中信建投证券股份有限公司 关于 中国船舶工业股份有限公司换股吸收合并 中国船舶重工股份有限公司暨关联交易 之 独立财务顾问报告 独立财务顾问 二〇二五年六月 中信建投证券股份有限公司 关于中国船舶工业股份有限公司换股吸收合并中国船舶重工股份有限公司暨关联交易之独立财务顾问报告 声明和承诺 （三）截至本独立财务顾问报告出具之日，本独立财务顾问就本次交易事宜进行了 尽职调查，本独立财务顾问报告仅对已核实的事项向中国重工全体股东提供独立核查意 见。 （四）本独立财务顾问对本次交易重组报告书出具的独立财务顾问报告已经提交内 核机构审查，内核机构经审查后同意出具本独立财务顾问报告。 （五）本独立财务顾问同意将本独立财务顾问报告作为本次交易的法定文件，报送 相关监管机构，随本次交易重组报告书上报上海证券交易所并上网公告。 2 中信建投证券股份有限公司 关于中国船舶工业股份有限公司换股吸收合并中国船舶重工股份有限公司暨关联交易之独立财务顾问报告 （六）对于本独立财务顾问报告至关重要而又无法得到独立证据支持或需要法律、 审计/审阅、估值等专业知识来识别的事实，本独立财务顾问主要依据有关政府部门、 律师事务所、会计师事务所及其 ...

本次交易尚需上交所审核通过，并经中国证券监督管理委员会予以注册及相 关法律法规所要求的其他可能涉及的必要批准、核准、备案或许可（如需）后方 可正式实施，能否实施尚存在不确定性，有关信息均以公司指定信息披露媒体发 布的公告为准。敬请广大投资者关注后续公告并注意投资风险。 特此公告。 中国船舶重工股份有限公司 关于中国船舶工业股份有限公司吸收合并中国船舶重工股 份有限公司暨关联交易申请的审核问询函回复的公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国船舶重工股份有限公司（以下简称"中国重工"或"公司"）与中国船 舶工业股份有限公司（以下简称"中国船舶"）正在筹划由中国船舶向中国重工 全体换股股东发行A股股票的方式换股吸收合并中国重工（以下简称"本次交 易"），中国船舶为吸收合并方，中国重工为被吸收合并方。 近日，中国船舶、中国重工及相关中介机构对上海证券交易所（以下简称"上 交所"）出具的《关于中国船舶工业股份有限公司吸收合并中国船舶重工股份有 限公司暨关联交易申请的审核问询函》（上证上审（并购重组）〔2025〕31号） ...

| 证券代码：600150 | 证券简称：中国船舶 | 上市地：上海证券交易所 | | --- | --- | --- | | 证券代码：601989 | 证券简称：中国重工 | 上市地：上海证券交易所 | 中国船舶工业股份有限公司 换股吸收合并中国船舶重工股份有限公司 暨关联交易报告书（草案） （修订稿） 中国（上海）自由贸易试验区浦东大道 1 号 北京市海淀区昆明湖南路 72 号 吸并方 被吸并方 中国船舶工业股份有限公司 中国船舶重工股份有限公司 吸并方独立财务顾问 被吸并方独立财务顾问 二〇二五年六月 1-1-1 中国船舶工业股份有限公司换股吸收合并中国船舶重工股份有限公司暨关联交易报告书 公司声明 一、吸收合并双方及其全体董事、监事、高级管理人员保证本报告书及其摘要内容 的真实、准确、完整，并对其虚假记载、误导性陈述或重大遗漏负相应的法律责任。 二、吸收合并双方控股股东及全体董事、监事、高级管理人员承诺，如就本次交易 所提供或披露的信息因涉嫌虚假记载、误导性陈述或者重大遗漏，被司法机关立案侦查 或者被中国证监会立案调查的，在案件调查结论明确之前，将暂停转让各自在吸收合并 双方拥有权益的股份，并于收到 ...

