Recently Beijing Jingneng Clean Energy Co., Ltd. (00579.HK, “Jingneng”) has completed its cross-border equity swap project, and Grandall Beijing provided legal services in Jingneng’ swap of its equity in Beijing Jingneng Power Co., Ltd. (600578.SH), its parent company, with Beijing Energy Group Co., Ltd., a company directly under Beijing State-owned Assets Supervision and Administration Commission, for assets thereof. The total amount of the project is approximately RMB 4 billion.

Jingneng was established in August 2010 and listed on the mainboard of Hong Kong Stock Exchange on 22 December 2011. It serves as an investment operation platform for the holding company of Beijing Energy Group Co., Ltd. and clean energy projects. By the end of 2021, Jingneng’s registered capital was RMB 8.244 billion and total assets RMB 81.987 billion. As the largest gas-fired thermal power supplier in Beijing, it operates a number of wind power concessions, photovoltaic runner and other industry landmark projects, with the total installed capacity of wind power and photovoltaic projects ranking steadily among the top local state-owned enterprises. 

Grandall Beijing Office has been retained by Jingneng as its Chinese legal counsel with YANG Juan, YAO Chengchen, ZHAI Hao, FANG Wenjuan and FENG Xiaojun as key lawyers serving the case.