Xinao Energy (02688) plans to issue asset-backed securities totaling no more than 4 billion yuan

Zhitong Finance App News, Xinao Energy (02688) issued an announcement. Recently, it has received a letter of no objection from the Shenzhen Stock Exchange regarding the company's intention to establish the “Xinao Pan-Energy Phase 1-8 Carbon Neutrality Green Asset Support Special Program” (Asset-Backed Securities Program) and apply for listing. The underlying assets of the asset-backed securities plan are shares in several distributed photovoltaic power generation projects and energy storage project companies held by Xinao (China) Gas Investment Co., Ltd., with CITIC Construction Investment Securities Co., Ltd. and Huatai Securities (Shanghai) Asset Management Co., Ltd. acting as plan managers. The plan manager will issue securities (asset-backed securities) backed by this underlying asset to investors, and will be jointly responsible for the management and execution of the asset-backed securities plan. The asset-backed securities program aims to further optimize the assets and financing structure of the company and its subsidiaries.

According to the above letter of no objection, the total amount of the asset-backed securities plan to be issued does not exceed RMB 4 billion. Asset-backed securities can be issued in installments, with no more than 8 installments, and principal and interest will be paid from the cash flow generated from the underlying assets held by the project company. The company expects the initial issuance scale to be approximately RMB 608 million, and plans to list the relevant asset-backed securities on the Shenzhen Stock Exchange. The final issuance scale, period and other terms of asset-backed securities will be determined according to market conditions at the time of issuance.