Core Viewpoint - The company announced that its subsidiary, Hangzhou Turbine Casting and Forging Co., Ltd., supplies gas turbine product-related castings and forgings to the company [2] Group 1 - The company is involved in the production of gas turbine components through its subsidiary [2]

Core Viewpoint - The conference highlighted Hangzhou Steam Turbine's advancements in heavy-duty gas turbine technology, strategic layout in smart energy, and the significant progress of the "B to A" transition, attracting attention from both industry professionals and capital market investors [1][4]. Group 1: Company Achievements - Hangzhou Steam Turbine has made significant technological breakthroughs, including the successful ignition of a domestically developed 50MW heavy-duty gas turbine, which fills a gap in the domestic market and enhances the high-end equipment manufacturing sector [2]. - The company has evolved from a single equipment manufacturer to a comprehensive service provider, integrating R&D, production, and service across various industries, including oil, chemicals, textiles, and papermaking [2]. Group 2: Strategic Transformation - The company is actively pursuing a strategic transformation by extending its focus from steam turbines to the entire turbine industry, with gas turbines identified as a new growth engine [3]. - It is also expanding into the new energy equipment sector to seize opportunities in green development and transitioning from a manufacturing company to a service-oriented enterprise [3]. Group 3: Capital Market Engagement - The "B to A" transition is a critical phase for the company, aimed at broadening financing channels to support technological R&D and industrial upgrades, ultimately providing advanced energy solutions to clients [4]. - The upcoming stock swap with Hangzhou Hailianxun marks a significant step in the "B to A" process, which is expected to complete by Q1 2026, allowing the company to leverage capital market resources for accelerated development [4]. Group 4: Industry Impact - The company's transition to A-share listing is anticipated to enhance the efficiency of the cogeneration industry, promoting new avenues such as waste heat power generation and distributed energy solutions [5]. - The "B to A" transition is expected to reshape the company's valuation and attract mainstream investment, injecting new momentum into the high-end equipment manufacturing sector [5].

Core Viewpoint - Hangzhou Steam Turbine Company B will suspend trading of its shares starting November 5, 2025, transitioning to share conversion into Hailianxun shares listed on the Shenzhen Stock Exchange [1] Summary by Sections - **Trading Suspension**: The company announced that its stock will be suspended from trading on November 5, 2025, following a series of related announcements starting October 28, 2025 [1] - **Cash Option Distribution**: After the trading suspension, the company will enter a phase for cash option distribution, exercise declaration, and settlement [1] - **Share Conversion**: Following the completion of the above phases, the shares will be converted into Hailianxun shares for listing and trading on the Shenzhen Stock Exchange [1]

证券代码：200771 证券简称：杭汽轮B 公告编号：2025-121 杭州汽轮动力集团股份有限公司 关于公司股票连续停牌直至终止上市的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示：本公司股票（证券代码：200771）将自 2025 年 11 月 5 日起 开始停牌，此后将进入现金选择权派发、行权申报、行权清算交收阶段，不 再交易，直至实施换股后，转换成海联讯股份在深圳证券交易所上市及挂牌 交易。敬请广大投资者注意。 杭州海联讯科技股份有限公司（以下简称"海联讯"）向杭州汽轮动力 集团股份有限公司（以下简称"公司"、"本公司"或"杭汽轮"）全体换股 股东发行 A 股股票换股吸收合并杭汽轮的交易行为（以下简称"本次换股吸 收合并"）已于 2025 年 9 月获得中国证券监督管理委员会同意注册的批复 （证监许可［2025］2141 号）。 根据《深圳证券交易所股票上市规则（2025 年修订）》9.7.1 条第（四） 项的规定，公司符合主动终止上市的情形，后续将向深圳证券交易所申请公 司股票（证券简称：杭汽轮 B，证券代码：200771）终止上市。 ...

From October 28, 2025, the Company consecutively published for six trading days the "Prompting Announcement of Hangzhou Turbine Power Group Co., Ltd. Regarding the Share Exchange Absorption Merger of Hangzhou Turbine Power Group Co., Ltd.by Hangzhou Hirisun Technology Incorporated.", the "Prompt Announcement of Hangzhou Turbine Power Group Co., Ltd. Regarding the Continuous Suspension of the Company's Stock Until Delisting and the Implementation of the Share Exchange Absorption Merger", and the "Prompting A ...

