CHINA RES POWER (00836) has announced that on April 30, 2026, China Asset Management and CITIC Securities submitted application materials to the China Securities Regulatory Commission and the Shenzhen Stock Exchange for the registration and listing of a public fund. The underlying asset for the infrastructure REIT is the Jiaozuo Coal-Fired Power Plant located in Jiaozuo City, Henan Province, China, which is owned by the project company. As of the date of this announcement, the project company is a wholly-owned subsidiary of CHINA RES POWER Holdings Limited.

In connection with the proposed spin-off, China Asset Management, acting as the public fund manager, will establish a public fund to serve as a publicly listed infrastructure securities investment fund. It is currently estimated that the public fund will raise approximately RMB 3.103 billion. Upon the proposed listing, CHINA RES POWER Holdings Limited and its affiliates under the same control will act as strategic investors, subscribing for approximately 51% of the total issued fund units.

As part of the proposed spin-off and in accordance with applicable Chinese laws and regulations, an asset-backed specific plan will be established by the plan manager. After the public fund is established, it will use the proceeds to subscribe for all the interests in the asset-backed specific plan. Subsequently, the asset-backed specific plan will use the subscription funds to acquire the entire equity interest in the project company from the group. Following the completion of this acquisition, the project company will be 100% held by the infrastructure REIT and will continue to be a subsidiary of the company.

After the proposed spin-off, the infrastructure REIT will be consolidated into the company's financial statements. The public fund manager, the project company, and the operations management agency will enter into an operations management service agreement. Under this agreement, the operations management agency will provide operational and management services for the project, including administrative support. The infrastructure REIT will pay an operations management fee for these services.