Core Viewpoint - China Shipbuilding Industry Co., Ltd. plans to absorb and merge China Shipbuilding Heavy Industry Co., Ltd. through a share exchange, with a share exchange ratio of 1:0.1339 [1] Group 1 - The share exchange registration date is set for September 4, 2025 [1] - Each share of China Shipbuilding Heavy Industry will convert into 0.1339 shares of China Shipbuilding [1] - After the termination of listing for China Shipbuilding Heavy Industry A-shares on September 5, 2025, the shares will no longer be displayed in the investors' accounts until the conversion is completed [1] Group 2 - The new shares of China Shipbuilding will be reflected in the accounts of former shareholders of China Shipbuilding Heavy Industry after the completion of the listing procedures [1] - The corresponding market value of the shares will not be reflected in the investors' total account value until the conversion is finalized [1]

Core Viewpoint - The company, Zhejiang Huhangyong Expressway Co., Ltd. (referred to as "Zhejiang Huhangyong"), is planning a share swap merger with Zhenyang Development Co., Ltd. (referred to as "Zhenyang Development"), which will result in Zhenyang Development being delisted and dissolved, while Zhejiang Huhangyong will continue to operate and list its shares on both A-share and H-share markets [1][2][5]. Group 1: Merger Details - The merger involves Zhejiang Huhangyong issuing A-shares to Zhenyang Development's shareholders in exchange for their shares, with a swap price set at 14.58 CNY per share, reflecting a 29.83% premium over Zhenyang Development's average price of 11.23 CNY over the past 120 trading days [4]. - Following the merger, Zhejiang Huhangyong will inherit all assets, liabilities, and rights of Zhenyang Development, and will apply for the listing of the newly issued A-shares on the Shanghai Stock Exchange [2][4]. Group 2: Financial Metrics - As of the signing date of the merger proposal, Zhenyang Development has a total share capital of 441,895,215 shares, and Zhejiang Huhangyong will issue a total of 477,246,833 A-shares for the merger [4]. - The merger is classified as a major asset restructuring for Zhenyang Development, as Zhejiang Huhangyong's total assets, revenue, and net assets exceed 50% of Zhenyang Development's corresponding figures as of the end of 2024 [4]. Group 3: Strategic Implications - The merger aims to enhance the role of state-owned enterprises and broaden funding sources for highway construction, contributing to the development of a modern, efficient, and green transportation system [5]. - This transaction will enable Zhejiang Huhangyong to achieve dual listing in both A-share and H-share markets, facilitating capital operations in both markets [5].

Core Viewpoint - The legal opinion letter discusses the share swap absorption merger between Hangzhou Hailianxun Technology Co., Ltd. and Hangzhou Turbine Power Group Co., Ltd., emphasizing compliance with relevant laws and regulations, and the necessity for further disclosures regarding the transaction [1][2][5]. Group 1: Transaction Overview - The merger involves Hailianxun issuing A-shares to all shareholders of Hangzhou Turbine in exchange for their shares, with the transaction requiring approval from the Shenzhen Stock Exchange and registration with the China Securities Regulatory Commission [1][5]. - The main business of Hailianxun includes system integration, software development, and consulting services, while Hangzhou Turbine focuses on the research, production, and sales of industrial turbines [1][3]. Group 2: Financial and Technical Aspects - Hangzhou Turbine's R&D investments have decreased over the reporting period, with amounts of 294 million, 277 million, and 178 million yuan, attributed to a reduction in project numbers and increased sales of prototypes [1][2]. - The merger will result in the surviving company inheriting all assets, liabilities, and rights from Hangzhou Turbine, creating a business structure primarily focused on industrial turbine machinery and supplemented by power information technology services [3][4]. Group 3: Regulatory Compliance - The transaction does not require prior approval from industry regulatory authorities and aligns with national industrial policies [5][6]. - Both companies are expected to meet the qualifications for commercial bank shareholders as per the relevant regulations, ensuring that the merger does not pose any legal obstacles [6][7]. Group 4: Share Swap Pricing - The share swap price for Hailianxun is set at 9.56 yuan per share, while Hangzhou Turbine's price is adjusted to 9.35 yuan per share after accounting for profit distribution and capital increase [11][15]. - The pricing mechanism for the share swap is based on the average stock prices over the 20 trading days prior to the announcement, ensuring it reflects market conditions and protects minority shareholders' interests [15][17]. Group 5: Rights of Dissenting Shareholders - Dissenting shareholders are provided with a buyback option at a price of 9.56 yuan per share, which will be adjusted to 9.35 yuan following profit distribution [11][15]. - The cash option for dissenting shareholders is set at 7.77 Hong Kong dollars per share, equivalent to 7.11 yuan, with adjustments made post-profit distribution [11][15].

Group 1 - The core point of the article is that Zhenyang Development (603213) announced a major asset restructuring plan on September 2, where Zhejiang Huhangyong Expressway Co., Ltd. intends to issue A-shares to all shareholders of Zhenyang Development for a share swap merger [1] - Zhejiang Huhangyong is a Hong Kong-listed company primarily engaged in the construction, operation, maintenance, and management of high-grade highways [1] - Following the completion of the merger, Zhenyang Development will terminate its listing and eventually cancel its legal entity status, while Zhejiang Huhangyong will apply for the A-shares issued in this merger to be listed and traded on the Shanghai Stock Exchange [1] Group 2 - The share swap ratio for the merger is set at 1:1.08, meaning that for every 1 share of Zhenyang Development, shareholders will receive 1.08 shares of the newly issued A-shares of Zhejiang Huhangyong [1] - Zhenyang Development's A-shares, convertible bonds, and convertible bond conversions will resume trading on September 3, following a trading suspension [1] - Notably, the company's stock hit the daily limit up on the day before the trading suspension [1]

