Group 1 - The company Hailianxun (300277) announced on September 28 that it plans to merge with Hangqilun B (200771) through a share exchange by issuing A-shares to all shareholders of Hangqilun B [1] - On September 26, the company received approval from the China Securities Regulatory Commission for the registration of this merger [1]

Group 1 - The company plans to merge with Hangzhou Turbine Power Group Co., Ltd. by issuing A-shares to all shareholders of Hangzhou Turbine [1] - The merger has received approval from the China Securities Regulatory Commission on September 26, 2025 [1]

Core Viewpoint - The company plans to absorb and merge with Hangzhou Turbine Power Group Co., Ltd. through a share exchange by issuing A-shares to all shareholders of Hangzhou Turbine [1] Group 1 - The company received approval from the China Securities Regulatory Commission for the merger on September 26, 2025 [1]

Core Points - The core viewpoint of the article is that Hailianxun has received approval from the China Securities Regulatory Commission (CSRC) for its merger with Hangzhou Qilun Power Group, which involves the issuance of 1.175 billion new shares [1] Group 1 - Hailianxun announced the receipt of a CSRC approval for the absorption merger with Hangzhou Qilun Power Group [1] - The approval allows Hailianxun to issue an additional 1.175 billion shares for the merger, with a validity period of 12 months [1] - The company is required to strictly follow the application documents submitted to the Shenzhen Stock Exchange and fulfill its information disclosure obligations in a timely manner [1]

Group 1 - The core point of the news is that Hailianxun has received approval from the CSRC to absorb and merge Hangqilun through the issuance of 1,174,904,765 new shares, which is valid for 12 months from the date of issuance [1] - Hailianxun primarily engages in power information construction and provides related technical and consulting services, while Hangqilun specializes in designing and manufacturing industrial turbines and gas turbines [1] - After the merger, the surviving company will inherit all assets, liabilities, businesses, personnel, contracts, and other rights and obligations of Hangqilun, forming a business structure focused on industrial turbine machinery with supplementary power information services [1] Group 2 - CITIC Securities views this transaction as a rare "A absorbs B" case and the first instance of a listed company absorbing and merging another listed company, reflecting strong support from the "Six Merger Guidelines" for integration among listed companies [2] - The merger will create a business structure where industrial turbine machinery is the main focus, complemented by power information system integration, enhancing the core competitiveness and sustainable profitability of the surviving company [2] - The "Six Merger Guidelines" aim to facilitate the integration of capital and technology towards high-quality enterprises and innovative sectors, promoting resource flow and supporting the real economy [2] Group 3 - The restructuring of Hangqilun and Hailianxun through a share swap is a significant step in implementing the central government's reform directives, aimed at improving the industrial layout of state-owned listed companies and enhancing asset quality and operational efficiency [3] - This transaction responds positively to the encouragement from the State Council and the CSRC for mergers and acquisitions, enhancing the investment value of listed companies by improving asset quality and operational efficiency [3] - Over the past year, the "Six Merger Guidelines" have invigorated the merger and acquisition market, establishing the capital market as a primary channel for corporate mergers and acquisitions, particularly in technology innovation and new productive forces [3]

证券代码：300277 证券简称：海联讯 公告编号：2025-061 杭州海联讯科技股份有限公司 关于公司换股吸收合并 杭州汽轮动力集团股份有限公司获得 中国证券监督管理委员会同意注册批复的公告 "一、同意杭州海联讯科技股份有限公司以新增 1,174,904,765 股股份吸收 合并杭州汽轮动力集团股份有限公司的注册申请。 二、你们本次吸收合并应当严格按照报送深圳证券交易所的有关申请文件进 行。 三、你们应当按照有关规定及时履行信息披露义务。 四、你们应当按照有关规定办理本次吸收合并的相关手续。 五、本批复自下发之日起 12 个月内有效。 六、你们在实施过程中，如发生法律、法规要求披露的重大事项或遇重大问 题，应当及时报告深圳证券交易所并按有关规定处理。" 公司董事会将根据中国证监会批复和相关法律法规的要求以及公司股东会 的授权，在规定期限内办理本次交易所涉及的相关事宜，并及时履行信息披露义 务。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。 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。 杭州海联讯科 ...

Core Viewpoint - The company, Hailianxun, has received approval from the China Securities Regulatory Commission (CSRC) for the absorption merger with Hangzhou Qilun Power Group Co., Ltd. [1] Group 1 - The approval allows Hailianxun to issue an additional 1,174,904,765 shares to absorb Hangzhou Qilun [1] - The approval is valid for 12 months, during which the company must comply with the relevant application documents submitted to the Shenzhen Stock Exchange [1] - The company is required to fulfill its information disclosure obligations and handle related procedures in a timely manner [1]

证券日报网讯海联讯（300277）9月16日在互动平台回答投资者提问时表示，公司仍将按照创业板股票 的涨跌幅限制比例，即20%执行。 ...

Core Viewpoint - The Shenzhen Stock Exchange's M&A Review Committee approved the merger of Hangzhou Hailianxun Technology Co., Ltd. and Hangzhou Turbine Power Group Co., Ltd., confirming compliance with restructuring conditions and information disclosure requirements [1] Group 1: Merger Details - Hailianxun will absorb and merge with Hangzhou Turbine by issuing A-shares to the shareholders of Hangzhou Turbine, which will lead to the termination of Hangzhou Turbine's listing and the cancellation of its legal entity status [2] - The merger will allow Hailianxun to inherit all assets, liabilities, businesses, personnel, contracts, and other rights and obligations of Hangzhou Turbine [2] Group 2: Pricing and Valuation - The merger's pricing base date is set as the date of the first board resolution announcement, with Hailianxun's share price determined at 9.56 RMB per share based on the average trading price over the previous 20 trading days [3] - Hangzhou Turbine's share price was calculated at 7.11 RMB per share after applying a 34.46% premium, resulting in a final exchange ratio of 1:1 for the shares of both companies [3] Group 3: Profit Distribution Plans - Hailianxun's profit distribution plan includes a cash dividend of 0.20 RMB per 10 shares and a capital reserve increase of 0.2 shares per 10 shares, leading to an adjusted exchange price of 9.35 RMB per share post-merger [4][5] - Hangzhou Turbine's profit distribution plan involves a cash dividend of 2.1 RMB per 10 shares, which will also adjust the exchange price to 9.35 RMB per share [4][5] Group 4: Financial Advisors - Hailianxun's independent financial advisor for the merger is CITIC Securities, while Hangzhou Turbine's independent financial advisor is CITIC Jianye Securities [6]

Core Viewpoint - The company, Hailianxun, plans to merge with Hangzhou Turbine Power Group Co., Ltd. through a share exchange, issuing A-shares to all shareholders of Hangzhou Turbine [1] Group 1 - Hailianxun will absorb and merge with Hangzhou Turbine by issuing A-shares [1] - The Shenzhen Stock Exchange's M&A Review Committee held a meeting on September 11, 2025, to review the transaction application [1] - The review concluded that the transaction meets the restructuring conditions and information disclosure requirements [1]