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Asia

Shoucheng Unit Invests in Huatai Three Gorges Clean Energy REIT

Shoucheng (HKG:697) said a wholly owned subsidiary has invested in Huatai Three Gorges Clean Energy REIT, according to a Monday Hong Kong bourse filing.The REIT was listed on the Shanghai Stock Exchange after raising 4.01 billion yuan through the sale of 500 million units at 8.013 yuan each.It is backed by the Zhuanghe Phase III 300-megawatt offshore wind farm in Dalian, Liaoning province, operated by China Three Gorges Renewables (SHA:600905).Shares of the infrastructure investment and asset management company fell nearly 1% in recent trade.

HKG:0697SHA:600905
Asia

China Three Gorges Renewables Public Clean Energy REIT Lists in Shanghai

China Three Gorges Renewables' (SHA:600905) public clean energy real estate investment trust was listed on the Shanghai Stock Exchange on Friday, according to a Saturday bourse disclosure.The Huatai Three Gorges New Energy REIT raised 4.01 billion yuan from the offering of 500 million units at 8.013 yuan per unit.The listed company subscribed to 170 million units, while related party Three Gorges Capital Holdings subscribed for 50 million units or 44% of the total offering.Other strategic investors subscribed for 130 million units or 26% of the offering. Offline investors subscribed for 21% while other public investors took up the remaining 9%.

SHA:600905
Asia

China Three Gorges Renewables, China Yangtze Power Establish Renewable Power Generation JV

China Three Gorges Renewables (SHA:600905) will set up a 1-billion-yuan renewable power generation and distribution joint venture with China Yangtze Power (SHA:600900) and an investment arm, according to a Thursday filing with the Shanghai Bourse.Three Gorges Renewables will hold 34% of the Three Gorges Group Qinghai Energy Investment, equivalent to 340 million yuan while China Yangtze Power (SHA:600900) and Three Gorges Investment will hold 33% and invest 330 million yuan each in the JV.The JV will help increase solar, wind, and hydropower development in Qinghai, China.Shares in China Three Gorges Renewables slipped 1% during morning trading on Thursday.

SHA:600900SHA:600905
Asia

China Central SOEs Step Up Share Buybacks, Stake Purchases to Steady Capital Markets

China central state-owned enterprises have unveiled share repurchase plans or major shareholder stake increases, signaling strong confidence in their valuations and the broader market.China Three Gorges Renewables (SHA:600905) announced its controlling shareholder will acquire 1.5 billion to 3 billion yuan worth of shares via open-market purchases over the next year. Metallurgical Corp. of China (SHA:601618, HKG:1618) has repurchased over 146 million A-shares costing 415.4 million yuan and 25 million H-shares. Sinopec (SHA:600028, HKG:0386) bought back approximately 77.9 million A-shares since mid-June, totaling 365.4 million yuan.The moves align with regulatory efforts to stabilize capital markets. China's securities regulator will soon hold symposiums with securities firms, fund managers and listed companies to gather input for future policymaking.

Shanghai Composite^SZSEHKG:0386HKG:1618SHA:600028SHA:600905SHA:601618
Asia

China Three Gorges Renewables Expects H1 Profit to Jump By Up to 73%

China Three Gorges Renewables (SHA:600905) expects its net profit attributable to owners for the first half to drop by between 66% and 73% year on year to a range of 1.05 billion yuan to 1.30 billion yuan, according to a Shanghai bourse filing on Wednesday.The power company's attributable profit a year earlier was 3.82 billion yuan, or 0.13 yuan per share.The forecast was attributed to lower electricity sales and a decline in wind and solar resources due to abnormal temperatures and extreme weather events.

SHA:600905
Asia

China Three Gorges Renewables' Q2 Total Power Generation Rises 1%

China Three Gorges Renewables' (SHA:600905) total power generation in the second quarter rose 1.12% year on year to 19.7 billion kilowatt hours, according to a Shanghai bourse filing on Thursday.Solar power and standalone energy storage rose 5.44% and 6.83%, respectively, while wind power dropped 1.8% from a year earlier.The power generation for the first half rose 0.53% year on year to 39.5 billion kWh.The power company's shares slipped 1% during the morning trade.

SHA:600905
Asia

Three Gorges Renewables Q1 Profit Falls 57%, Revenue Down 9%

China Three Gorges Renewables (SHA:600905) posted first-quarter attributable net profit of 1.04 billion yuan, down 57% from 2.45 billion yuan the previous year.Earnings per share declined to 0.0364 yuan from 0.0855 yuan, according to a Thursday filing with the Shanghai bourse.The power company's operating revenue slid 8.9% year over year to 6.95 billion yuan from 7.63 billion yuan.

SHA:600905

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