China Shipbuilding to absorb China Heavy Industry via share swap

China Shipbuilding Industry Co., Ltd. (SSE:601989) plans to absorb China Heavy Industry Co., Ltd. via a share swap. Upon completion of the merger, China Heavy Industry will be delisted, and China Shipbuilding Industry will assume all assets, liabilities, and business operations. The plan, approved at the extraordinary general meeting of shareholders on February 18, 2025, and by China Shipbuilding's first extraordinary meeting in 2025, is subject to regulatory approvals. Creditors of China Heavy Industry have 45 days from the date of this notice to claim repayment or request guarantees, according to relevant laws. China Shipbuilding will assume all of its debtors' rights. The board of directors is scheduled to meet on Feburary 19, 2025.