Hangzhou Steam Turbine Power Group(SZ:200771) Shang Hai Zheng Quan Bao·2025-10-29 21:12Core Viewpoint - Hangzhou Steam Turbine Power Group Co., Ltd. (referred to as "the Company" or "Hangzhou Steam Turbine") will undergo a stock suspension and a share exchange merger with Hangzhou Hailian Technology Co., Ltd. (referred to as "Hailian Technology") starting from November 5, 2025, with the last trading day being November 4, 2025 [1][6][16]. Summary by Sections Cash Option Distribution and Implementation - The cash option record date is set for November 4, 2025, after which the distribution will proceed, allowing shareholders to exercise their rights at a price of 7.54 HKD per share, equivalent to 6.90 CNY per share [2][10][25]. - Shareholders can exercise their cash options during specified hours on the declaration day, and the company warns that exercising these options may lead to losses due to the current trading price being higher than the exercise price [2][10][19]. Share Exchange Merger - Following the completion of the cash option exercise and settlement, the Company will announce the share exchange record date, allowing shareholders to convert their shares into Hailian Technology shares at a 1:1 ratio [3][11][12]. - Hailian Technology will inherit all assets, liabilities, and rights of Hangzhou Steam Turbine upon completion of the merger, which will result in the termination of Hangzhou Steam Turbine's listing and legal status [9][11][16]. Important Dates and Procedures - The last trading day for Hangzhou Steam Turbine shares is November 4, 2025, with a continuous suspension starting November 5, 2025 [1][6][16]. - Shareholders must ensure their shares are not pledged or frozen to exercise their cash options, and any unexercised options will be canceled after the declaration period [24][34]. Contact Information - For inquiries, shareholders can contact the designated representatives at Hangzhou Steam Turbine, with provided contact details for further assistance [13][14][37].