Manas County Kenswat Hydropower will absorb another arm, Manas Tianfu Hydropower, to streamline management structure and reduce operating costs, according to a Wednesday filing with the Shanghai bourse.

Manas Water Conservancy, a hydropower generation company, held a negative equity of 60.2 million yuan and a loss of 4.8 million yuan as of the first quarter.

Kenswat will inherit the assets, claims, debts, businesses, personnel, and all other rights and obligations of Manas.

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