Minjiang hydropower held the first extraordinary general meeting of shareholders in 2020 on February 11. After considering the plan of changing the company's name, "Sichuan Minjiang water conservancy and Power Co., Ltd." will be changed to "State Grid Information and Communication Co., Ltd.". English name changed from "Sichua Minjiang hydropower Co., Ltd." to “STATE GRID INFORMATION&COMMUNICATION CO.,LTD.”。 The name has been pre approved by the supervision and Management Department of the shopping mall. The notice pointed out that, in view of the completion of the major property restructuring of Minjiang hydropower, the company's first business has been transformed into a new information and communication business. The business scope of the company has changed. In order to cooperate with the company's practice, the company plans to change its business scope. After the change of business scope, the new business scope includes: engineering design; software development; value-added telecommunication services; skill development, skill promotion, skill transfer, skill consultation, skill service; professional contracting; security engineering; retail computer and accessories, mechanical equipment, instruments and meters, electronic products, communication equipment; import and export of goods, skill import and export; computer Skills training. It is reported that Minjiang hydropower previously issued a notice that the plan and State Grid's wholly-owned subsidiary, State Grid Xintong, launched this restructuring. The company plans to take all the properties, liabilities and affairs except the preserved properties as the disposal properties, and replace them with the equivalent parts of 67.31% shares of CLP Feihua, 100% shares of Jiyuan software, 100% shares of CLP Puhua and 75% shares of CLP Qixing held by the information industry group. Minjiang hydropower purchases the difference part of major property replacement from the information industry group by issuing shares. Together, the company purchased 5% and 27.69% shares of CLP Feihua from Longdian group and Tibet Longkun. In addition, the company purchased the 25% equity of CLP star from wells Canada by cash payment. So far, the property restructuring has been approved by the CSRC. On December 20, 2019, State Grid Information and communication industry group and Minjiang hydropower carried out a signing and delivery ceremony for this property restructuring. In response to this property restructuring, Wang Zhengtao, chairman of state grid communication industry group, pointed out that the listed companies will actively give play to the professional, technical and industrial advantages of the listed companies, strengthen the integrity, coordination and integration of affairs, continue to improve the integrated service ability of "cloud network integration", and strive to become the first-class "cloud network integration" in China Skilled product providers and operators. Together, as the listed capital operation channel of state grid communication industry group, the group will give full support to the listed companies to grow bigger and stronger, provide strong guarantee for the operation of the listed companies, and promote the innovation of new skills, new products and new business forms of the listed companies.
