What is the relationship between Xiamen Lide Group and State Grid?

Subsidiary company. According to official website's inquiry, Xiamen Lide Group was originally a collective asset management platform under the State Grid Xiamen Power Supply Company. In April, 2020, the construction of capital ties between provincial industrial units was completed, and it was changed into a wholly-owned industrial company of Fujian Yili Group Co., Ltd., and it was also an industrial management platform of Xiamen, which centralized managed the core resources of people, finance and materials of subordinate industrial units, and centralized managed safety production, marketing services and operations.