China Huaneng Establishes Nuclear Energy Company in Shandong with 25% Private Capital

en.Wedoany.com Reported - On November 3, Huaneng Shidao Bay (Shandong) Second Nuclear Energy Co., Ltd. was established in Rongcheng, Weihai, Shandong Province, with registered capital of RMB 100 million. The new company is controlled by Huaneng Nuclear Power Development Co., Ltd. with a 51% stake, while four Shandong private enterprises have been brought in with a combined 25% stake. The company has a total of seven shareholders, forming an ownership structure in which a central state-owned enterprise, local state-owned capital and private capital participate jointly.

Business registration information shows that the legal representative of the new company is Zhang Yanxu, and its business scope includes power generation, power transmission, power supply and distribution, heat production and supply, construction engineering and port operations, as well as seawater desalination treatment, technology development and technical services.

In the ownership structure, Huaneng Nuclear Power Development Co., Ltd. holds 51%, Weihai Recheng Energy Investment Co., Ltd. holds 14%, and State Nuclear Power Technology Corporation Ltd. holds 10%, with the three state-owned enterprises holding a combined 75%. The private shareholders include Fuhai Group New Energy Holding Co., Ltd., Shandong Refining & Chemical Energy Group Co., Ltd., Dishang Group Co., Ltd. and Xunshan Group Co., Ltd.

Among the four private enterprises, Fuhai Group New Energy Holding Co., Ltd. and Shandong Refining & Chemical Energy Group Co., Ltd. each hold 7.5%, corresponding to subscribed capital contributions of RMB 7.5 million each; Dishang Group Co., Ltd. and Xunshan Group Co., Ltd. each hold 5%, corresponding to subscribed contributions of RMB 5 million each. The four enterprises have subscribed a total of RMB 25 million in registered capital.

The industrial composition of the participating enterprises covers petrochemicals, energy trading, textiles and apparel, and marine industries. Fuhai Group New Energy Holding Co., Ltd. is located in Dongying, Shandong; Shandong Refining & Chemical Energy Group Co., Ltd. is an energy and chemical platform under the Dongming Petrochemical system; Dishang Group and Xunshan Group are both located in Weihai, engaged respectively in textile and apparel supply chain operations and in marine seed industry, aquaculture and food processing.