Economic Observation Network Datang Power (00991. HK)'s private placement application has been accepted by the Shanghai Stock Exchange, and it plans to elect new directors and issue multiple bonds in the near future to reduce financing costs.

Private placement stocks:
The application to issue A-shares to specific targets has been accepted by the Shanghai Stock Exchange on August 20th. The controlling shareholder Datang Group plans to subscribe for 20% (not exceeding 1.6 billion yuan) and invest the funds in four power plant expansion projects, including Fuzhou and Lusigang This is the largest equity financing action of the company in recent years.

Election of company executives:
On August 24th, the temporary shareholders' meeting information was disclosed, proposing to elect Sun Yanwen as a director (current general manager and acting chief accountant), while the original director Pang Xiaojin resigned due to work adjustments The management handover period needs to be noted.

Financial situation:
On August 20th, 2 billion yuan of medium-term notes (with a coupon rate of 1.51%) were issued, followed by 2.5 billion yuan of renewable corporate bonds (with a coupon rate of 1.77%) and 2 billion yuan of ultra short financing (with a coupon rate of 1.34%). The comprehensive financing cost has been reduced to 2.28% (a year-on-year decrease of 15 basis points) The low-cost financing environment is favorable for thermal power heavy asset enterprises.

The above content is based on publicly available information and does not constitute investment advice.