Great Wall Electric established a subsidiary and exchanged shares

Great Wall Electric recently announced the establishment of a joint-stock subsidiary called Xinyuan Power (Hebei) Co., Ltd. This subsidiary will replace the original Xinyuan Power Co., Ltd. and become its wholly-owned subsidiary. Great Wall Electric established Hebei Xinyuan together with other shareholders by exchanging its 6.39% stake in Xinyuan Power for the equity of Hebei Xinyuan. Hebei Xinyuan's registered capital is 244,203,113 yuan, while Great Wall Electric's capital contribution is 15,600,981 yuan.