September 6 -- Guodian Changyuan Electric Power  filed that two of its subsidiaries signed 6.28 million yuan worth of contracts with Nanjing Guodian Environmental Protection Equipment concerning a boiler electrostatic precipitator upgrade program, reports yicai.com.

Guodian Environmental Protection is controlled by the State Power Environmental Protection Research Institute, which is wholly owned by Changyuan’s parent, China Guodian Group. The deals are thus considered related-party transactions.

Guodian Environmental Protection specializes in environmental protection and related businesses. Its net assets totaled 36.77 million yuan through the end of 2010. It earned revenue of 110 million yuan and net profit of 16.72 million yuan last year.

Source:capitalvue