Shanghai Electric Power Plans Related-Party Transaction


November 9 -- Power generation company Shanghai Electric Power (600021.SH) said its sub-subsidiary, Yancheng Thermal Power Corporation, plans to sell a 35 percent stake in Yancheng Thermal Power Co., Ltd. to parent, China Power Investment Corporation, for 45.62 million yuan, reports, citing a company filing.

Yancheng Thermal Power Co., Ltd. has a registered capital of four million yuan. Total assets and net assets through the end of June were 230 million yuan and 130 million yuan,  respectively.

The company lost 1.69 million yuan in the first half on revenue of 67.09 million yuan.

Shares of Shanghai Electric Power dropped 0.96 percent to trade at 5.18 yuan at 10:14 today.


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