Core Viewpoint - The announcement details the cash option distribution and implementation related to the merger of Hangzhou Qilun Power Group Co., Ltd. with Hangzhou Hailianxun Technology Co., Ltd. The cash option is provided to dissenting shareholders to protect their interests during the merger process [1][31][35]. Summary by Sections Merger and Cash Option Details - The merger plan was approved at the second extraordinary general meeting of shareholders on June 6, 2025, and received regulatory approval on September 9, 2025 [2][31]. - Dissenting shareholders will be offered a cash option, with Hangzhou Capital acting as the provider [2][35]. - The last trading day for Hangzhou Qilun's stock will be November 4, 2025, after which the stock will be suspended from trading [2][31]. Cash Option Implementation - The cash option will be distributed to dissenting shareholders who hold shares as of the cash option registration date [2][12]. - The cash option exercise price is set at 7.54 HKD per share, equivalent to 6.90 CNY, based on the exchange rate prior to the suspension [4][17]. - The cash option will be available for exercise from 9:30 AM to 11:30 AM and 1:00 PM to 3:00 PM on specified days [18][40]. Shareholder Rights and Conditions - Shareholders must meet specific conditions to exercise the cash option, including voting against the merger proposal [8][12]. - Shares with legal restrictions, such as pledges or judicial freezes, are not eligible for the cash option [5][10]. - The maximum number of cash options to be distributed is capped at 37,033,996, subject to final verification [13][35]. Financial and Tax Implications - The cash option provider, Hangzhou Capital, is a state-owned enterprise with a registered capital of 10 billion CNY, indicating strong financial capability [27]. - Tax implications for shareholders exercising the cash option will follow existing regulations regarding capital gains and dividends [33]. Future Steps - Following the cash option exercise period, the merger will proceed with the conversion of shares from Hangzhou Qilun to Hangzhou Hailianxun at a 1:1 ratio [36][42]. - The merger will result in Hangzhou Qilun ceasing to exist as a listed entity, with all assets and liabilities transferred to Hangzhou Hailianxun [34][42].

Core Viewpoint - The company, Hailianxun, announced that its stock will be suspended from trading starting November 5 until the completion of the acquisition option declaration period and the fulfillment of related information disclosure obligations [1] Group 1 - The stock suspension is due to the acquisition request rights provided by Hangzhou State-owned Capital Investment Operation Co., Ltd [1] - The dissenting shareholders must meet specific conditions to exercise their acquisition request rights, including voting against at the shareholders' meeting and holding the relevant shares until the implementation date [1] - The record date for the acquisition request rights for dissenting shareholders is set for November 4 [1]

证券代码：300277 证券简称：海联讯 公告编号：2025-071 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 有限公司收购请求权派发及实施的提示性公告 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：由于本公司股票目前交易价格高于收购请求权行权价格，投资者 行使收购请求权将可能导致亏损，敬请投资者谨慎决策。 重要提示： 1、本次换股吸收合并方案已经海联讯于 2025 年 6 月 6 日召开的 2025 年第一 次临时股东会审议通过，并于 2025 年 9 月获得中国证券监督管理委员会（证监许 可［2025］2141 号）同意注册的批复。 2、为充分保护海联讯全体股东的利益，本次交易将向海联讯异议股东提供收 购请求权，并由杭州资本担任本次交易收购请求权的提供方。在海联讯收购请求 权实施股权登记日登记在册的收购请求权异议股东，可以在收购请求权申报期自 行选择就其持有的海联讯股票全部或部分申报行使收购请求权。同时，行使海联 讯收购请求权的异议股东将相对应的股份过户到相关收购请求权提供方的名下， 该等行使收购请求权的异议股东无权 ...

Market Overview - On October 31, the Zhejiang state-owned enterprise reform sector rose by 0.02% compared to the previous trading day, with Huazhi Shumei leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Top Performers - Huazhi Shumei (300426) closed at 9.25, up 4.76% with a trading volume of 123,900 shares and a transaction value of 113 million yuan [1] - Fida Environmental (600526) closed at 5.58, up 4.69% with a trading volume of 317,100 shares and a transaction value of 175 million yuan [1] - Hailianxun (300277) closed at 13.55, up 4.63% with a trading volume of 131,600 shares and a transaction value of 176 million yuan [1] Underperformers - Hangyang Co. (002430) closed at 27.65, down 6.33% with a trading volume of 484,000 shares and a transaction value of 1.367 billion yuan [2] - Yunda Co. (300772) closed at 18.27, down 3.69% with a trading volume of 235,000 shares and a transaction value of 441 million yuan [2] - Zhejiang Energy Power (600023) closed at 5.16, down 2.27% with a trading volume of 1,010,300 shares and a transaction value of 524 million yuan [2] Capital Flow - The Zhejiang state-owned enterprise reform sector experienced a net outflow of 283 million yuan from institutional investors, while retail investors saw a net inflow of 513 million yuan [2][3] - Notable capital movements include: - Xiaoshangpin City (600415) had a net inflow of 228 million yuan from institutional investors, but a net outflow of 146 million yuan from retail investors [3] - Dadongnan (002263) saw a net inflow of 63.91 million yuan from institutional investors, but a net outflow of 70.82 million yuan from retail investors [3]

