China Heavy Industries announced that recently, the State Council's State-owned Assets Administration Commission and other competent authorities agreed in principle to the share exchange, absorption and merger plan between the company and China Shipbuilding Corporation. The transaction constituted a major asset restructuring, as well as a related transaction. After the transaction is completed, China Heavy Industries will terminate its listing and cancel its legal personality. As the surviving company, China Shipbuilding will still be the actual controller of China Shipbuilding Group Co., Ltd., and the final controller will still be the State Council's State-owned Assets Supervision and Administration Commission.

China Heavy Industries announced that recently, the State Council's State-owned Assets Administration Commission and other competent authorities agreed in principle to the share exchange, absorption and merger plan between the company and China Shipbuilding Corporation. The transaction constituted a major asset restructuring, as well as a related transaction. After the transaction is completed, China Heavy Industries will terminate its listing and cancel its legal personality. As the surviving company, China Shipbuilding will still be the actual controller of China Shipbuilding Group Co., Ltd., and the final controller will still be the State Council's State-owned Assets Supervision and Administration Commission.