Huadian Xinneng announced that Huaxin SDIC, a wholly-owned overseas subsidiary of the company, plans to target the issuance of no more than RMB 2.3 billion of overseas preferred shares, all of which will be subscribed by the related party Huadian Marine, and the funds raised will be used to redeem existing preferred shares and replace loan financing. This time, preferred shares are not redeemable for the first 5 years. The dividend rate is fixed at 3.25% for the first 5 years, reset at 3.25% plus 3% for the past 5 years, and the pricing is fair upon inquiry. This matter constitutes a related transaction and does not constitute a major asset restructuring. It has been reviewed and approved by the company's board of directors, and there is no need to submit it to the shareholders' meeting for consideration.

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