Group 1 - The Shanghai Composite Index opened lower and the CSI 300 Machinery Manufacturing Index reported 5700.09 points, with a decline of 3.85% over the past month, 9.77% over the past three months, and 0.92% year-to-date [1] - The CSI 300 index categorizes its 300 sample stocks into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries, providing analytical tools for investors [1] - The top ten weights in the CSI 300 Machinery Manufacturing Index are: Huichuan Technology (16.04%), Sany Heavy Industry (14.32%), CRRC Corporation (11.82%), Weichai Power (11.25%), China Shipbuilding (9.39%), XCMG (8.67%), China Heavy Industry (6.91%), Hengli Hydraulic (4.86%), Zoomlion (4.79%), and Yutong Bus (4.41%) [1] Group 2 - In terms of industry composition, the CSI 300 Machinery Manufacturing Index consists of 27.78% in engineering machinery, 19.65% in shipbuilding and other shipping equipment, 16.59% in commercial vehicles, 16.04% in electric motors and industrial automation, 15.09% in urban railways, and 4.86% in fluid machinery [2] - The index samples are adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 index samples or significant events affecting sample companies [2]

Core Viewpoint - The A-share market has undergone a series of index adjustments effective from June 16, impacting various indices including the Shanghai Composite and Shenzhen Composite indices, with a total of 187 sample changes across six cross-market indices [1][3][4]. Group 1: Index Adjustments - The Shanghai and Shenzhen indices have collectively replaced 61 samples, with the Shanghai 50 index changing 4 samples, the Shanghai 180 index changing 18 samples, the Shanghai 380 index changing 38 samples, and the Sci-Tech 50 index changing 1 sample [21][30]. - The six cross-market indices have replaced a total of 187 samples, with the CSI 300 index changing 7 samples, the CSI 500 index changing 50 samples, and the CSI 1000 index changing 100 samples [4][19]. Group 2: New Index Launch - The Shanghai 580 index has been officially launched, focusing on smaller market capitalization stocks within the Shanghai market, reflecting the overall performance of smaller listed companies [2][31]. - Approximately 30% to 60% of the sample weight in the Shanghai 580 index is attributed to sectors such as the Sci-Tech board, specialized and innovative companies, private enterprises, and emerging industries, highlighting its innovative small-cap characteristics [33]. Group 3: Industry Representation - The adjustments have led to an increase in the representation of information technology, communication services, and industrial sectors within the indices, enhancing market representation [18][19]. - The manufacturing sector's weight in the Shenzhen Component Index remains high at 73%, with 211 companies projected to achieve revenue and profit growth in 2024 [30].

Core Viewpoint - The China Securities Shipping Index (CS Shipping, 930718) is currently at 1812.99 points, reflecting a slight decline in the shipping sector over the past month, while showing a modest increase over the last three months [1][2]. Group 1: Index Performance - The CS Shipping Index has decreased by 0.41% over the past month, increased by 3.52% over the last three months, and has declined by 1.08% year-to-date [2]. - The index is designed to represent the overall performance of listed companies in the shipping industry, including sectors such as waterway transportation, port operations, shipbuilding, container manufacturing, and freight forwarding [2]. Group 2: Index Composition - The top ten weighted companies in the CS Shipping Index are: COSCO Shipping Holdings (11.55%), China Shipbuilding Industry (9.29%), China State Shipbuilding (8.73%), China Power (4.97%), China Merchants Energy Shipping (4.44%), Shanghai Port Group (3.35%), COSCO Shipping Energy (3.08%), China International Marine Containers (2.99%), Ningbo Port (2.93%), and HaiLanXin (2.58%) [2]. - The index is primarily composed of companies listed on the Shanghai Stock Exchange, which accounts for 82.62% of the index, while the Shenzhen Stock Exchange accounts for 17.38% [3]. Group 3: Index Adjustment Mechanism - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December each year [4]. - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [4].

Core Viewpoint - The company has provided a guarantee of 30 million yuan for its wholly-owned subsidiary, Dalian Shipbuilding Industry Co., Ltd., to support its operations through non-financing activities such as bank acceptance bills and guarantees [1][2]. Summary by Sections New Guarantee Overview - In May 2025, the company provided a guarantee of 30 million yuan for Dalian Shipbuilding Industry Co., Ltd. to issue bank acceptance bills and guarantees, with a counter-guarantee from the subsidiary [2]. - The total amount of guarantees provided by the company to its subsidiaries as of May 31, 2025, is 1.561 billion yuan, accounting for 1.86% of the company's most recent audited net assets [1][7]. New Guarantee Progress - The new guarantee is within the limit approved by the company's board and shareholders, which allows for a cumulative guarantee limit of 1.92 billion yuan for subsidiaries [2][7]. Guarantee Agreement Details - The guarantee provided is a joint liability guarantee, with the duration determined through negotiation with creditors based on actual operational needs [6]. Reasonableness and Necessity of the Guarantee - The new guarantee is aimed at meeting the daily operational needs of the subsidiary, facilitating normal business operations without harming the interests of the company and its shareholders [6]. Board of Directors' Opinion - The board has confirmed that all guarantees provided are within the approved limits and do not pose risks to the company's operations [7]. Cumulative External Guarantee Amount - As of May 31, 2025, the total external guarantees provided by the company amount to 1.561 billion yuan, with no overdue guarantees reported [7].