Core Viewpoint - The company, Hailianxun, announced on October 30 that it will release an announcement regarding the share exchange after completing the acquisition request rights related matters [2] Group 1 - Hailianxun responded to investor inquiries on an interactive platform [2] - The company is in the process of implementing a share exchange arrangement as part of its acquisition strategy [2] - An official announcement regarding the share exchange will be made following the completion of related matters [2]

1、本次换股吸收合并方案已经海联讯于 2025 年 6 月 6 日召开的 2025 年第一 次临时股东会审议通过，并于 2025 年 9 月获得中国证券监督管理委员会（证监许 可［2025］2141 号）同意注册的批复。 证券代码：300277 证券简称：海联讯 公告编号：2025-070 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 有限公司收购请求权派发及实施的提示性公告 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：由于本公司股票目前交易价格高于收购请求权行权价格，投资者 行使收购请求权将可能导致亏损，敬请投资者谨慎决策。 重要提示： 2、为充分保护海联讯全体股东的利益，本次交易将向海联讯异议股东提供收 购请求权，并由杭州资本担任本次交易收购请求权的提供方。在海联讯收购请求 权实施股权登记日登记在册的收购请求权异议股东，可以在收购请求权申报期自 行选择就其持有的海联讯股票全部或部分申报行使收购请求权。同时，行使海联 讯收购请求权的异议股东将相对应的股份过户到相关收购请求权提供方的名下， 该等行使收购请求权的异议股东无权 ...

Core Viewpoint - The absorption merger of Hangzhou Turbine (杭汽轮) by Hailianxun is expected to establish a new corporate governance structure, optimize management, and enhance the company's development quality without affecting its current operations [1][3]. Group 1: Company Operations - Hangzhou Turbine's daily operations have not experienced any adjustments or fluctuations during the merger process [3]. - The company has successfully completed critical testing phases for its gas turbines, including compressor, turbine, and combustion chamber experiments, achieving successful ignition in May and completing full-speed and full-load tests [5]. Group 2: Financial Performance - For the first three quarters of 2023, Hangzhou Turbine reported revenues of 3.825 billion yuan, a year-on-year decline of 10.27%, and a net profit attributable to shareholders of 123 million yuan, down 35.14% year-on-year [5]. Group 3: Strategic Development - The merger is a significant step for Hangzhou Turbine B to transition from B-shares to A-shares, aiming to create a synergistic development model of "high-end equipment manufacturing + power information" and move towards the goal of becoming a "world-class industrial driving service provider" [5].

证券代码：300277 证券简称：海联讯 公告编号：2025-069 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 有限公司收购请求权派发及实施的提示性公告 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：由于本公司股票目前交易价格高于收购请求权行权价格，投资者 行使收购请求权将可能导致亏损，敬请投资者谨慎决策。 重要提示： 1、本次换股吸收合并方案已经海联讯于 2025 年 6 月 6 日召开的 2025 年第一 次临时股东会审议通过，并于 2025 年 9 月获得中国证券监督管理委员会（证监许 可［2025］2141 号）同意注册的批复。 2、为充分保护海联讯全体股东的利益，本次交易将向海联讯异议股东提供收 购请求权，并由杭州资本担任本次交易收购请求权的提供方。在海联讯收购请求 权实施股权登记日登记在册的收购请求权异议股东，可以在收购请求权申报期自 行选择就其持有的海联讯股票全部或部分申报行使收购请求权。同时，行使海联 讯收购请求权的异议股东将相对应的股份过户到相关收购请求权提供方的名下， 该等行使收购请求权的异议股东无权 ...

Core Viewpoint - Hangzhou Steam Turbine Company B shares will cease trading on November 4, 2025, and will enter a cash option distribution phase starting November 5, 2025 [1] Group 1 - The last trading day for Hangzhou Steam Turbine B shares is set for November 4, 2025 [1] - From November 5, 2025, the shares will be suspended from trading and will enter the cash option distribution, exercise declaration, and settlement phase [1] - The cash option price is set at RMB 6.9 per share, with the shareholding registration date for the cash option being November 4, 2025 [1]

证券代码：300277 证券简称：海联讯 公告编号：2025-068 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 有限公司收购请求权派发及实施的提示性公告 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：由于本公司股票目前交易价格高于收购请求权行权价格，投资者 行使收购请求权将可能导致亏损，敬请投资者谨慎决策。 重要提示： 1、本次换股吸收合并方案已经海联讯于 2025 年 6 月 6 日召开的 2025 年第一 次临时股东会审议通过，并于 2025 年 9 月获得中国证券监督管理委员会（证监许 可［2025］2141 号）同意注册的批复。 2、为充分保护海联讯全体股东的利益，本次交易将向海联讯异议股东提供收 购请求权，并由杭州资本担任本次交易收购请求权的提供方。在海联讯收购请求 权实施股权登记日登记在册的收购请求权异议股东，可以在收购请求权申报期自 行选择就其持有的海联讯股票全部或部分申报行使收购请求权。同时，行使海联 讯收购请求权的异议股东将相对应的股份过户到相关收购请求权提供方的名下， 该等行使收购请求权的异议股东无权 ...