On 29 August 2013, the application filed by Zhejiang Southeast Electric Power Co., Ltd. (stock code as 900949.SH, “ZSEPC”) for material assets restructure was reviewed and approved by the M&A and Restructure Committee of CSRC.

Prior to this restructure, Zhejiang Energy held 39.8% of equity in ZSEPC being the largest shareholder. The restructure has not only solved the existence problem of ZSEPC but realized the overall listing of Zhejiang Energy in A-share market. ZSEPC's successful conversion to an A-share listed company will set a good example for other B-share companies.

Grandall Shanghai Office has been retained as the counsel to financial advisor of the merging party with Ms. WU Xiaoliang and her team being key lawyers servicing the case.