Asia
Xinjiang Tianfu Energy Units to Merge to Cut Costs, Streamline Structure
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.
SHA:600509
