The open tender for the service project to migrate the power monitoring SIS systems of Units 1 through 6 of Guoneng Changyuan Hanchuan Power Generation Company, a wholly owned subsidiary of China Energy Changyuan Electric Power, into the fourth-phase Xinchuang SIS system has been won by related party Guoneng Xinkong Technology at a bid price of 4.76176 million yuan. Guoneng Xinkong is an enterprise controlled by the controlling shareholder China Energy Investment Corporation, constituting a related-party transaction. Because this transaction was generated through an open tender, it does not require submission to the board of directors for review, nor does it need shareholder approval. Guoneng Xinkong is a leading enterprise in the smart enterprise field for large domestic thermal power plants, with operating revenues of 1.574 billion yuan, 2.065 billion yuan, and 2.404 billion yuan over the past three years. Upon completion, the project will form fixed assets and will not have a material impact on the company's current assets, liabilities, or profits and losses. From the beginning of this year to the disclosure date, the cumulative related-party transactions between the company and the controlling shareholder have amounted to approximately 3.632 billion yuan.
CHN Energy Changyuan Electric Power Co LtdRelated-party transaction for SIS system migration awarded to controlling shareholder's subsidiary; no material impact on financials, but cumulative related-party transactions are large.
Wins a 4.76 million yuan service contract from a related party, adding to revenue.
Wholly owned subsidiary awards the contract; no material impact on its own financials.
Controlling shareholder's subsidiary wins the contract; transaction is related-party but not material to the parent.