Core Viewpoint - Hailianxun (300277.SZ) announced a stock suspension starting November 5, 2025, until the completion of the acquisition request period and related information disclosure obligations [1][2] Group 1: Acquisition Details - Hailianxun will conduct a share swap to absorb Hangzhou Turbine Power Group Co., Ltd. (Hangqilun) as approved by the China Securities Regulatory Commission [1] - The share swap will involve Hailianxun issuing A-shares to all shareholders of Hangqilun in exchange for their shares [1] - Following the completion of the merger, Hangqilun will be delisted and its legal entity will be dissolved, with Hailianxun inheriting all assets, liabilities, and rights of Hangqilun [1] Group 2: Shareholder Rights and Pricing - To protect shareholder interests, Hangzhou State-owned Capital Investment Operation Co., Ltd. will provide the acquisition request rights [2] - The record date for the acquisition request rights is set for November 4, 2025, with a potential loss for investors if they exercise these rights, as the closing price of Hailianxun shares was 14.06 yuan per share, representing a 50.37% premium over the exercise price [2] - Hailianxun will convert Hangqilun shares held by investors into Hailianxun shares based on the agreed swap ratio [2]

Core Points - The company Hangzhou Steam Turbine Co., Ltd. (stock code: 200771) will suspend trading of its shares starting from November 5, 2025 [1] - Following the suspension, the company will enter a phase of cash option distribution, exercise declaration, and settlement, after which trading will cease until the share conversion into Hailianxun shares listed on the Shenzhen Stock Exchange [1]

Stock Code: 200771 Stock ID: Hangqilun B Announcement No.: 2025-122 A-Share Issuance of Hangzhou Hirisun Technology Incorporated for Share Swap Merger with Hangzhou Turbine Power Group Co., Ltd. and related Transaction - A/B Share Securities Account Conversion Procedures and Investor Operation Guide November 2025 1 Contents Special Reminder: Part I: Explanation of Investor Types 1.Classification of B-Share Securities Accounts 2.Investor Classification in this Operation Guide Part II: Basic Operational Proce ...

杭州海联讯科技股份有限公司发行A股股份 换股吸收合并杭州汽轮动力集团股份有限 公司暨关联交易 之A、B股证券账户转换业务及投资者 操作指引 证券代码：200771 证券简称：杭汽轮B 公告编号：2025-122 2025年11月 1 | 特别提示 | | --- | | 第一部分:投资者类型说明 . | | ー、 B股证券账户分类 . | | 二、 操作指引投资者分类 . | | 第二部分:业务操作基本流程 | | 一、现金选择权申报登记 | | 二、杭汽轮B股投资者一码通账户关联关系(仅限境内个人投资者) 5 | | 三、非境内交易的境外投资者代理人股份调账 . | | 四、确定海联讯A股的证券账户、托管单元 | | 五、配发深市转登记受限账户 | | 六、B股退出登记及A股初始登记 . | | 七、人民币资金账户开通/开立(仅适用于配发转登记受限账户的投资者)11 | | 八、股份出售及清算交收 . | | 九、资金划付 . | | 十、公积金转增与送红股、派息 . | | 十一、差异化红利税 | | 十二、换股产生的零碎股处理 …………………………………………………………………………………………………… ...

New Stock Issuance - Multiple new stock issuances are scheduled for November 4, 2025, across various companies, including ST Zhongdi (000609) and Pingtan Development (000592) which reported significant abnormal fluctuations[1] - Jiangbolong (301308) and Xiangnong Xinchuan (300475) are among the companies with recent announcements prior to November 4, 2025[1] Abnormal Fluctuations - Pingtan Development (000592) reported severe abnormal fluctuations on November 4, 2025, indicating potential volatility in its stock performance[1] - Other companies such as ST Panda (600599) and ST Huapeng (603021) also reported abnormal fluctuations on the same date, suggesting a trend of instability in the market[1] Market Trends - The report highlights a growing trend of companies experiencing abnormal stock price movements, which may indicate increased market volatility and investor caution[1] - The presence of multiple companies with abnormal fluctuations could signal a broader market trend that investors should monitor closely[1]