重要内容提示： 证券代码：601989 证券简称：中国重工 公告编号：临 2025-031 中国船舶重工股份有限公司 关于为所属子公司提供担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 本次担保人为公司全资子公司大连船舶重工集团有限公司（以下简称"大 连造船"），被担保人为大连造船的全资子公司大连船舶重工船业有限公司（以下简 称"大船船业"），不涉及公司关联人。 2025 年 5 月，大连造船因大船船业开具银行承兑汇票、保函等非融资性事 项为其提供担保 0.3 亿元，大船船业提供了反担保。 截至 2025 年 5 月 31 日，公司对所属子公司（全部为全资子公司，下同） 提供的担保余额合计为 15.61 亿元，占公司最近一期经审计净资产的 1.86%。 公司无逾期对外担保情况。 中国船舶重工股份有限公司（以下简称"公司"）分别于 2025 年 1 月 24 日、2025 年 2 月 18 日召开第六届董事会第八次会议和 2025 年第一次临时股东大会，审议通过 了《关于 2025 年度为所属子公司提供新增担保额 ...

Group 1 - The core viewpoint is that the implementation of the "Six Merger Guidelines" has significantly boosted the merger and acquisition (M&A) market in Shanghai, with a total of 134 disclosed M&A transactions amounting to 241.9 billion yuan since its release [1] - The Shanghai government has introduced the "Shanghai Action Plan" to support M&A activities, aiming to establish Shanghai as a leading area for M&A by 2027, with a focus on enhancing industrial capabilities and creating a robust M&A ecosystem [2] - The M&A activities are increasingly focused on new productive forces, with over 70% of new transactions related to industries such as integrated circuits, biomedicine, and artificial intelligence, indicating a strong trend towards technological innovation [3] Group 2 - There is a strong demand for industrial transformation and upgrading, with companies seeking to consolidate their market positions through M&A as a means to enhance competitiveness [4] - Companies facing growth bottlenecks are also pursuing external acquisitions to create new growth avenues, indicating a strategic shift in their business models [5] - The M&A ecosystem is being rapidly cultivated, with efforts to improve the service levels of intermediary institutions and support securities companies in enhancing their core competitiveness through M&A [6] Group 3 - The recent revision of the "Major Asset Restructuring Management Measures" is expected to further invigorate the M&A market in Shanghai, with a focus on promoting typical demonstration cases to enhance innovation capabilities and industrial levels [7]

Core Points - The company announced a cash dividend of RMB 0.018 per share (before tax) for the fiscal year 2024, totaling approximately RMB 410.44 million [1][2][3] - The dividend distribution plan was approved at the company's annual shareholders' meeting on May 28, 2025 [1] - The dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the record date [1][2] Distribution Plan - The total share capital used for the dividend calculation is 22,802,035,324 shares [1] - The cash dividend will be distributed through the clearing system of the China Securities Depository and Clearing Corporation Limited [1][2] - Shareholders who have not completed designated trading will have their dividends held by the clearing company until the trading is completed [1] Taxation Details - For individual shareholders and securities investment funds, no withholding tax will be deducted at the time of dividend distribution [3] - The actual tax burden for individual shareholders varies based on the holding period, with a maximum tax rate of 20% for holdings of one month or less [3] - For qualified foreign institutional investors (QFII), a 10% withholding tax will be applied, resulting in a net dividend of RMB 0.0162 per share [4] Additional Information - The company will handle the cash dividend distribution for certain major shareholders directly [2] - Other institutional investors are responsible for their own tax declarations, with a gross dividend of RMB 0.018 per share [5] - For inquiries regarding the dividend distribution, shareholders can contact the company's board office [6]