Wolong Electric (600580) announced the evening of November 30, intends to transfer its holding subsidiary of Wolong Electric Yinchuan Transformer Co., Ltd. (hereinafter referred to as "Yinchuan Transformer") 92.5% of the shares of Wolong Electric Co., Ltd. (hereinafter referred to as "Yinchuan Transformer" (Hereinafter referred to as "Red Power"), the initial 92.5% stake in the transfer price of RMB 1,082,250,000, of which 70% of the red-phase power to pay shares, will receive the corresponding shares (hereinafter referred to as the red-phase power) 44,906,639 shares; 30% in cash, the corresponding cash will be 324,675,000.07 yuan. (China Securities Journal)