公司于 2025 年 9 月 2 日召开第二届董事会第二十七次会议，审议通过 了《关于 <浙江沪杭甬高速公路股份有限公司换股吸收合并浙江镇洋发展股> 份有限公司暨关联交易预案>及其摘要的议案》等与本次交易相关的议案， 具体内容详见公司同日刊登在上海证券交易所网站（www.sse.com.cn）的 相关公告。 证券代码：603213 证券简称：镇洋发展 公告编号：2025-047 转债代码：113681 转债简称：镇洋转债 浙江镇洋发展股份有限公司 关于暂不召开股东会审议本次交易相关事项的公告 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。 浙江镇洋发展股份有限公司（以下简称"公司" ）、浙江沪杭甬高速公 路股份有限公司（以下简称"浙江沪杭甬" ）正在筹划由浙江沪杭甬向本公 司全体股东发行 A 股股份换股吸收合并本公司。 根据《上市公司重大资产重组管理办法》 《上市公司监管指引第9号—— 上市公司筹划和实施重大资产重组的监管要求》 《公开发行证券的公司信息 披露内容与格式准则第26号——上市公司重大资产重组》等相关法律、法 规和 ...

Core Viewpoint - Zhenyang Development (603213) announced a major asset restructuring plan, where Zhejiang Huhangyong Expressway Co., Ltd. will issue A-shares to all shareholders of Zhenyang Development for a share swap merger [1] Group 1: Merger Details - The merger will result in Zhenyang Development terminating its listing and ultimately canceling its legal entity status [1] - Zhejiang Huhangyong will remain as the surviving company and will apply for the listing and circulation of the newly issued A-shares on the Shanghai Stock Exchange [1] - The share swap ratio is set at 1:1.08, meaning each shareholder of Zhenyang Development will receive 1.08 shares of Zhejiang Huhangyong for every share they hold [1] Group 2: Stock Resumption - Zhenyang Development's A-shares, convertible bonds, and the conversion of convertible bonds will resume trading on September 3 [1]

Group 1 - The core point of the article is that Zhenyang Development is planning a share swap merger with Zhejiang Huhangyong, which will involve the latter issuing A-shares to all shareholders of Zhenyang Development [1] - Zhenyang Development's A-shares, convertible bonds, and conversion will resume trading on September 3 [1]

Core Viewpoint - China Shipbuilding Industry Co., Ltd. plans to absorb and merge China Shipbuilding Heavy Industry Co., Ltd. through a share exchange, with the merger approved by the China Securities Regulatory Commission on July 18, 2025 [1] Group 1 - The merger involves China Shipbuilding as the absorbing party and China Heavy Industry as the absorbed party [1] - China Heavy Industry has submitted an application for voluntary delisting to the Shanghai Stock Exchange on August 14, 2025, which was accepted on August 18, 2025 [1][2] - The delisting of China Heavy Industry's A-shares is set for September 5, 2025, and will not enter a delisting transition period due to the voluntary nature of the delisting [2] Group 2 - Shareholders of China Heavy Industry will exchange their shares for A-shares of China Shipbuilding based on the exchange ratio specified in the merger report published on July 19, 2025 [3] - The shares obtained by shareholders will be whole numbers, and any fractional shares will be allocated based on a systematic random distribution method [3] - Investors are advised to pay attention to subsequent announcements from China Shipbuilding regarding the details of the share exchange after the delisting [3]

中国船舶工业股份有限公司 关于中国船舶重工股份有限公司股东参与换股 相关事项提示性公告 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。 中国船舶工业股份有限公司（以下简称"中国船舶"或"公司"） 拟以向中国船舶重工股份有限公司（以下简称"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。本 次交易已于 2025 年 7 月 18 日获得中国证券监督管理委员会同意注 册批复。根据相关规定，中国重工已于 2025 年 8 月 14 日向上海证 券交易所（以下简称"上交所"）提交股票主动终止上市的申请，于 限公司股票主动终止上市申请的通知》（上证函〔2025〕2641 号）， 于 2025 年 8 月 29 日收到上交所出具的自律监管决定书《关于中国 船舶重工股份有限公司股票终止上市的决定》（〔2025〕201 号），上 交所决定对中国重工 A 股股票予以终止上市。中国重工 A 股股票将 于 2025 年 9 月 5 日终止上市。因属于主动终 ...

中国船舶（600150）9月1日晚间公告称，中国重工（601989）A股股票将于2025年9月5日终止上市。因 属于主动终止上市情形，中国重工A股股票不进入退市整理期交易。中国重工换股股东持有的中国重工 股票将按照换股比例转换为中国船舶为此次换股吸收合并所发行的A股股票。 依据中国船舶公告，公司拟以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，中 国船舶为吸收合并方，中国重工为被吸收合并方。此次交易已于2025年7月18日获得中国证券监督管理 委员会同意注册批复。根据相关规定，中国重工已于8月14日向上海证券交易所提交股票主动终止上市 的申请，于8月18日收到上交所出具的《关于受理中国船舶重工股份有限公司股票主动终止上市申请的 通知》，于8月29日收到上交所出具的自律监管决定书《关于中国船舶重工股份有限公司股票终止上市 的决定》，上交所决定对中国重工A股股票予以终止上市。 中国重工A股股票终止上市后，A股股东的股票账户中即不再显示中国重工A股股票，相对应的股票市 值将无法在投资者账户总市值中体现，直至中国重工A股股票转换为中国船舶A股股票并完成新增A股 股份上市的相关手续后，中国重工原A股股东 ...