Recently, the capital increase and share expansion project of State Grid Xinyuan Holding Co., Ltd. ("State Grid Xinyuan") was successfully signed at the Beijing Equity Exchange. With a total investment of RMB 36.5 billion, this transaction marks the largest cash fundraising in the history of state-owned asset equity transactions.
State Grid Xinyuan is the platform company under State Grid Xinyuan Group of China responsible for constructing and operating pumped storage power stations. Currently, State Grid operates 75 pumped storage stations (in operation or under construction) with a total capacity of 94.04 million kilowatts, making it the world's largest operator in this sector. The raised funds will be fully allocated to pumped storage projects, driving growth in equipment manufacturing, construction, technology R&D, and related industries—providing a robust green engine for high-quality economic and social development.
As one of the key strategic investors, Harbour Life Insurance Co., Ltd. ("Harbour Life") leveraged its long-term, large-scale insurance capital advantages and collaborated with leading central state-owned enterprises, financial institutions, and other influential investors to participate in this landmark transaction.
Llinks, serving as legal counsel to Harbour Life, provided efficient, professional, and comprehensive legal support throughout the transaction, drawing on its deep expertise in insurance capital investment and financing.
Llinks Engagement Team
Yi Wang, partner
Muyang Zheng, contractual partner
Melissa Xu, Jiazhan Shi, associate
